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adonis
Joined: 22 Oct 2005
Posts: 10242
Location: ALASKA
1042.50 Dollars($)
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Hi KILEY,
You can contact your bankruptcy attorney and convert Chapter 13 to Chapter 7. Rules vary from lender to lender. It will depend upon American General and Personal Finance whether they would remove their stuff or not. You will have to leave the property as soon as the bankruptcy trustee orders the sale of the property to pay off your creditors. |
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Melaine
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0.10 Dollars($)
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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: 2645
Location: New Brunswick, New Jersey
488.43 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: 2645
Location: New Brunswick, New Jersey
488.43 Dollars($)
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Hi Tammy,
Congratulations to you!  It's great to know that 10 years have passed since you've filed for bankruptcy and still you've managed to keep your credit clean in such a hard time. I also appreciate the fact that you're proactive enough and want to take steps to remove the bankruptcy from your credit report.
You'll have to take some steps in order to remove the bankruptcy from your credit report. You should first pull out your credit report and check whether or not you're using the right account numbers. You can then make photocopies of your discharge notification, the accounts included in your original bankruptcy filing, Social Security card, your driver's license and verification of your address. Then, you should send certified mails to all three agencies - Experian, TransUnion and Equifax requesting them to remove the negative item from your record. Do not send the original documents. It will take at least 30 days for the credit bureaus to remove the negative item from your credit report.
Take care. |
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cinco
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0.10 Dollars($)
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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: 10148
Location: Nevada
941.94 Dollars($)
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Hi cinco,
If the property was not included in the bankruptcy filing, then your husband can sign a quitclaim deed and transfer the property to you. Once he does so, then you can definitely refinance the mortgage depending upon your credit score and income.
Thanks |
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Sidetrack
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0.10 Dollars($)
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Post subject: Revoked discharge |
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| My wife and I filed chapter 7 in dec 2008. We got a discharge, but then I lost my job and couldn't pay the trustee 6000 dollars that he wanted because we had to pay state taxes and had to buy a vehicle, so he had our discharge revoked. We are wondering if the revoked discharge would keep us from getting a loan for a house? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10020
Location: Alaska
917.78 Dollars($)
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Hi Sidetrack!
Welcome to forums!
If you are still in your bankruptcy filing, then no lender will be ready to give you a mortgage. You will have to pay off the fees of the trustee and clear off other dues and get a bankruptcy discharge. Once you get the discharge, you won't be able to qualify for a loan immediately. You need to wait for 2 years in order to get a FHA loan and 4 years to get a conventional loan.
Feel free to ask if you've further queries.
Sussane |
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Sidetrack
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Post subject: Bankruptcy revoked |
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| Thanks for your reply. We got a letter the other day saying that the estate had been administered and that the case was closed. What does this mean if they already sent us a different letter saying that the discharge had been revoked? My credit report reflects that that my debt was discharged |
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jerry
Moderator
Joined: 17 Oct 2005
Posts: 2615
Location: MICHIGAN
415.19 Dollars($)
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Hi Sidetrack,
If your bankruptcy has been discharged, then you're not liable for the debts any longer. If you fail to understand the documents sent to you by the bankruptcy court, then you should get in touch with your bankruptcy attorney and he will explain the documents and clarify all your queries.
Thanks,
Jerry |
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scaredsarah
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0.10 Dollars($)
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| My fiance is selling his house and is waiting for it to go through. He had a clean break divorce with his ex wife however she has declared bankrupcy and he has received a letter from the receivers asking about contributions his ex wife made whilst living at the property with him for 11 years. Her name is not on the mortgage. Can we still sell and is he going to lose some of his equity? Thanks alot. |
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