I filed a chapter 13 that failed because the judge thought there is still a little equity
in the home so the 2nd lien stayed on the house. I owe 245,000 on the first and a 150,000 on the second. the house short sale value listing in 250,000 if they can even get that. my second has filed a notice
of default and a stated intent to foreclose. I asked them if they can re-modify the second to 50,000. but they say no. the 150,000 is currently a line of credit intrest only at about 6-7%.
I qualify for the chapter 7
however, I did not state two vehicles that I have. a 1967 camaro and a 1956 chevy. both cars are project cars and do not run. the 67 camaro maybe worth 3000 and the 56 chevy about 7000. However, I am close to the 25000 limit and I wanted to shelter the cars. I could transfer the cars to my two older sons. I have not disclosed these cars to the attorney I am working with. My chapter 13 attorney told me to not include them when I filed the chapter 13.
I did notice that all my bill collectors wrote off what I owe them. Only one show up on my credit report. I also went to the hospital to check out my bill and they stated bankrupcy on it.
the question is should I tell my attorney about it or leave it out? do the trustees
run a dmv report on the vehicles you own? it didn't happen on the 13.