Legal Question in Bankruptcy in Florida
have filed chapter 7 in FL ..Have a home equity loan and credit card s with a credit union. Can they use cross-collaterization process for the discharge of my credit card debts and place the balance o n to my home equity loan?
Asked on 1/01/11, 6:49 am
1 Answer from Attorneys
L. Jed Berliner
Berliner Law Firm
Cross-collateralizations are a real problem. Common factors for enforcement are the timing and purposes of the separate loans, but each state has its own rulings. There is no one national rule to follow, I'm sorry to say. You'll need the advice of a Florida attorney, perhaps the one you have or will retain for your bankruptcy filing.
Answered on 1/06/11, 7:06 am
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