Posted on: 09th Apr, 2010 07:12 am
hi, i am converting a 13 to a 7. no word on that yet, had creditors meeting a month ago. i have not paid second in over a year. upside down on house. 2 months behind on 1st, but will be caught up by may. what can i do with this 2nd? i owe 35k at 14.50%. paid on it for 3 years, and it hasn't moved. can't refinance because of bad credit. can they come after me? will they settle for a cash payment? thanks.
Hi sandtastic,
As you're into a bankruptcy filing, the lender will not be able to come after you for the debts now. The loan can get discharged in your bankruptcy filing. However, if you reaffirm your debts while you are in Chapter 7, then you would become personally responsible for the mortgage dues again.
Thanks
As you're into a bankruptcy filing, the lender will not be able to come after you for the debts now. The loan can get discharged in your bankruptcy filing. However, if you reaffirm your debts while you are in Chapter 7, then you would become personally responsible for the mortgage dues again.
Thanks