Legal Question in Bankruptcy in Indiana

Re: help stop proceedings

Do you mean JULY 9, rather than May 9?

If so, if you file a bankruptcy petition and notify the creditor, an automatic stay goes into effect, which means that all creditors who are taking action against you must stop their proceedings against you while the bankruptcy is pending.

That buys you a little time and prevents the immediate sale of the home.

However, in order to keep the house, you MUST catch up the arrearage and sign a reaffirmation agreement with the lender before the bankruptcy is finished.

If you don't, then you'll still lose the house. It will just be later.

Hope this helps. Let me know if you have other questions.

Dorene J. Philpot

Attorney at Law

156 E. Market St., Suite 200

Indianapolis, IN 46204

(317) 486-4578

(317) 686-1150 fax

[email protected]

home page address:

http://hometown.aol.com/dphilpotlaw/myhomepage/profile.html