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ok i list all creditors and a new one, an old land foreclosure coming for its money, i can manage all old debts but this foreclosure debt is too much, so can i just list the foreclosure as not payable whatever
Optional Information: State/Country relating to question: New Mexico
Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarification.
You would list the old debt, however in a chpater 13 you have to make a payment plan for all your debts, the plan is dependant on how much excess income you have monthly after paying all your monthly expenses, so if your excess is $200 per month, you would have a payment plan for all your creditors of $200 over 60 months,.
If you do not have any excess income monthly consider a chapter 7, and discharge all your debts without any payment plan.
Experience: 10 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
in a ch 13 br do a Pension plan and social security get used for the
payment if thats what you have coming in.
Yes, you would have to include it as monthly income and money to pay your creditors.