Hi,
I have a promissory note with a value of $260K, receiving monthly payments of $12.5K. Can I file chapter 13 and keep the promissory note? I am currently out of work, and my business is dead. My unsecured debt is about $250K, and 2nd and 3rd loans on an investment property of $168K.
Currently I am using the payments of the promissory note to pay living expenses, but I can afford to pay some of the debt since I have about $2,500 left over each month.
What's my best solution?
I have a promissory note with a value of $260K, receiving monthly payments of $12.5K. Can I file chapter 13 and keep the promissory note? I am currently out of work, and my business is dead. My unsecured debt is about $250K, and 2nd and 3rd loans on an investment property of $168K.
Currently I am using the payments of the promissory note to pay living expenses, but I can afford to pay some of the debt since I have about $2,500 left over each month.
What's my best solution?