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Bankruptcy Status on Debt settlement (Home Equity LOC)

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Anonymous
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Bankruptcy Status on Debt settlement (Home Equity LOC)

I had a HELOC loan with at local bank that went to court.  The Judge found for me and they then settled with me for a specified amount.  Later due to unforseen circumstances I had to file a Ch 7.  I retained the house and have modified the mortgage with IndyMac bank.  My question is: The court case has updated twice,  it updated from Judgement in favor of Def -> Settlement reached  -> now shows: Bankruptcy as it's status.  DO I STILL HAVE TO PAY ON THE NOTE?  I have had no contact from the HELOC bank since the Ch 7 filing.  I have made payments but want to know if I am required to continue to do so?

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scrubs
Regular Contributor

Re: Bankruptcy Status on Debt settlement (Home Equity LOC)

imo you dont owe the debt, but the debt is tied to the property not you. want i mean is you can walk away from the property and there is nothing can be done to you. if you dont pay they can foreclose on the house.

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