Re: What happens to your house in BK in TX?

Posted by V in SATX (65.71.25.56) on April 12, 2003 at 23:56:11:

In Reply to: Re: What happens to your house in BK in TX? posted by Fireman on April 12, 2003 at 21:37:59:

Any debt that you have that is secured--like a car or house--if you don't make the payments then they will repo or foreclose on you. That will happen to anybody who does not pay.

I think in one of your original ostrich posts that you mention that your brother in law got a judgement for a repo on a car. It would be the same for you. As to whether they seek a judgement on you would only depend on the company.

So yes, anything that is collateral for a secured debt can be taken. If you have like a Lowes or Home depot card wear you bought a lawnmover, tools etc. Then they cannot take them.

What is it that you have that you are afraid of losing? Something more specific in detail might help to stop dancing around and a more direct answer can be given.

Hope this helped!!

Follow Ups:

Post a Followup