In a Ch 13, can I rent out house to get more income to fund plan?
Boston, MA
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Posted 26 days ago in Bankruptcy / Chapter 13
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I am unemployed and because of alot of tax debt and mortgage arrears I have a large monthly payment plan. I was thinking of renting out my house to bring in more income so I can fund the plan. Is this okay or is my house now "Investment Property"?
Answers (1)William J Mcleod
This attorney is licensed in Massachusetts and 1 other state.
Posted 26 days ago.
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It's difficult to answer questions like this in a bubble - i.e., without knowing everything about your financial situation and the status of your case.
If have an attorney in chapter 13, you should talk about your options which might include suspending payments for a period of time through modification, or perhaps reducing your payments until you are reemployed. Again, I cannot definitely say that these options are available to you - because I know very little about the details of your case. And in bankruptcy, details are important. If you do not have an attorney, contact the Pro Se Law Clerk at the Bankruptcy Court who can direct you to a variety of legal resources who may be able to offer assistance. Good luck, Bill McLeod
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