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When you fill out the forms for the bankruptcy, make sure that you "reaffirm" the mortgage. That means that you will continue to pay the mortgage as agreed. The bankruptcy trustee that will be assigned to your case will guide you through the rest. HIRE AN ATTORNEY!! IF you own a home,,,NEVER go it alone for a bankruptcy.
There is paperwork to fill out and a judge has to approve the dismissal. You can submit it to the trustee or judge in charge of your bankruptcy. If you have an attorney, the attorney can do this for you.
Yes. If you have had 12 months of on time payments to the truste and your mortgage has been paid on time,While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.
No. But if you have equity in your home it may not be the best approach. A chapter 13 is designed for a situation where the person has equity or is behind on payments. In a Chapter 7 - You will be asked to pay the Trustee the value of the equity of your home... so if you have $15,000 in non-exempt equity, you'll most likely have to write a check to the Trustee for $15,000 or surrender the home. no ,but if you include the Mortgage on your property in your bankruptcy,most likely you will have to surrender the property to a court appointed trustee
You will need permission from the trustee before doing anything financial while in chapter 13 bankruptcy. You will have already signed paperwork agreeing to full disclosure with your trustee when you filed.
This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.
You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.
Contact the trustee who is in charge of the case.
Yes, if your equity in the house is greater than the exemption you can use and you cannot pay the trustee the difference, or if there is no mortgage on the house and its value is more than the exemptions. If you are current with your mortgage when you file and get behind on your mortgage during the chapter 7, the mortgagee can foreclose. Consult a local bankruptcy lawyer.
While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.
If you are in a Chapter 13, then you must get approval from the trustee if you wish to incur more debt.
The chapter 13 petitioner/participant must receive the approval of the bankruptcy trustee for all major financial transactions.