Debtor is obligated to pay the secured party attorneys fees. In consideration of the indebtedness, debtor conveys and warrants to trustee certain property described in the land deed of trust.
Secured Debt Any For Loan In Riverside
State:
Multi-State
County:
Riverside
Control #:
US-00181
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Word;
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FAQ
Greater than 95% of all Chapter 7 cases in this area are no asset cases. Therefore, an unlisted creditor does not usually create a nondischargeability problem. However, the unlisted creditor does not know you filed bankruptcy. Unlisted creditors should be notified immediately once their existence is known.
If a secured creditor fails to file proof of claim, then you will not make any payments toward what you owe on your house or car during your repayment plan. At the end of the bankruptcy process, to keep the collateral, you will still owe the full amount of these secured debts. Plus, you may owe interest and other fees.
Why is a Mortgage Secured Debt? A mortgage is what's called a secured debt because it is backed up by collateral. In this case, the collateral is your home.
Contrary to popular belief, there is no specific minimum amount of debt required to file for Chapter 7 bankruptcy.