Do I need to declare bankruptcy if going through foreclosure?
Question:
Answer:
You can declare bankruptcy without going through foreclosure, but you'll have to keep paying on the house or you'll lose it in foreclosure.
If you can get another home, I'd do it right away because your credit is only going to go downhill from here, if you can't pay the other house bill.
Depending on your area, I may be able to recommend someone to help you get rid of the other house and avoid a foreclosure on your record.
You don't have to if you don't want to
hire an attorney who would advise you on bankruptcy.
5 Tips For Getting An Attorney for your Bankruptcy
With many people trying to live beyond their means combined with job instability has led to the increasing number of people declaring bankruptcy. As a result, a new legislation called the "Bankruptcy Abuse and Consumer Protection Act" has been enacted. Many people cannot pay off their debts and now have to face new laws for filing bankruptcies.....
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