I have a question regarding dismissal of a 13. My Chap. 13 has not been confirmed yet, however, my home is under the plan and I have made all the payments accordingly. I have received a cash offer from an individual to buy my home. Is it possible for me to ask my lawyer to request the dismissal of my 13 and then sell my home before the mortgage company forecloses on it? The reason why I want to dismiss first and then sell my home is that if I sell my home while I am in the plan, I am pretty sure that I would have to pay off the plan, which in turn will result in eating much of my equity. In addition to paying off some of my debt, I was also going to use that equity to pay off loans from family members. What should I do?
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Yes, you can voluntarily dismiss your Chapter 13 at anytime before confirmation, but you need to speak with your attorney about the reprecussions. -
Dismissing Chapter 13
I'm wondering if anyone has voluntarily dismissed their 13 plan..and what happened with creditors afterwards.Comment
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If you dismiss a 13, you still owe your creditors money, they will reage your accounts and take on any interest that is owed and if you don't pay, you can expect them to use all methods available to collect the money.Comment
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Dismiss 13
I know that is what can happen..just wondering if there was anyone that had actually done it..and how bad it was. Also..if you have obtained credit card and purchased car while in 13..without getting auth from trustee...how likely is the trustee to find out and what will happen? Invol dismissal I presume? Then..having to settle directly with creditors?Comment
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