Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.
Yes, you can request a forbearance agreement, which allows you to defer payments for 6-12 months in order to catch up and get back on your feet. Usually, a lender will require interest only payments or it can defer all payments during this time. Like a loan modification, the lender must agree to this, but they're usually much more likely to approve a forbearance because it is a short-term agreement as opposed to a loan modification.
Thank you for the advice. Also, my exhusband who is named on the Chapter 13 bankruptcy documents has not paid his half for 8 months now. I called the trustee and they said the only thing I can do is have him have sign a letter to garnish his wages. Well he now has no job and I am left paying the entire amount ($1400). Do I have any legal recourse with the courts to sue him for his half? What if I just paid my half would the courts look at this as a default on my part too? If it does go into default with the courts, what would be the likley consequence garnish my wages for the entire amount?
Thanks in advance
You can't sue him for his half unless the court specifically required each of you to pay half. Usually the court just requires that the debt be paid and doesn't divide the payment amount between individuals. Also, if the entire amount is not paid to the creditor, the loan will be in default.
I meant a default on paying the bankruptcy payment to the trustee?
If payments are not made to the trustee, he/she will file a motion to dismiss the bankruptcy based on the default in payments.
If that happens, do all the creditors threaten liens on the house, assets etc.?
Or is that a federal offense subject to fines etc?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).