Legal Question in Bankruptcy in Pennsylvania
When filing for bankruptcy can you specify the debts you cannot pay?
We have a mortgage, home equity loan and 2 car payments that we can pay. Our credit card debt and one bank loan are out of control. Can we specify only those debts and still keep our mortgage, home equity loan and car payments? In what cases does a judge deny a petition for bankruptcy? Can we keep the judgement out of the newspaper?
1 Answer from Attorneys
Re: debts in bankruptcy
If you file for bankruptcy you must list ALL of your debts, and you must pay all of them equally - you are not allowed to favor one creditor over another, and pay some more than others. (Not including secured creditors - like your mortgage and your car).
You must disclose absolutely everything. Failure to do so is one important reason for being denied a discharge. Lying is another.
Bankruptcy is a public proceeding, and the petitioner has no right to keep the proceedings a secret. The opposite.
As to mortgages and car payments - You will be able to keep paying the mortgage and keep your home. You can almost certainly do the same with your car.
Good luck!
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