My chapter 7 is ready to discharge shortly, I am considering chapter 13 to help save the house but I listed the property in my 7. Can I still file a 13, list the secured creditor and attempt to negotiate the debt and will I still qualify for a stay in the mean time?
You can file a chapter 13 after your chapter 7 has been completed. you will not be eligible for a discharge but the arrears can be paid over time through the chapter 13. There are potential issues that could arise such as whether your actions were in good faith. I suggest you consult with experienced bankruptcy attorney.
YES! It's very common and can be a huge benefit to you if handled correctly.
This answer is offered as a public service for general information only and may not be relied upon as legal advice. No attorney-client relationship is created or is intended to be created hereby.
An unofficial term for a Chapter 7 Followed by a Chapter 13 is called a Chapter 20. The Chapter 7 eliminates unsecured debts while the Chapter 13 handles continuing liens. This is a common practice to help people in foreclosure. Please consult an attorney on this. There's a lot more to it then this.
Yes, you are able to file a Chapter 13 at this time. You would not receive another discharge but you would be entitle to stop any foreclosure action and get time to either pay back the arrears or possibly even get a loan modification. Of course, if a sheriff sale has already taken place, it is too late to save your home.
Yes you can, once your chapter 7 discharge is issued. You need to show what changed such that you can now afford the mortgage and payments to cure arrears. There are other issues and concerns to address. An experienced and qualified attorney can answer these questions for you.
The foregoing answer is for informational and educational purposes, not for purposes of legal representation. This answer is based on New Jersey law and is necessarily general in nature.. Laws in other states may be different, and each situation is different, so this answer might not apply accurately to you. No attorney client relationship is to be implied from this answer. Always seek independent legal advice.
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