Legal Question in Bankruptcy in Maryland

Re: selling home

In Chapter 7, you'll have to give up the property or pay for it in full during your bankruptcy case. In Chapter 13, you can repay the arrears through your plan, and keep the property by making the payments required under the contract.

If you have codebtors on personal (nonbusiness) loans then in Chapter 7, the creditors will go after your codebtors for payment. In Chapter 13, the creditors may not seek payment from your codebtors for the duration of your case.

Contact an attorney since other options exist in lieu of bankruptcy.

Holthaus Law Office

(410) 799-9002

Re: selling home

You can, but you need to have permission of the bankruptcy court to do so. This is assuming that you are in a Chapter 13. If your original plan was to pay your creditors in full, and there is enough money to pay your creditors from the sale, you should have no problems. If your original plan was to NOT pay your creditors in full, and there is enough money to pay them in full, then you may have to do so. I would need more details to answer your question fully.

Carolyn G. Krohn