Legal Question in Bankruptcy in Florida
My home is going into forclosure. I recently read in an article that when a civil judgement is levied against you a bankruptcy will not release you from the debt. Is this true? Meaning if I am sued for the remaining balance of the mortgage and the court awards the mortage company the full or partial amount owed will filing a bankruptcy release me from this debt or will I be tied to a life of financial hardships with which there will be no escape?
2 Answers from Attorneys
Your interpretation of the article is incorrect. A chap 7 bankruptcy discharge will void any valid underlying debts included in your petition so any court order regarding the debt will be unenforceable. One prime purpose of bankruptcy is to discharge such debts and to render such civil judgments as unenforceable. Realize: Any specific advice requires detailed information about your situation; this is general counsel regarding U.S. bankruptcy law.
I agree with Mr. Martin. Bankrupcty is a common tool for people in your situation to gain a "fresh start" on life.
You should consult with a local bankruptcy attorney regarding your situation. Many offer a free, no obligation first consultation. That should give you some direction.
Best of luck.
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