What if I filed bankruptcy and one of my debtors does not claim its money?

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What if I filed bankruptcy and one of my debtors does not claim its money?

I recently filed bankruptcy in Federal Court in Brooklyn, NY and all of my debtors collected the money owed them. I had to sell some real estate I owned in Brooklyn to get the money. One of the mortgage companies did not collect in full and now they ar ethreatening to foreclose on my home in Brooklyn because of the unpaid debt. The money the bankruptcy court had was only there for a limited time and is no longer available. My bankruptcy attorney has retired and moved from Brooklyn.

Asked on May 17, 2009 under Bankruptcy Law, New York

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You need to take the papers from your bankruptcy to another bankruptcy attorney who does this kind of work. One place to look for a bankruptcy lawyer in Brooklyn is our website, http://attorneypages.com

Ordinarily, if the debt was listed in the bankruptcy -- and, for a mortgage on your home, I'd think it would have to have been listed -- once the discharge or final order is in place, it limits the rights of your lender, as far as what was due up to that point.  If the lender was at fault for not collecting its money, you might have a good defense to the foreclosure suit. But it will take a bankruptcy attorney familiar with bankruptcy law, matters and practice, and who also knows the impact of bankruptcy under New York law and the effects on real estate and mortgages.

Please remember that each case is different.  There may well be facts that aren't in your question, that might not seem important to you, but which the bankruptcy attorney needs and could change the result.  You have too much at stake, to risk doing this the wrong way just to save a legal fee. See a bankruptcy attorney who practices bankruptcy in New York, and ideally in Brooklyn.


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