Legal Question in Bankruptcy in Illinois
Multiple Owners of RealEstate
My husband owned a house with exwife and two other people. He filed bankruptcy prior to divorce. He did reaffirm that debt. There was nothing in the divorce stating the sale of the property. Then he signed a quitclaim deed and was filed in Cook County Illinois. Is he still liable for that debt? We cannot get a loan anywhere because this debt is showing on his credit report.
Asked on 6/14/02, 10:31 am
1 Answer from Attorneys
Bruce Buckrop
Bruce Buckrop
Re: Multiple Owners of RealEstate
Re-affirm means to re-instate the debt, so the bankruptcy discharge does not apply to that debt, giving away your interest in the property does cancel the debt, you need a release from that debt you can only get from the mortgage company
Answered on 6/14/02, 12:06 pm
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