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bankruptcy and eviction

Date: Wed, 01/13/2010 - 13:10
Submitted by on Wed, 01/13/2010 - 13:10
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My husband and I are planning to file chapter 7 bankruptcy in the next few months.We plan to inlcude all our credit cards and our home.We are in default on all our credit cards and this is the main reason for filing, but our home is in horrible condition,needs repairs we can't afford and is worth way less than we owe.We had our loan modofied and the payments lowered for 1 year but they will return back to a higher payment in Sept. We are current on house payments but my question is if we plan to file bankruptcy in the next few months anyway should we stop paying the house payment and save that money?


I would. I really dont know how far behind the courts are where you are. But here in Central Fl, they are so far behind I have a family member that hasnt paid her mortgage in a year and a half and is still living in the house. Her bank filed foreclosure papers last July but nothing has been done with the case. They are so far behind its ridiculous. Check with a lawyer on how fast you would have to move out. Odds are you would have at least 3 months before your forced to move out


Submitted by on Thu, 01/14/2010 - 06:20

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Hi, that really depends on how fast the courts are in your county. Here in Central Florida they are so far behind with foreclosures and bankruptcy its ridiculous. I know for our Ch13 bankruptcy our lawyer, as soon as we hired him, told us to stop paying the mortgage and credit cards till the Trustee sets your new payments, ours was a reorganization of debts so we could keep our house. But we skipped 7 payments before we started our new payment plan to the trustee of the court-thats were our mortgage and other secured debt payments go to now for 5 years. I have a family member thats has lived in her house for 19 months without making a single mortgage or house insurance payment. They didnt file for foreclosure until Nov 09. 19 months living free and she is still living there, they dont have a court date until 2/21. For us-we actually skipped 3 payments when our finances bottomed out before they even broached the subject of foreclosing on us, then they put us on a payment plan-all this before we decided to go ahead and file Ch13 bankruptcy-then we made our mortgage for 6 months and then hired a lawyer and filed bankrupt. So, best bet is really find a lawyer and get a free consultation. If you know your are definitly filing within 3-6 months I would quit paying the credit cards at least, it takes them awhile to get to a court anyways, your call on your mortgage, me I would quit paying and save that money to be able to hire a lawyer and moving expenses for a new place.


Submitted by on Thu, 01/14/2010 - 15:00

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Thanks for the help.We are a hoping that we can stay in the house a while and be able to save that money to move on.I have a real state friend here in Tennessee who told me it would be at least 6 months before anything would be done for not paying the house payment and I could live free that whole time.Im holding off on filing bankruptcy because we were hoping to have enough time to save money to move on and we thought we had to move the moment we filed bankruptcy.


Submitted by on Fri, 01/15/2010 - 11:07

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