Legal Question in Bankruptcy in West Virginia

Re: Bankruptcy Law

Either party has the right to Reaffirm. Either party may negotiate with the creditor defer payments or to cure any default. Neither would be liable for any deficiency if the house were surrendered and sold for less than the debt. If one elected to continue to make the payments, the creditor may invoke the "ipso facto" ( a provision in the loan documents which makes filing of bankruptcy an event of default) clause and foreclose anyway. In all events, cooperation between a debtor who wants to retain possession and pay and the creditor is essential.