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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » what is the process and requirements to file bankruptcy?

what is the process and requirements to file bankruptcy?

i have several rental property, i am renting them and i am bearely getting enough money to pay the mortgage., this year i gota pay taxes insurance close to 36k in taxes, and i dont have that money., should i file for bankruptcy? should i let the houses just go foreclosure? what is worst? pls help

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2 Responses to "what is the process and requirements to file bankruptcy?"

  1. chloe412 says:
    I just filed for bankruptcy myself and you can’t get taxes dismissed, you will still owe the taxes so if that is the only reason you are considering bankruptcy, this won’t help you. also depending on what chapter you file, 7 or 11, you may loose your property. hope this helps somewhat.
  2. Steveo says:
    If you live in a state where the banks can go after you for a deficiency, then you are up the creek.

    Check with an attorney, or check with the mortgage company.

    You are in a no win situation.

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