Loans away from a home guarantee line of credit is discharged within the personal bankruptcy, nevertheless the financial may foreclose with respect to the items.

How a property guarantee credit line (HELOC) is treated into the bankruptcy proceeding relies on what kind of personal bankruptcy you document — A bankruptcy proceeding otherwise Chapter thirteen.

What’s a HELOC?

Property guarantee personal line of credit, otherwise HELOC, try a personal line of credit, that’s lent into an “as needed” base.