Personal Bankruptcy Corporation filing Chapter 13

[wavemaker]

I have a property that is in foreclosure that is owned by a coporation and the property is the sole asset of same .... I am planning to file bankrupcy (chapter 13) to stay a scheduled sheriff sale but am concerned that my mother who signed on behalf of the corporation for the mortgage that is currently in default may have her other assets attached..... how can I insulate her from any negative results of this course of action? Is she insulated or will she have to personally file bankrupcy to stay the sheriff sale? She has ownership in her own home and I would hope that I could stay the sheriff sale without effecting her personal credit rating and potential home ownership liability .... anybody with any experience / thoughts / suggestions on this matter please post a reply..

 

[presutin]

Your mom's asset may be compromised if you file for bankruptcy without the proper advise. Consult with a bankruptcy attorney as soon as you can. Good Luck!