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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Hi KILEY,
You can contact your bankruptcy attorney and convert Chapter 13 to Chapter 7. Rules vary from lender to lender. It will depend upon American General and Personal Finance whether they would remove their stuff or not. You will have to leave the property as soon as the bankruptcy trustee orders the sale of the property to pay off your creditors. |
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Melaine
Guest
0.10 Dollars($)
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| Hi there…I need some quick advice regarding my situation…We are presently in our Chapter 13 bankruptcy repayment plan and paying monthly payments to our trustee. Now, out of the blue moon, my husband has said he wants a divorce. I do not know what to do with my bankruptcy? Should we keep on paying? Do we stay married until the bankruptcy case is over? |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.11 Dollars($)
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Hi Melaine,
Any change in financial circumstances such as a divorce, loss of employment or illness are considered as suitable reasons to modify your bankruptcy. The bankruptcy trustee may consider the whole situation and might be able to lower your monthly payments, suspend payments for a period of time or convert your Chapter 13 bankruptcy to Chapter 7.
Right now, you should contact the trustee and inform him or her of the pending divorce. However, in order to get your request accepted, you will need to file the appropriate documents and have your case reviewed. You cannot simply state that your husband wants a divorce and get the bankruptcy trustee review your options. You have to show documents that you are living in a separate house or the documents related to divorce filings in order to get any help from the trustee. You should take the required steps quickly or else you may become delinquent on your repayment plan which may cost you dearly.
Take Care. |
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Tammy Welmer
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0.10 Dollars($)
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| I had filed for Chapter 7 bankruptcy years ago and was discharged of it in August 1999. So 10 years are about to complete. Since I filed for bankruptcy, I have kept my credit clean. I would now like to remove this bankruptcy from my credit record. What steps do I need to take for this? |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.11 Dollars($)
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Hi Tammy,
Congratulations to you!  It's great to know that 10 years have passed since you've filed for bankruptcy and still you've managed to keep your credit clean in such a hard time. I also appreciate the fact that you're proactive enough and want to take steps to remove the bankruptcy from your credit report.
You'll have to take some steps in order to remove the bankruptcy from your credit report. You should first pull out your credit report and check whether or not you're using the right account numbers. You can then make photocopies of your discharge notification, the accounts included in your original bankruptcy filing, Social Security card, your driver's license and verification of your address. Then, you should send certified mails to all three agencies - Experian, TransUnion and Equifax requesting them to remove the negative item from your record. Do not send the original documents. It will take at least 30 days for the credit bureaus to remove the negative item from your credit report.
Take care. |
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cinco
Guest
0.10 Dollars($)
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| My ex husband filed for Chapter 7. It was just discharged. We have a house in both of our names, that was included in the bankruptcy. I filed a motion to get it out of bankruptcy so that I could keep my credit good. If he signs a quit claim deed, can I refinance in my own name and protect my credit? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Hi cinco,
If the property was not included in the bankruptcy filing, then your husband can sign a quitclaim deed and transfer the property to you. Once he does so, then you can definitely refinance the mortgage depending upon your credit score and income.
Thanks |
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