I file for Chapter 13 several weeks ago and now every account in my credit report is listed as part of the Chapter 13 plan and there is record of the Chapter 13 been filled with the court. They plan hasn’t been confirmed. What happens if I decide to withdraw the filling? can I do this? what happens to my credit? and how my possibilities to (ie. apply for an apartment) be affected?
I’ve been looking at an informational site and couldn’t find anything that would answer this question plain and simple. For Chapter 7 it said you could keep clothes and furnishings and something else but it wasn’t house. It said everything of value had to be liquidated to pay the debts. For Chapter 13 it said something about mortgage, but it made it sound like it had to be paid off in 5 years, which I know for what my sister owes on her house, she’d only come close if they weren’t charging any interest during that time. If worse comes to worse for my sister and she ends up with her cars going into repossession and house into foreclosure, and she files bankruptcy, can she keep her house and one car, or would she have to sell them and start from rock bottom all over again?
I’ve been renting for 3 years now after filing Chapter 13 in 2007. I’m converting to a 7. Will I be able to get a mortgage once the 7 is filed very soon after? My lease is up in May. I don’t have anything for a down payment or closing costs.
After trying to find ways to be able to take care of our responsibilities we have come to the last resort and that is to file bankruptcy. We don’t own any homes or any real property. what I am curious about is which is better chapter 7 or chapter 13. We want to be able to start saving a soon as it done and when feesible start rebuilding credit. Our credit card debt is only 00 which is a lot, but it could be worse. We just had two bad years with this one being the worse. I am looking for advice on the best way to go between the two. Chapter 7 or Chapter 13 and why.
We are not happy about doing this as we have tried everything. We don’t have anything of value and we have tried to pawn stuff but couldn’t get .00 for most. We live very modestly. So please do not answer this question if you are going to be negative.
Thank you so much. We want to do the right thing so we can start over and never have to do this again.
Thank you so much for all that has given advice so far. I guess I need to add just a few details to make the situation clearer.
As I stated it has been a bad 2 years, actually almost 3 years. I got real sick and had to leave my job and am now on disability. My husband took on a second job a year ago. He pays child support. Between the two of us we have 5 kids between the ages of 9-16. We have two vehicles, which one is in the shop. We also are surrendering this vehicle.
We have an attorney and he is recommending chapter 13. I (we) have a lot of medical bills. After I had to leave my job I couldn’t afford the cobra payments for continued health insurance. To maintain health insurance with my husbands employment (state worker) would have cost more than the cobra payments.
My ex- husband filed bankruptcy and I did not know that anything he had when we were together, came back to me.
I never thought I would get sick and have to quit work. I was not prepared.
I filed Chapter 13 in 2004 while I was in the military. Now I’m out and am about 0,000 in debt for medical bills. Will I be able to file for a Chapter 7 since I’ve already filed once before?
The lawyers that helped me file the first time never said anything about a Chapter 7. They told me that Chapter 13 was the only option available for filing bankruptcy.
My friend just told me that he did the preliminaries to start to file for Chapter 13 over the phone and it cost him 95.00. Did he just get scammed?
If a person has a lot of unsecured debt that has been charged off by the lenders and the person is not eligible for Chapter 7, should they file Chapter 13? What are the benefits of filing Chapter 13 in this situation? Thanks!
Filed for a chapter 13 but could not come to terms with the payment and the modifications that the court wanted. never made a payment on the plan and it was dismissed 60 days later. I negotiated my own terms and paid my creditors off. Now I have a big negative on my credit report for a plan that was never used.
We are going to be entering into Chapter 13 in a few months. My job however is pressing me to finish my degree. We do get some reimbursement, however its not enough to cover the complete cost. Anyone had this issue?
We got a large tax return this year in early February. We are now in the process of filing chapter 13 and have to provide 6 months worth of income history. Will the trustee consider our 5,000 tax return as part of our income? I know that they will take future returns. We actually had to file an amendment and now have to pay 2,700 of that back anyway, so it was really only 2,300 in excess. Also, can I include this tax debt in my repayment plan?
My daughter did a chapter 13 about 6 years ago. She is back in the same situation. Now she wants to just do a bankruptcy. What is the waiting period?
We just settled with BOA and Chase at 50 percent instead of going chapter 13. Citibank has not settled. If we let our 3 cards totalling 12,000 go to collections will they settle for less?
Yes, I know we need to file any settlements as income with the irs on 1099 forms.
