Does a bankruptcy contingency need to be specified in a home purchass contract?: I am the buyer in a Chapter 13 and have been preapproved for a home loan. I am about to start seeing houses and wanted to know when my realtor is sending a contract for an offer does the contract need to have a bankruptcy contingency?
Terrance’s answer: Hi. You will need to get court approval once you go under contract, in order to purchase the home. So, yes, you should put in the contingency, so if the approval is not obtained, you can get out of the purchase. The court and trustee want to see that the home purchase is reasonable, necessary, and affordable in addition to your other expenses and the bankruptcy plan payment. Since there are many variables, and some may be jurisdiction specific, talk to your lawyer who can help. If you don't have a lawyer, reach out to the help desk for your court if they have one, and talk with the trustee's office to see their position. You can also hire a bankruptcy lawyer for the remainder of the case too. Good luck
I filed bankruptcy and my husband is a disabled veteran and they included his income in my case and: I filed bags d they included my disabled husband who is a veterans income and now I can barely make the payments
Terrance’s answer: Hi. The bankruptcy schedules require a bankruptcy filer to disclose all household income and expenses on the schedules and means test. Consult with your attorney to review the current budget if the plan is becoming unfeasible due to changes in circumstances. The court can allow a plan payment to be modified, up or down, based on these changes in some circumstances. There are certain minimum requirements that must also be met, so your lawyer would be the best person to review your current situation to get you advice on any potential plan modification. Good luck.
My question is how do I go about getting help filing for bankruptcy?: I am facing an auction of my home due to default. I'm on disability and have very limited resources but want to try and save my home. The auction is to take place Oct. 16, 2026 so time is critical. Can anyone offer some advice or suggestions?
Terrance’s answer: HI. you need to talk to a local bankruptcy attorney ASAP or check to see if the local bankruptcy court has a pro-bono help desk that can assist you with filing a chapter 13. You need to file before the sale date to stop the foreclosure so time is of the essence. They can review the filing requirements and what it will take for a successful case. Good luck.