What are the reasons a judge would allow creditors to take my home after I’ve filed bankruptcy?
• You filed a Chapter 7. • You fail to file a reorganization plan or other required documents on time. • You default on your scheduled Chapter 13 or Chapter 11 payments. • Your income is insufficient to execute a reorganization plan within the court’s guidelines. • The asset in question will not be needed to reorganize. • The value of the asset is rapidly eroding.