How long do you have to wait to try and purchase a home after filing Chapter 13?… What or where are the banks that will finance a mortgage while in a Chapter 13?…
We have completed our first of five years of a chapter 13. Unfortunately, our marriage is not doing well and we are separating. I am hoping things can work out, but if not, is it possible for us to switch to a chapter 7 and get a complete fresh start so we can both be able to walk away from everything and start over? It is in the State of Ohio.
i already payed one month which is only 0…but i just relized chapter 13 is basically the same thing …can i call my debt settlement company and canel with them?
I have been working on a "plan" with my attorney and trustee for almost a year now. Now they want to increase my payments to a point where I cannot afford it. I may want to dismiss my case but what happens when I do that? I know I am thrown back to the sharks so to speak as far as my creditors go. Do I have to wait to re-file another Chapter 13 plan with a different attorney?
I have consitently paid on my chapter 13 to the courts for about 1-year now. However, I am still behind on some properties I own and need to refinance everything I ahve. Any ideas? No the bankruptcy ahs not been discharged. ASny private investors out there who will take a chance on a guy who wants to turn it around and wants to start over?
I hear a lot of people always say "You can keep your property under Chapter 13". What if you don’t want your home becaue it is the main source of you going bankrupt?
After the back money owed on my house is paid under the chapter 13 law, can I file chapter 7? Iit is going to be paid by my new husband, which is allowed because it happened before we were married. it will has been 18 mths since filing 13 and am making all payments on time.
I am currently in a chapter 13 bankrupcy and my car is included. My car was totaled this week and now I want to know how this will affect my monthly bankrupcy payment and term. Payoff on the car is 17k and insurance is giving me 20k.
After you file a chapter 13, is it possible to refiance, and does it hurt or help your credit?
A chapter 13 bk is likely in my future. I’m looking for some real world pros and cons about this scenario:
I’m in chap 13 and making my payments, and I see a 00 auto repair coming at me. Would the trustee let me slide on 00 worth of payments to take care of the critical auto need ? IE, how do judges handle unanticipated expenses that happen while you’re in chapter 13 ?
The other alternative that I see is – stop paying my mortgage and bank those funds. Hire the bk attorney, get it all ready to file, then sit on it. Keep ignoring the mortgage and accumulate some cash until the foreclosure sale is imminent, THEN have my attorney file the chapter 13 to stop the foreclosure and add the mortgage arrears into the payment plan. This gives me a cash cushion to handle the surprise expenses.
Comments please ?
The trustee will not confirm our Chapter 13 BK because we have too much debt per the guidelines for a 13. We were self employed but aren’t any longer, but the majority of the debt is from our previous business.
Can I move to another state and have another lawyer take on my case if I have already filed a Chapter 13 in Pennsylvania? Do I have to continue my court case in the same state? Am I committed to stay in Pennsylvania until the case is done? Or can I move to Colorado at any time and take care of the Chapter 13 in Colorado with another lawyer?
a chapter 7 or a chapter 13? I have a sale date on my property coming up…loan modification is out of the question..I have credit card debt that I cannot and have not paid for..and Im ready to file..please tell me which one will stop (Temporary..my foreclosure until I have alternatives?)
I have really good credit. My fiance made some really bad decisions in the past and has terrible credit. (credit cards, overdrawn bank account car loan …..) We are buying a home . We are planning on getting married next year. I am wondering would it be better for him to consolidate his bills and us try to pay them off or should he just file banktruptcy? We plan on doing something before we get married. We dont have any savings and I have a child and he has three from a previous marriage that he pays support for. My concern about debtconsolidation is that we wont be able to make the payments with everything else we are having to take care of. How bad is a debt consolidation or bankruptcy going to look when we do tie the knot if I have really good credit. Also what kind of affect does that have if any on employment?
I am already buying a home so that is not an issue
I am also being told that chapter 7 and chapter 13 affects your credit in the same way and tat both stay on there for ten years
He no longer has credit cards or bank accounts. All of these things on his credit have been on there since before I met him. I asked for financial advice not for someone to make negative comments about bad decisions made in the past. As for having a budget we already live togather and pay all the bills togather We already have a home that we are buying.
We both work. Who doesnt?
do auto payments go in to a chapter 13 bk, even if you’re current? Behind on credit cards, and trying to save home. Do auto payments go in, or stay seperate?
We are having a discussion here and we were talking about chapter 7 and chapter 13. My friend says that there is no limit on how often a chapter 13 can be filed.
Who qualifies for a Chapter 7 and how would I know if I do qualify what about chapter 13 who qualifies for this?
I am in Ohio and do not want to file chapter 13. Looking to make settlement to credit cards. I am looking for reputation companies that do credit card settlement. What do these companies charge. 50,000 in credit card debt at 23% apr.
Do not want to go to consumer counseling, we can get a loan from family for 25,000 to pay off total. Can not afford to pay anymore. We need to help our son who has some medical issues.