Homeowner Association Fees In a Bankruptcy

: Chris Lee Law Firm

  Filed under: Mortgage

feeNo doubt you are wanting an entirely clean financial start at the conclusion of your bankruptcy. Therefore you are anxious to know what is going to happen to the individual debts that you have. One debt that many have is the homeowner’s association fee. These are ongoing dues and depending on which bankruptcy you are under, these debts may become discharged. You would only want to do this if you have decided to give you home or condo through the bankruptcy.

Managing Fees

If you are retaining ownership of these then you will definitely want to keep in good standing with the dues. If the HOA debt is still accruing after you file for bankruptcy then you will still be libel for these.

When you file for bankruptcy you have to let the courts know what your intention is regarding the property you intend to keep. A lot of times individuals have come to the conclusion that they simply cannot afford to keep their present home and decide to surrender it in the bankruptcy proceeding. If this is the case then usually the HOA debt is included in this.

Just remember though, that debt discharge does not include that which is created after the bankruptcy. Your Dallas bankruptcy attorney will make you aware of all these factors and what your options are.

There is a lot to learn about bankruptcy and it can be over whelming, this is why it is so comforting as well as important to have legal counsel on your side.

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