Chapter 13 questions

[patm95]

Hi all,

I had a couple of questions to ask about Chapter 13 bankruptcy. Back story: my wife filed for chapt 13 a couple of years ago before we were married. Two things that were not covered on the bankruptcy were her house and an old home equity loan. Now we are married and I make considerably more than my wife. I would be interested in paying off her house and home equity loan in an accelerated fashion. Can I do this without affecting her bankruptcy status? Also, now that we are married, should we file separate tax returns? If we file jointly, will the trustee try to get more money out of us since I make more?

Thanks.

[forgotten]

Since she filed before you got married your income should not make a difference. If you tried to modify the plan in some way they may want to take your contribution to the household expenses in to consideration, but the trustee should not ask for a modification simply because you are now married. I would not file seperate tax returns unless you have some other reason for wanting to do so. This is my opinion, someone with actual experience in this area may be able to provide more info.

I do not suggest paying off the house and equity loan prior to the bankruptcy being over however. If these secured debts are paid off there would be cause to raise her plan payment.

[LadyInTheRed]

I agree that you should wait until after she is out of BK to pay off the mortgage.

If she hasn't already, she should tell her attorney she got married. It is possible the trustee has to be informed. Anybody who ever has any change in financial circumstances during a Chap 13 should let their attorney know.

[patm95]

THanks for the advice. I will save my money and wait until she is out of the chapt 13 before making any payments on the house.