Hi - I'm not sure if i need to reply yet as I'm assuming you are looking at my info and questions but I guess it doesn't hurt - sorry I've never used anything like this
yes I am aware of what will happen if i continue with the BK but if the lender would normally sell the bad loan wouldn't it make more sense to try and buy it out or hire a firm to buy it for me similar to what the factoring firms do
thanks for the link - understand the bank can still try and collect but when they determine that they are unsecured wouldn't they be more apt to sell it off or negotiate a discounted buyout
OK so since they have just been notified about the 13 filing and my meeting with trustee is in two weeks, what is the best logistical approach - call them now; wait till after strip is approved
what are my options for cancelling/withdrawing the chpt 13 filing - is there a certain point after which you can't
I'm basically trying to figure out if there is a "sweet spot" of time in this process to maybe get a deal done with the bank from threat of chpt 13 but still within a time frame that i could not have to complete it
so how do i find out if my loan was insured and if insured is it legal for them to try and also collect from me
if/when you dismiss a bk13, can you get off your credit or is there just like if you went the entire 5 yrs
when i ask my bk attorney if we can/should approach the lender he says not to do anything until it's stripped - kind of like don;t wake a sleeping giant - but should that matter
does the 7 years include the 5 yrs of being in the chpt 13 plan or is it 7 years after the 5yrs
does the 7 yrs include the 5 yrs of being in chpt 13 or does the 7 yrs start after the end of the 5 yr chpt 13 plan is completed
so if the loan is insured are they required to remove the lien; and if so at that point would it make sense to dismiss the BK since they couldn't go after me
how can i find out if the loan is insured - can i find out without contacting the lender - is there a way to look it up - would there be any reason they wouldn't collect on the insurance
OK - have you had any experience where the fed gov goes after someone - is the only protection from the fed BK - I haven't heard of the gov going after people who defaulted on home loans like when they go in to foreclosure, etc...
OK - then its probably not insured so then its a matter of trying to buy it out - but it seems like since we have already filed we will have this on our credit so i guess it makes sense to move forward for now and while in it I guess i or lawyer can contact them to see if they want to do a discounted buyout - if they know it's being stripped I'm assuming they couldn't wouldn't sell it to one of those co's since it has no value so maybe they would be willing to do a buyout - what do you think
Kirk - you have been very helpful - thank you - if i want to speak to you in the future how do i get in contact with you
ooh - so what is the pending period - my trustee meeting is the 25th
do you have a phone number or is that not OK
so generally how long is that fro the time we have our meeting
OK - you have given me some helpful info with which to work with my attorney
Thank you - I guess it's time to sign off - btw what part of the country are you in if you don;t mind me asking
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