Legal Question in Credit and Debt Law in Texas

Multi unsecured loans defaulted

I have multiple unsecured accounts that are now charged off. What can I do to protect myself outside of filing for bankruptcy? I am current on my mortgage can I stay in my home if I file for bankruptcy? I live in Texas. I hope to be able to pay these debts off at some point in time.


Asked on 10/10/08, 4:15 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Multi unsecured loans defaulted

Outside of bankruptcy, there is nothing you can do to protect yourself. Your creditors can request that you pay these debts at anytime although they only have 4 years after the last payment or other activity to file a lawsuit. You can re-affirm your mortgage to keep your house if you file bankruptcy if you wish. Good Luck.

Read more
Answered on 10/10/08, 4:30 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Texas