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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Hello, I have filed a chapter 7 bk, and had my meeting with

Resolved Question:

Hello, I have filed a chapter 7 bk, and had my meeting with the trustee. my house is co owned with my brother, we inherited it from our mother. My former house in Tucson is in forclosure, I took out a reverse mtg. on the inherited house, using money received to make needed repairs to the house so we could live in it. I received 150,000 in reverse mtg.,paid 100,000 back, which is no longer available to me, I have spent approx. $35,000 on repairs, taxes, gave my brother $5,000 for his bills, and have used some to just live. I have a little less than 20,000. left with taxes due again. I am on social security, income of 800.00 a month. When I filed bk, I didn't think about the remaining money, or any money as I haven't used any for a long time. Now the trustee is going after 50,000, my attorney said I have to pay it, and with no visible means to do so, what am I supposed to do? My atty is not on my side and I feel he is not trying to help me at all. If the house was sole and separate, I can understand what they are saying, but because this house is joint, I made the repairs, etc. to have a place for us to live. There is a homestead on this house for 150,000, a mtg of 61,000 (interest included) and a market value on this house of approx,. 225,000. Should I get a new atty to help me or what should I do?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.
Welcome to JustAnswer,

So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification by using the reply button.

Presently it appears that the bankruptcy trustee may force the sale of the house you own with your brother. To prevent this from occurring, you may want to consider dismissing the bankruptcy and filing at a later date after you have retained a different lawyer and engaged in some bankruptcy planning.

You have the absolute right to convert to a chapter 13 bankruptcy and once you have converted into a chapter 13 bankruptcy you have the absolute right to dismiss the bankruptcy.

Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.
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Customer: replied 5 years ago.
My atty told me there is nothing I can do once I have filed chpt7, I would like to do a 13 and dismiss the bkrptcy. He said that even tho I dismiss the bk, the trustee can stay in the loop and make me pay the 50,000 anyway,m and my dealing with the creditors thru consolidation will do no good once the trustee is involved. I'm not sure that I understand that, can he still force a sale even tho I dismiss the bk?