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Forclosure/Bankrupcy in NH

My wife handled the family finaces and, without my knowledge, ran up 50K in credit card debt, drained the bank accounts to zero and dropped the divorce bomb on me (great week, huh?). Now we can't pay the mortgage and will likely lose the house in time. Would this be a wise time to consider bankrupcy (chpt 7 or 13)? I talked to my realtor that sold us the house and we can't sell the house for what we own on it. We're about 30-35K short by the time it's all said and done. Please help!!!

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi christhegolfer!

Welcome to forums!

I can understand your situation and pray to God that you come out of this situation soon. Yes, you can consider bankruptcy right now and I think Chapter 13 will be a better option for you than filing Chapter 7. Chapter 13 helps in reorganizing the debts. This will also help you to save your house. Here, the mortgage lender will give you an easier plan through which you will be able to pay off your debts within a period of 3-5 years.

Feel free to ask if you have further queries.


Like | Dislike | Share | Posted: Sun, 10/19/2008 - 19:34 | Post subject:

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