Chapter 7 or 13 ... [Archive]

newlife2007

02-06-2008, 09:51 AM

Hi Guys -

I am about ready to pull the trigger on our bk.

I have an issue, do to an injury and the loss of that income ( I am self employed ), we have fallen late ( 2 months ) on our mortgage.
We are in Massachusetts and pass the means test with flying colors ( about 10K below median ).
We are back on our feet and plan to keep the house ... Do we do a Ch 13 or borrow $$ to get current on the mortgage and still do a chapter 7 ?

If we did a Chapter 13 to spread out the late mortgage payments ... How would they calculate our payments if we are very negative every month ??

Thanks !!



	Bankruptcy Forum > Before the Discharge > Chapter 13 > Chapter 7 or 13 ... PDA Chapter 7 or 13 ... newlife2007 02-06-2008, 09:51 AM Hi Guys - I am about ready to pull the trigger on our bk. I have an issue, do to an injury and the loss of that income ( I am self employed ), we have fallen late ( 2 months ) on our mortgage. We are in Massachusetts and pass the means test with flying colors ( about 10K below median ). We are back on our feet and plan to keep the house ... Do we do a Ch 13 or borrow $$ to get current on the mortgage and still do a chapter 7 ? If we did a Chapter 13 to spread out the late mortgage payments ... How would they calculate our payments if we are very negative every month ?? Thanks !!