Legal Question in Bankruptcy in Georgia
bankruptcy
If the residential home is surrendered in a chapter 7 bankruptcy, foreclosure takes place, total amount not collected at foreclosure sale, would petitioner be liable for the shortage at foreclosure sale or would the shortage be discharged in the bankruptcy?
4 Answers from Attorneys
Re: bankruptcy
The debt is generally discharged, though there are exceptions.
Re: bankruptcy
In most Chapter 7's the deficiency is discharged. However, the word "most" is key, and there are rare circumstances witha different answer. This is a question that your bankruptcy lawyer can and should answer for you.
Re: bankruptcy
In most Chapter 7's the deficiency is discharged. However, the word "most" is key, and there are rare circumstances witha different answer. This is a question that your bankruptcy lawyer can and should answer for you.
Re: bankruptcy
In most Chapter 7's the deficiency is discharged. However, the word "most" is key, and there are rare circumstances witha different answer. This is a question that your bankruptcy lawyer can and should answer for you.
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