Hi, my name is XXXXX XXXXX X am a Bankruptcy and Consumer Protection attorney here to assist you.
Although possible, it is extremely difficult to file a Bankruptcy on your own, as there are over 60 pages of paperwork involved.
If you cannot afford to pay an attorney to fill out and file the Bankruptcy papers for you, the next best thing is to pay a Bankruptcy preparer to fill out the papers, and then you can file them yourself.
Bankruptcy preparers typically charge around $200 to fill out the papers.
If you and your husband file a Bankruptcy, each of you would be able to keep one car worth up to $3,675 (after subtracting the balance of any car loan).
You would have to wait one year after filing a Bankruptcy to apply for a government mortgage.
But you can apply for a private mortgage as soon as your bankruptcy is discharged.
If you file a Bankruptcy, you would not have to sell your home - unless it has more than around $50,000 equity. (Equity is the current market value minus the balance owed for the mortgage.)
There is no sure-fire way to get a mortgage company to work wityu
with you on tacking the past-due payments to the end of the mortgage - but many mortgage companies are doing so now, if they can see if you will be able to make the payments going forward.
Thank you so much for helping me with my questions. I think we only have about maybe, and that's a big maybe, around $15000 in equity in our home however Im just worried that if we were to let our home go in the bankruptcy we wont be able to get another one and would be stuck renting for quit a while and we really don't want to do that unless we have to. Can you tell me though, if we let one of the vehicles go with the bankruptcy, will it show as a repossession on his credit or will it just show as discharged in bankruptcy?
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