I understand legal advice is not offered here! I am asking a general question about whether signing a settlement agreement post-bankruptcy means you lose bankruptcy protections. The info here is for background.
My brother is getting a divorce in Oklahoma.
Here’s the sticking point on the final settlement agreement:
He and his wife owned a home in Oklahoma. The wife refused to sell it, even though he could no longer make mortgage payments.
The house went into foreclosure. My brother filed chapter 7 bankruptcy due to this and the other mounting debts. The bankruptcy was discharged about a year ago.
My brother signed a quit claim deed on his family attorney’s advice, giving the home to the wife. (The bankruptcy attorney also agreed this was okay to do.)
The divorce settlement agreement, however, has language that states he is to pay for any deficiency in the short sale of the home. My brother doesn’t want to sign this as he is worried it will take away his bankruptcy protections.
The question: If my brother signs this settlement agreement, does he give away his bankruptcy protections?
submitted by /u/JohnandJazz77
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