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john53112003 · Joined: 21 Aug 2009 Posts: 1 1.35 Dollars($)

I AM WANTING TO FILE A CHAPTER 13 BANKRUPTCY IN
TENNESSEE,BUT MY LAWER TOLD ME NOT TO BECAUSE
THEY WOULD TAKE MY HOUSE SINCE IT IS PAID FOR.
IF I FILE A QUICK CLAIM DEED AND PUT IT IN SOMEBODY ELES NAME HOW LONG WOULD I HAVE TO WAIT UNTIL I COULD FILE A CHAPTER. 1YEAR ??
ALSO HOW LONG BEFORE I COULD PUT IT BACK IN MY NAME.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

john53112003

Welcoem to the forum

Probably it is a good idea to consult your attorney

Good luck and feel free to ask

jameshogg · Posted: Sun Aug 23, 2009 11:17 pm Post subject:

Hi john,

Once you transfer the property to someone else, you would have to wait for about 1 year and then file bankruptcy. Once your bankruptcy is discharged, then you can ask the person to transfer the property back to you.

Thanks

Posted: Mon May 03, 2010 2:24 pm Post subject:

Hi,

As per as my knowledge is concerned in chapter 13 the debtor usually remains in possession of the property and makes payments to creditors, through the trustee, based on the debtor's income over the life of the plan. Under chapter 13 a debtor proposes a plan to repay the creditors over a three to five year period during which the debtor can make up overdue payments on any assets and pay into the plan the equivalent value of any assets not covered by exemptions. It is therefore preferred for an individual who has a regular source of income. So, if you qualify, you can file chapter 13. If you want you can transfer your property to someone else, you have to wait for 1 year in order to file bankruptcy.

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

Hi,

As per as my knowledge is concerned in chapter 13 the debtor usually remains in possession of the property and makes payments to creditors, through the trustee, based on the debtor's income over the life of the plan. Under chapter 13 a debtor proposes a plan to repay the creditors over a three to five year period during which the debtor can make up overdue payments on any assets and pay into the plan the equivalent value of any assets not covered by exemptions. It is therefore preferred for an individual who has a regular source of income. So, if you qualify, you can file chapter 13. If you want you can transfer your property to someone else, you have to wait for 1 year in order to file bankruptcy.

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