How do I fill out bankruptcy paperwork for a home that hasalready been sold through foreclosure?

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How do I fill out bankruptcy paperwork for a home that hasalready been sold through foreclosure?

I’m self filing Chapter 7 bankrupcy. How to I list an already foreclosed home (and sold). I don’t know if I should list it on Schedule A, since I no longer own it. What would be the proper way to list it? I still owe the $2,000 and they already took and sold the house?

Asked on July 24, 2011 Illinois

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If there is no specific are on the paperwork that you are filling out for your Chapter 7 application and eventual filing about the home you lost title to in foreclosure, but owe $2,000 on still, there are portions in the form listing creditors.

List the name of the lending institution, its mailing address and the amount owed and the reason for such, i.e., "foreclosed home obligation".

In a bankruptcy filing you need to disclose all obligations and creditors if you hope to get a discharge of your obligations for notice requirements in your Chapter 7 proceeding. It is best to overly disclose in a bankruptcy filing than under disclose. The bankrupcy court may provide a hotline to further assist you in your bankruptcy questions.

Good luck.


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