Legal Question in Bankruptcy in West Virginia

Re: Bankruptcy on equity loans and reafirming on home loan

A petition in bankruptcy discharges all debt with exceptions: certain taxes, alimony, child support, student loans, fines and liability for DUI accidents, etc. There are exceptions to the exceptions. Consensual liens given on real estate are dischargable, but the lien remains. In order to prevent forclosure following the lifting of the automatic stay (occurs at discharge or by request of the lender) you must be current and continue to make the payments. Thus the debt is discharged. If you surrender or there is a forclosure following a bankruptcy, the creditor cannot collect a deficiency. You are not able to avoid a consensual lien on your home. You might be able to strip it down if the creditor took personal property as collateral in addition to the lien on real estate. Tom Zimmerman