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Deadlift
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0.10 Dollars($)
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Post subject: Dismissal and refiling or amendment |
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| Our monthly 13 payment has caused my business to get behind on monthly obligations. We are 2+ years into it and have made timely payment until about 2 months into this year. They paid on the secured amounts such as back taxes, mortgage and car payments. We have yet to touch most of the unsecured credit card debt. If the case is dismissed and refiled to lower the payment by about half acording to my calculations can the credit card companies and their agents file claims for accrued interest from the date of original filing 2+ years ago and tack that amount on to their new claim when and if we re-file? What other options do we have since we are now facing dismissal due to default? Are my only 2 options to file an amended plan or get it dismissed and refile? |
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adonis
Joined: 22 Oct 2005
Posts: 10242
Location: ALASKA
1042.50 Dollars($)
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Post subject: |
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Hi Deadlift,
In my opinion, you should first contact your lender and inform them about your hardship. Check out with your lender whether or not he is ready to give you a new payment plan. If not, then I think you'll have to get the bankruptcy filing dismissed and refile it. However, contact your bankruptcy attorney once and take his opinion in this regard.
_________________
Procrastination is the enemy of your financial success |
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Duckie
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0.10 Dollars($)
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Post subject: Unsecured Credit Card Debt |
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| Does a Chapter 13 repayment plan stop credit card interest from accruing? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
941.94 Dollars($)
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Post subject: |
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Hi Duckie,
As far as I know, if you file Chapter 13 bankruptcy and if it's accepted by the bankruptcy court, then your creditor cannot sue you for the credit card debts. Moreover, as it's an unsecured debt, it would be discharged.
Thanks |
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marluci
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0.10 Dollars($)
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Post subject: chapter 13 |
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| I was told by my lawyer that when you file and lets say your debt is 50 thousand and aftr the 5 years plan you could only repay with the payment plan 30 thousand that after that time they right off the balance due |
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adonis
Joined: 22 Oct 2005
Posts: 10242
Location: ALASKA
1042.50 Dollars($)
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Post subject: |
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Hi marluci,
In Chapter 13 bankruptcy, you will get a payment plan depending upon your financial situation. Your lender will judge your financial situation first and then give you the repayment plan. As per that payment plan, you would have to clear off the mortgage dues. But I don't think your balance would be forgiven by the lender.
_________________
Procrastination is the enemy of your financial success |
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mcsan55
Joined: 04 Sep 2009
Posts: 2
1.56 Dollars($)
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Post subject: costs |
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| If you had to make a "guesstiment" what do you think it would roughly cost to do all of this on roughly $35000 debt? |
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Guest
0.10 Dollars($)
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Post subject: |
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| I think it would be difficult to make a "guesstiment". You can contact a bankruptcy attorney and he would help you in this regard. |
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anon
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0.10 Dollars($)
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Post subject: chapter 13 |
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My husband and I are considering filing for bankruptcy. My question is this..... I am a co-signer on my mother's bank accounts. I need to be reassured that my bankruptcy will in no way hurt my mother, nor would she even be contacted about my personal situation, even though my name is connected to her money market and checking accounts.
Thank you. |
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
941.94 Dollars($)
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Post subject: |
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Hi anon,
As you and your husband are filing bankruptcy, your mother will not be affected due to this. Her credit will not get ruined as she is not jointly filing the bankruptcy.
Thanks |
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dee
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0.10 Dollars($)
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Post subject: Chapter 13 |
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in P.a. They say you have to make under 41,000 to declare chapter7.
I do not have enough money to Pay chapter 13.I do not own anything.
I owe approx.50,000 on unsecured debt. What would my monthly payment Thanks |
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smithsussane
Joined: 18 Sep 2008
Posts: 10030
Location: Alaska
919.49 Dollars($)
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Post subject: |
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Hi dee!
Welcome to forums!
The bankruptcy court and your creditors would look into your situation and would come up with a repayment plan for your unsecured debts. It will depend upon the bank as to what your monthly payments would be like.
Feel free to ask if you've further queries.
Sussane |
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Deborah B
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0.10 Dollars($)
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Post subject: IRA with 72 T |
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| I was told by 6 attorneys so far I should have filed chapter 7 bankruptcy. But I am encountering a problem. I have an IRA with the 72T rule. I am so glad because I only have a part time job and desperating looking for full time work. I am single. My only asset is this IRA. I am researching on line and everything I am reading shows it is not protected under chapter 7. What about chapter 13? 3 attorneys would not gaurantee the protection of this IRA. HELP! |
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Post subject: |
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| Deborah...as far as I know, IRA accounts are protected under the bankruptcy law. Your creditors will not be able to touch your IRA account though you file for Chapter 7 bankruptcy. |
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tasio
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Post subject: life estate deed and chapter 7 bankruptcy |
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| my mother transferred the deed to her home to me in a life estate, she has all rights to remain there until she dies, i cannot sell it until she dies, she is healthy. if i file chapter 7 in florida, and the house is in new york, can they put a lien on her home until she dies and it can be sold, which may be 15 years or more, and if i transfer the deed back to her and file chapter 7 eight months prior to filing bankrupcty will that appear fraudulent? I have no assetts other than my name on that deed, which means nothing because I cannot sell it. |
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