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Can you file a Chapter 13 and keep your home but move out and rent out your home for cashflow?

Anonymous

∙ 14y ago

Updated: 12/11/2022

You need to consult with competent legal council. When you file a chapter 13, you are putting all your assets into a repayment plan. A trustee would need to approve your addition of additional debt (the apartment rental). Since your chapter 13 payment plan is based upon specific income; it's doubtful you will have extra cash for a security deposit. This is because any disposable income goes towards your repayment plan. Secondly, how do you know the renters of your home will make payments. If they stop, you will end up renting and have to make your mortgage payments. It's a bad idea #1, and #2, doubtful, a trustee would allow it.

Wiki User

∙ 14y ago

What else can I help you with?

Can you keep your home if you file chapter 13 bankruptcy?

yes

Can you file chapter 7 in Florida and keep your home and property?

Can you keep your home if you file a chapter 13 bankruptcy?

Yes, as long as you keep making the payments.

If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?

Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.

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?

If you file chapter 13 can you keep your home?

Maybe. If you can pay for it. If not, with our without some form of BK, no.

Can you file chapter 13 but not want to keep home?

Sure...you can not want to keep the house without filing BK too

Can you keep your home in a bankruptcy in NC?

It depends on which "chapter" of bankruptcy you file. I suggest you speak with an attorney to see what you can do.

Can you keep your home if you file chapter 7 bankruptcy and owe more on your second mortgage than the first?

yes

Can I file bankruptcy and keep my home?

If it is determined that you do not have an equity position in your home that exceeds the state statutory exemptions, you will be able to keep your home in a Chapter 7, as long as you continue to be current on your monthly mortgage payments

Can you keep your cars when you file for chapter 7?

Yes, in most cases, a person can keep their cars when they file for Chapter 7 bankruptcy. It will ultimately depend on the bankrupt court.

Can you keep your free and clear home if you file chapter 7?

Probably not, but it depends on the value of the home and the exemptions available to cover that value.Consult a local bankruptcy lawyer.

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