Lk Forest, FL Bankruptcy Law Firms & Lawyers

Letting the property go into foreclosure will create another credit ding, although you might not be aware of it because it will not be available on your consumer credit report. But creditors have access to more information about you than just your consumer report. Furthermore, since you didn't file bankruptcy, you could be responsible for paying any loss the mortgage company may take when they foreclose. A short sale may be the solution, but look for a realtor with connections at your mortgage company.

The ex-girlfriend's bankruptcy is not going to relieve you from that debt. If she is on the title to the bike, then she has a legal interest in it. If there is equity in the bike, if it is worth more than is owed on it, then the bankruptcy Trustee might be able to take the bike or require you to buy out her 1/2 of the equity if you want to keep it.

This scenario is becoming more common, given that some banks essentially misreport the mortgage payment history of non- reaffirmed debts. To correct this problem, you should adopt the following two-step process: Step One, make a qualified written request to your mortgage lender/servicer, pursuant to 2605(e) of the Real Estate Settlement Procedures Act (RESPA), that they provide to you an accounting of all mortgage payments that you have made. This accounting should establish that you have been making timely mortgage payments post-petition. Step Two, file a dispute with the Credit Reporting Agency (Experian, Equifax, TransUnion, etc.) complaining that the reported mortgage payment information is inaccurate, attaching thereto the accounting received pursuant to the qualified written request. Assuming that you are in fact current on your mortgage payments, this should result in the Credit Report entries being corrected, pursuant to the procedures established in The Fair Credit Reporting Act (15 USC 1681i). I would also suggest that you keep a front and back photocopy of each future mortgage payment that you send to this lender/servicer, so that if this problem arises again you complain to the Credit Reporting Agency and have your own records to submit, which should streamline the process somewhat. I take no position as to who failed to do what. The question of who files a Reaffirmation Agreement is usually determined by the parties to the transaction, except I will say that based on my 30+ years of experience, if a screw up occurs and a bank is involved anywhere in the process, the bank is invariably the culpable party.