310.376.9865
I have an account on my credit report that has been written off, do I have to file bankruptcy on this debt? Or my house was foreclosed, and there is still a significant balance shown on my credit report, do I have to file bankruptcy?
1. An account that has been written off, does not mean the debt has gone away. This is an accounting term (the creditor must move the account from the asset to the liability side of the balance sheet), it has no legal affect on the debt. You still owe the money.
2. Your house has been foreclosed, and there is still a significant balance on your credit report. The debt may not be collectible, but you still schedule the debt on your bankruptcy (in some districts if you fail to list the claim, the claim would not be dischargeable.
A Debt Relief Agency
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
