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It depends on what the chapter 13 plan provides. Most 13s are started to save a home from foreclosure, so the debtor remains the owner until the plan is completed. If the debtor misses post-filing mortgage payments, the mortgagee will file a motion for relief from stay to get the court's permission to proceed with the foreclosure.
The plan can provide for the sale of the house, most often at auction, and the balance of the mortgage becomes unsecured debt to be paid according to the plan provisions for unsecured creditors.
Or the plan can provide for the surrender of the collateral (home) to the mortgagee, with the same result for the mortgage balance.
What else can I help you with?
How soon after filing chapter 13 can you hope to buy a home?
The best time to purchase a new home after filing for Chapter 13 bankruptcy depends on how long your bankruptcy will be. If you have your payments on a five year plan, then you may have to wait a little longer.
Does a chapter 13 bankruptcy filing stall foreclosure?
Yes. It is the most common reason for filing a chapter 13.
What happens if you wreck your car after filing for Chapter 13 bankruptcy?
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
How long do you have to wait to file bankruptcy after last bankruptcy?
You have to wait eight years after filing for Chapter 7 and 4 after filing for Chapter 13.
If you filed a Chapter 13 in 1998 and converted to a Chapter 7 in 1999 in what year are you eligible to refile a Chapter 7?
6 Years from the date of filing of the Chapter 13. (Only because it was converted).
How soon after filing chapter 13 can you hope to buy a home?
The best time to purchase a new home after filing for Chapter 13 bankruptcy depends on how long your bankruptcy will be. If you have your payments on a five year plan, then you may have to wait a little longer.
Does a chapter 13 bankruptcy filing stall foreclosure?
Yes. It is the most common reason for filing a chapter 13.
When can you file chapter 13 after filing chapter 13in the past?
You can file a another 13 after 2 years have passed from the previous 13 filing date.
A Chapter 13 bankruptcy filing is called a?
reorganization
Can you file chapter 13 but not want to keep home?
Sure...you can not want to keep the house without filing BK too
If you filed Chapter 13 four years ago when can you file again?
There are no time limits for filing a Chapter 13.
What happens if you wreck your car after filing for Chapter 13 bankruptcy?
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
How long do you have to wait to file bankruptcy after last bankruptcy?
You have to wait eight years after filing for Chapter 7 and 4 after filing for Chapter 13.
Do all banks have to cooperate when filing chapter 13?
Yes they do.
Passport after filing chapter 13?
Bankruptcy has no impact on obtaining a passport.
What if your income increases after filing a chapter 13 bankruptcy?
Chapter 13 is more of a repayment plan than a debt wipeout. Because of that, if there is a change in your financial circumstances after filing for bankruptcy then the court needs to be aware of it.
Can you receive a car accident insurance settlement after filing a Chapter 13 bankruptcy if the accident happened after the filing?
Yes
