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 Posted: Thu Jun 29, 2006 12:45 pm Subject: Bankrupsy serious important question please what shall we do |
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***RE:CHAP 13***
Hello just a few ?? im not interested in debt settlement nor consildation JUST BK. We are joint on some of our debts and though are joint with out title of our home/property and its paid for and were single just roomates for 17-yrs., but our debts with cc is about 20k and come this sept. we will not beable to make min. on 4-accounts because of finances. We are both disabled and total house hold income is 1600.00 ss and ssi so I have some q?? please.
1-should we file bk after or before i stop paying my creditors
2-can i sign in only what accounts to use for the bk
3-our home is forsale w/realtor right now, will we have to get it off the market prior to signing up for bk.
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forumfind
Joined: 29 May 2006
Posts: 3
Debtcc Points: 232
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| Posted: Thu Jun 29, 2006 12:54 pm Subject: |
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Creditors can take legal actions after the accounts become delinquent. But you can file for bankruptcy and discharge the debt even if you are current. Talk to a good bankruptcy attorney and he will assist you in filing the papers. Your creditors will be notified about the discharge of the debt.
Yes, you have the options to choose the accounts for filing in bankruptcy.
What type of plan are you considering under bankruptcy? If you chose chapter 7, the sale of house won't affect your bankruptcy filing. But, chapter 13 has a different approach. Talk to a trained bankruptcy attorney for professional advice.
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Gretchin
Debt Samaritan
Joined: 18 Feb 2006
Posts: 498
Debtcc Points: 8504
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| Posted: Thu Jun 29, 2006 1:03 pm Subject: my bk q?? |
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I thought chap 7 was where you will ahve to sell all your assets and proceeds go to the creditors and with chap 13 you are on a pymt plan to repay the creditors.
the home/property is paid in full and will not be put in the bk file only our debts. just was concerned if we choose chap 13 the judge might say well sell your home to reapy the creditors..i guess i need to know how each works chap7 and 13
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forumfind
Joined: 29 May 2006
Posts: 3
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andyyoung
Joined: 05 Jun 2006
Posts: 473
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| Posted: Fri Sep 12, 2008 2:24 pm Subject: chapter 13 |
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on a chapter 13 can you request to lower your payments due to mortgage going up and other things
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carmine
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Debtcc Points: 100
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| Posted: Fri Sep 12, 2008 9:56 pm Subject: |
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Carmine,
You would have to talk to your BK attorney first about lower your payments, and then he would forward your info to the BK trustee to see if your payments can be modified.
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mlm1947
Joined: 12 Aug 2008
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Debtcc Points: 1086
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