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Chapter 7 and Security Deposits

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  • 10-04-2005, 11:48 AM
    jeremy24175
    Chapter 7 and Security Deposits
    Mortgage company filed to foreclose. We filed chapter 7 and last week we paid a security deposit on a house because we were worried about being evicted shortly after the 341.

    I was told that I didn't need to worry about it because it was paid after the filing. Is this true.

    We don't want to lose the deposit because we will lose our current home.
  • 10-04-2005, 02:46 PM
    Mr. Knowitall
    Foreclosure, Eviction and Bankruptcy
    You mean, you are concerned about being evicted from your present home due to the mortgage foreclosure? Following the filing of your petition, the automatic stay will prevent an eviction on the basis of the foreclosure, until the stay is lifted - which would typically occur either upon a successful motion from the mortgage lender (which would be an unusual request in these circumstances) or at the conclusion of the bankruptcy.
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