The Texas Declaration Regarding Request to Pay Post-Petition Mortgage Obligations is a form that a debtor must file with the Bankruptcy Court when seeking to continue making payments on a mortgage after filing for bankruptcy. This document informs the Bankruptcy Court of the debtor’s intent to pay all post-petition mortgage payments and contains information about the debtor’s financial situation, such as income, expenses, assets, and liabilities. By filing this declaration, the debtor is requesting that the Bankruptcy Court authorizes the payment of post-petition mortgage payments in order for the debtor to retain the property. There are two types of Texas Declaration Regarding Request To Pay Post-Petition Mortgage Obligations: Chapter 7 and Chapter 13. Chapter 7 is the liquidation bankruptcy process, in which the debtor’s non-exempt assets are sold to pay creditors. The Chapter 7 Texas Declaration Regarding Request To Pay Post-Petition Mortgage Obligations must be filed if the debtor wishes to keep their home. Chapter 13 is the reorganization bankruptcy process, in which the debtor proposes a payment plan to their creditors. The Chapter 13 Texas Declaration Regarding Request To Pay Post-Petition Mortgage Obligations must be filed if the debtor wishes to continue making mortgage payments while in Chapter 13.
Texas Declaration Regarding Request To Pay Post-Petition Mortgage Obligations
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FAQ
Pre-petition debt is the debt that we are expecting to be discharged as part of your bankruptcy case. This can include everything from credit card and medical debt, personal and payday loans, to foreclosure and repossession deficiencies.
When it comes to filing Chapter 7 bankruptcy, debts incurred before filing are called pre-petition debts, that debtors are discharged from, whereas debts incurred after a filing are post-petition payments, which debtors still must pay on.
Post-petition debt is a debt you obtain after filing your bankruptcy case. These debts are not part of your bankruptcy case and will not be discharged. Any debt you acquire after filing for bankruptcy (even if your case is still pending) is considered post-petition, and you are responsible for paying it.
Post-petition refers to anything that occurs after you've filed for bankruptcy. Conversely, the term ?pre-petition? is used to refer to anything that happened before you filed for bankruptcy. Only ?pre-petition? debts are dischargeable in bankruptcy.
Post-petition debt is a debt you obtain after filing your bankruptcy case. These debts are not part of your bankruptcy case and will not be discharged. Any debt you acquire after filing for bankruptcy (even if your case is still pending) is considered post-petition, and you are responsible for paying it.
Generally, the creditor on a post-petition debt cannot collect the debt until either the automatic stay is terminated or the creditor receives permission to collect from the bankruptcy court.
Post-petition refers to anything that occurs after you've filed for bankruptcy. Conversely, the term ?pre-petition? is used to refer to anything that happened before you filed for bankruptcy. Only ?pre-petition? debts are dischargeable in bankruptcy.
Prepetition: this term is often used to mean anything that occurred prior to your filing for bankruptcy protection. For example, the amount that may be behind on your house before you file bankruptcy would be called a pre-petition arrears.