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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17248
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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We went bankrupt a year ago and the mortgage co wants to foreclose.

Resolved Question:

We went bankrupt a year ago and the mortgage co wants to foreclose. Can we still file ch 13 to keep our home?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 6 years ago.


Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on


Did you file a chapter 7 or 13?


Was it discharged?

Customer: Chapter 7 it was discharged

Than you can only file a chapter 13 bankruptcy if you want to have a 100% payment plan for the arrears, you would not be able to file a chapter 13 and have a plan less than 100% for any unsecured debts.

Customer: I don't understand that. If we file ch 13can we save our house by paying our mortgage co

In a chapter 13 bankruptcy, you stop the foreclosure by filing, and you have to pay the arrears you owe in a 5 year payment plan,


at 100%, regardless if you received a discharge in a chapter 7 you can still file the chapter 13 only on the home


So if you missed 6 months mortgage, the chapter 13 payment plan would allow you to pay the 6 months through a 5 year plan,

Customer: I understand now.thank you.we have an appointment with lawyer on Monday. We used him with the ch 7 we filed

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