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You should consult a qualified bankruptcy attorney in your area as laws from state to state, and the federal courts in your area may have a take on something that the bankruptcy attorney would be aware of. Your home likely has a secured mortgage or loan that you used to purchase the house. This is a debt secured by the property and therefore will need to be paid to continue to keep the house. However, bankruptcy law can be complicated and you absolutely need to consult with an attorney. It is highly likely that there are nuisances and protections regarding your home and the debt on it that would be benficial to know prior to making a decision to file for bankruptcy and the attorney may have other ideas other than bankruptcy that you find more to your benefit.
What else can I help you with?
Can you include a house in state a in a Chapter 13 if you are a temporary resident in state b?
Can you include a house in state a in a Chapter 13 if you are a temporary resident in state b?
What is the process of converting chapter 13 to chapter7 We are in chapter 13 and it looks like with layoff we have to go to chapter 7 and lose the house. What do we do?
You file a motion to convert to chapter 7. If you are eligible, then the court should grant it.
Are you allowed to keep your primary home and investment property if file you chapter 7 or 13?
If I file chapter 7 or 13 how long can I stay in my house?
How long can you stay in the house after you have filed a chapter 13 and givin the house back?
Its not your house, GET OUT!!!!!!!!!!!,,,,, until you get A legal notice.
Can i own a house and claim chapter 11?
Chapter 11 is almost exclusively used and available to by Corporations.
How does chapter 13 affect deficiency of judgment if foreclosure is emminent and house is unwanted?
Surrender the asset (house) to the mortgage holder. Any deficiency will be added to the chapter 13 plan to the same extent as other unsecured debt. You may want to convert to a 7 if the 13 was to try to save the house.
How do you buy a house while in a chapter 13 bankruptcy?
The chapter 13 petitioner/participant must receive the approval of the bankruptcy trustee for all major financial transactions.
After filing chapter 13 do you have to move out of your house any period of time?
Generally you should not have to because a chapter 13 protects your assets through the payment plan you filed with the court.
Can you claim a chapter 13 bankruptcy if you have any equity in your house?
Yes. That is probably one of the times this would be the correct Chapter to use.
Can you sell your house before the confirmation hearing?
Are you referring to a Chapter 13 bankruptcy confirmation hearing?
Will you lose your vehicle or house by converting from chapter 13 to chapter 7 bankruptcy?
Probably there are much more chance that you will be loosing your house and vehicle by converting from chapter 13 to chapter 7 bankruptcy. There is a $25 conversion fee that has to be paid to the court. Depending upon the status of your chapter 13 case.
What happens to someone in a personal bankruptcy?
It depends on whether or not you qualify for Chapter 7 or Chapter 13. For Chapter 13, you will slowly have to pay your creditors back over time. For Chapter 7, you have to assign a value to everything that you own. The creditors will then determine whether or not these items will be included in the bankruptcy in a hearing.
