Bells, TX Bankruptcy Law Firms & Lawyers

If you file a bankruptcy case and use it to discharge debts, then later you should not have creditors reporting that you still owe that debt. Instead, those debts should be reported as having been discharged and that there no longer is any balance due (no remaining amounts owed to them by you).

I think you misunderstand what bankruptcy does. It does not clear up your credit record, it eliminates the rights of creditors to sue you for debts. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.

You should not rely on my advice, it's only an opinion and if I had a chance to look into everything you've said my answer could change. Always get a lawyer to help is my motto because in hindsight, they are cheap! Any personal obligation you have on the property is wiped away, so you do not have to pay for any deficiency. Note, HOA fees are still owed by you until you have left the property AND title has changed. We have a company set up that we deed properties to but assuming you want something quick and cheap maybe you can find someone with bad credit who will gladly accept the property from you? Then deed it to them. You don't have any personal obligations on the house that's why you don't care about the benefits of a deed in lieu.