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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: I'm in a bad situation... need help quick! Posted by Lughead on August 07, 2003 at 11:09 PM In Reply to: I'm in a bad situation... need help quick! posted by Sherica on August 07, 2003 at 9:35 PM hello a ch 7 will not wipe out a secured debt - such as the house loan - it wipes out the unsecured debts (credit card, etc) i cannot see how filing will help you in what you are looking for... you may try to see if you can sell the house via a 'short sale' most often the lender will not 'come after you' - especially if the loan was taken out for the purpose of buying the home - although TN law is not my forte you may be wise to speak with a few other attorneys and see what others have to say here before you go the BK route which can last 7-10 years on your credit report good luck choose wisely from here out Lughead Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : hello : a ch 7 will not wipe out a secured debt - such as the house loan - it wipes out the unsecured debts (credit card, etc) : i cannot see how filing will help you in what you are looking for... : you may try to see if you can sell the house via a 'short sale' : most often the lender will not 'come after you' - especially if the loan was taken out for the purpose of buying the home - although TN law is not my forte : you may be wise to speak with a few other attorneys and see what others have to say here before you go the BK route which can last 7-10 years on your credit report : good luck : choose wisely from here out : Lughead Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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