Repairing Credit After Bankruptcy: Part 3

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Even after filing bankruptcy, debtors need to pay special attention to financial issues that can survive the bankrutpcy discharge. The most common issue relates to surrendered real estate where the creditor does not move forward with the judicial sale removing the debtor's name from the deed. If the property remains in the debtor's name, state law obligations like real property taxes and local ordinances requiring the debtor to keep the home in good repair and free of debris continue. Failure to maintain the property can result in numerous court appearances for violations of local ordinances. This article discusses financial pitfalls that exist after the bankruptcy discharge and how to avoid creating new debts.

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Published In: Bankruptcy Updates, Consumer Protection Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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