If I have a $400 monthly house payment, the place we financed the house through went bankruptcy, is it legal for the bank to still charge the $400 monthly payment?
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If I have a $400 monthly house payment, the place we financed the house through went bankruptcy, is it legal for the bank to still charge the $400 monthly payment?
Asked on May 6, 2013 under Bankruptcy Law, Missouri
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If by "the place we financed the house through went bankruptcy," you mean that the lender filed for bankruptcy, then yes: they can still charge you the monthly payment. When a business (or person) files for bankruptcy, it affects what they owe to others, not what others owe to them: someone in bankruptcy may still collect on their debts and obligations.
If you meant something else, you should re-post your question.
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