Real estate blog entries tagged with bankruptcy by Kelly Lise Murray (DivorceThisHouse.com)

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Home : Blogs : Kelly Lise Murray : Kelly Lise Murray's Blog : Tag "bankruptcy"

bankruptcy: Bankruptcy Busts Divorce Home Equity Buy Out under Chapter 13 - Personal Reorganization - 01/15/09 07:27 AM

Bankruptcy after divorce can undo a lot of what your divorce did, especially regarding who pays what (that is, the allocation of debt).
Under the 2005 amendments to the federal bankruptcy code (Bankruptcy Abuse Prevention and Consumer Protection Act or "BAPCPA"), if your spouse kept the house and is paying you for your share of the house equity over time... you are at risk.
That is because under Chapter 13 reorganization (the easier form of personal bankruptcy to qualify for), home equity debts - technically non-support domestic obligations - ARE dischargeable.
Discharge in bankruptcy "wipes the slate clean," meaning the debtor (e.g. … (1 comments)

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Kelly Lise Murray

Franklin, TN

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January 2009 (16)

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