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  1. #1
    Join Date
    Aug 2009
    Posts
    10

    Default Bankruptcy Bankruptcy and Affidavit of Support

    My question involves bankruptcy in the state of: New Jersey

    Long story short, I have a house in NJ that I bought with a partner, that I cannot afford. The house has gone in for foreclosure and both the bank and it's lawyers are un-cooperative for a Deed in Lieu. The question is what is my best option?

    My lawyer suggested bankruptcy. But which one would be better since I do not want to keep the house but my car?

    Will the bankruptcy have any effect in sponsoring affidavit of Support for my to-be wife? What is the minimum income required for affidavit of Support?

    Lets say I file for bankruptcy, are there any other improve my credit score over the years so that the bankruptcy damage is minimized?

  2. #2
    Join Date
    Aug 2010
    Location
    Michigan
    Posts
    15

    Default Re: Bankruptcy Bankruptcy and Affidavit of Support

    Yes, you will be able to build your credit back up. The mortgage company does not have to give you a deed in lieu, if they refuse, bankruptcy might be a good option. I am not familiar with "Affidavits of Support", perhaps my state does not do these, seek the advice of an attorney.

  3. #3
    Join Date
    Aug 2009
    Posts
    10

    Default Re: Bankruptcy Bankruptcy and Affidavit of Support

    But how could I get to keep my car and what really happens to my loan? Do I need to pay it back?

  4. #4
    Join Date
    Apr 2009
    Location
    Somewhere near Canada
    Posts
    35,894

    Default Re: Bankruptcy Bankruptcy and Affidavit of Support

    Quote Quoting BkAttyMI
    View Post
    Yes, you will be able to build your credit back up. The mortgage company does not have to give you a deed in lieu, if they refuse, bankruptcy might be a good option. I am not familiar with "Affidavits of Support", perhaps my state does not do these, seek the advice of an attorney.


    The Affidavit of Support is an immigration matter; OP is evidently trying to sponsor his wife-to-be. More info here.

    Agree that OP needs to speak with an attorney.

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