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tweetymeme · Joined: 14 Jun 2010 Posts: 1 1.32 Dollars($)

I am presently with a Debt Settlement program, the fee charged is $2,108.00 per month. We have a home that is estimated to be $315,000, and have a 1st mortgage of 64,000.00 and an equity line of $160,000, We are both retired. My job was outsourced going on four years ago, and we are living on a limited income. My question: Can I file for a chapter 7 in the state of NJ and still keep my home?
Marie

smithsussane · Posted: Mon Jun 14, 2010 10:25 pm Post subject:

Hi tweetymeme!

Welcome to forums!

You will have to contact a bankruptcy attorney and check out if you can clear the means test. If you clear the means test, you will be able to file Chapter 7.While you are in bankruptcy, you can reaffirm the mortgage, pay the dues on time and save the property.

Feel free to ask if you've further queries.

Sussane

rita2 · Joined: 23 Apr 2010 Posts: 286 51.03 Dollars($)

Hi Tweetymeme,

Let me tell you that you have selected a wrong debt settlement company. There are debt settlement companies who can give you better options. Do a market research and check out other debt settlement companies. However, if you think chapter 7 is a better option for you then consult with a good bankruptcy attorney to get detailed information.

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