Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
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
Did you file a chapter 13 bankruptcy which is a payment plan?
Can you afford your mortgage now or do you want to change the payment terms?
Yes it was chapter 13, With a payment of 295.00 a month to the trustee. for a minimum of 36 months. Before I filed bankruptcy, I tried loan modification which was unsuccessful due to the payment increase for 6 months they requested. My son also receives a military survivor check which just covers the mortgage.So I'm good with the mortgage for now... I drive a school bus and only clear aprox. 900.00 a month with the 295.00 for the trustee, 240.00 for car and life insurance. 100.00 att-uverse 150.00 US Cellular (I have a daughter in college) 30.00 a month in prescriptions for my HBP and acid reflux.With the utilities and a possible 25.00 co-pays if I get sick and need to go to my doctor barely have enough for food or gas in my car to get to and from work.
You have two options you can consider:
1. Dismiss your current chapter 13 case, and continue to pay the mortgage, and stop paying your other debts, by doing this you save payments to the creditors for some time, and you can file your taxes and keep your refund, then in 6 or 12 months if needed you can file a chapter 13 again.
2. File a motion to amend your chapter 13 to consider the lowered monthly income, this would reduce your payment plan since you have a decreased in income.
3. Convert your case to a chapter 7, and discahrge all your debts, and reaffirm the mortgage and pay them so you can keep your home.
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).