Our income is way below the median for our state. We are trying to keep our house after filing Ch 7, which is in foreclosure. We are hoping to file in a few weeks. Would we be allowed to bring our house current after filing, by using money our parents would give us? If we do this before filing, we may have too much equity. Right now, we probably don't have any equity because of interest due to 8 mos of no payments, plus lawyer fees (and our exemption). We can't wait until discharge because the house is due to be sold probably in Sept.
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It's not illegal to receive gifts. I doubt 8 months of back payments will add enough equity to cause a problem before you file. Just ask your parents to make a check payable to the mortgage company and don't let it hit your account. -
Unfortunately you can't file Ch 7 and keep your house unless the mortgage payments are current on the day you file. Only Ch 13 will allow you to catch up on deliquent payments. If you are well below the median income for your state, then it's very unlikely you have enough disposable income to pay into a Ch 13.Originally posted by katrina03 View Post
With Katrina in your forum name, are you in Louisiana or one of the other Gulf states? Have you met with a few bankruptcy lawyers in your area who are familiar with the special considerations given to residents in the Gulf area impacted by Hurricane Katrina? You really need expert legal advise to know what your best options are in this situation. Most bankruptcy lawyers provide free consultations - we encourage you to take advantage of these visits even if you are planning to file on your own (are you?).I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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No, we're not filing on our own. We consulted one attorney, and have an appointment with another on Friday. We want to do a Ch 13 but were worried we didn't have enough income to pay the plan, so I'm trying to think of ways we could file Ch 7 and keep our home.
And Katrina is just a favorite name!Comment
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