Hi,
We are in the middle of our C7 and it looks like we are going to be converted to 13. We are reworking the numbers on the means test but I think we will be over, but I do not know the NDI as of yet.
My question is this: We have a second home that we could not sell so we are surrendering it. It has a first mortgage and a lien placed on it by my father (who sued us, which is how this whole BK thing got started). If we go 13 how does it work with the lien on that house? Does the bank, the trustee, and my father get that money? Then do we pay the remaining creditors with the payment plan that is set up for us by the trustee?
Do they take all of your NDI?
What determines 3 year or 5 year payment plan?
Do they take a percentage of bonuses and tax refunds or all of them? What if I need a washer and dryer down the road or something of that nature?
Sorry if these questions are stupid but I have been spending all my time on the C7 board that I never bothered to research 13. Stupid me! I am so nervous about going to a 13. I feel like it could ruin our lives.
We are in the middle of our C7 and it looks like we are going to be converted to 13. We are reworking the numbers on the means test but I think we will be over, but I do not know the NDI as of yet.
My question is this: We have a second home that we could not sell so we are surrendering it. It has a first mortgage and a lien placed on it by my father (who sued us, which is how this whole BK thing got started). If we go 13 how does it work with the lien on that house? Does the bank, the trustee, and my father get that money? Then do we pay the remaining creditors with the payment plan that is set up for us by the trustee?
Do they take all of your NDI?
What determines 3 year or 5 year payment plan?
Do they take a percentage of bonuses and tax refunds or all of them? What if I need a washer and dryer down the road or something of that nature?
Sorry if these questions are stupid but I have been spending all my time on the C7 board that I never bothered to research 13. Stupid me! I am so nervous about going to a 13. I feel like it could ruin our lives.
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