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 Posted: Mon Aug 18, 2008 7:11 pm Subject: Is HELOC discharged in Chap 13? |
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I'm hoping to file chap 13 to keep m y home. My 1st mortgage is $390 and Heloc is $120. This with utilities and car is about 80% of my income so there won't be much left for creditors. I've read tha Heloc will be discharged after the 5 year plan is up. Is this true?
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kinnewj
Joined: 15 Aug 2008
Posts: 7
Debtcc Points: 106
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| Posted: Tue Aug 19, 2008 3:35 am Subject: |
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USUALLY, all debts (with the exception of tax and certain legal liabilities) are discharged with a Chapter 13. But this is definitely something you want to clear up with your attorney, rather than relying on our advice. We are not attorneys.
You pay your attorney to protect your interests - this is definitely a question for him/her.
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SUEBEEHONEY70
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Joined: 12 Oct 2006
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| Posted: Tue Aug 19, 2008 6:44 am Subject: |
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We filed Chapter 7, but I can tell you that in our case, our attorney told us that if we did a Chapter 13, then at the end of it, our HELOC would be discharged. As Suebee says though, it would be best to discuss it with your attorney.
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alias1958
Joined: 31 May 2008
Posts: 1249
Debtcc Points: 7204
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| Posted: Tue Sep 23, 2008 2:49 pm Subject: tax debt and chap 13 |
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I failed to file yr. 2000 I owed 2400.00 and did not have the money to pay and just let it go. I received several letters and subsequently filed in july 2008 now I owe close to 9000.00 with int and pen. Can I include this tax debt in my chap 13 along with medical bills and credit card debt? thanks Lynn p.s. I have less than 200.00 left over at the end of the month and cannot pay my medical bill or tax bill. I have a lein on my pay check for the medical bill which is not effective due to another lein so those 2 debts are not being taken care of and interest is adding up. I do not qualify for chap 7.
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lynn grant
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Debtcc Points: 100
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| Posted: Tue Sep 23, 2008 4:51 pm Subject: |
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My understanding is that most taxes are not dischargeable in BK.
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alias1958
Joined: 31 May 2008
Posts: 1249
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