Would this repayment plan pass muster?

[ColoradoBell]

If I filed a 13, and had all my judgment liens avoided, would my minimum payment be based on the sum of any arrearages in mortgage/property taxes and any nonexempt property?

If I took over the small mortgage on a house I owe 60% of (it is current) and the the 40% owner agreed to sell his share to my sister for fair market value,
would a 'plan' pass muster if my income could afford the payments plus the trustee fee?

[ColoradoBell]

bumping my question w/ perhaps more explanation so as to get some answers if possible.

I qualify for a 7 which would, I suspect, get rid of my judgment liens and unsecured debt if the trustee accept the current contract on the house as its market value.
Alternatively, the trustee may decide to take tthe house and try to sell it.

But assuming the house's debt is cheaper than renting, so I'd rather do this. Unfortunately it involves buying out X's share, tho I have a willing buyer to do that.

If I file a plan in a 13 which explains all that and shows I can afford it (if I rent out the apt in the house for added income and give up my investment property), would this fly with the trustee and be more likely to raise less APs than no asset 7.?

[newbie2]

bumping my question w/ perhaps more explanation so as to get some answers if possible.

I qualify for a 7 which would, I suspect, get rid of my judgment liens and unsecured debt if the trustee accept the current contract on the house as its market value.
Alternatively, the trustee may decide to take tthe house and try to sell it.

But assuming the house's debt is cheaper than renting, so I'd rather do this. Unfortunately it involves buying out X's share, tho I have a willing buyer to do that.

If I file a plan in a 13 which explains all that and shows I can afford it (if I rent out the apt in the house for added income and give up my investment property), would this fly with the trustee and be more likely to raise less APs than no asset 7.?

You have so many variables in regards to what you want to do, that it is hard for us to ascertain what will fly and what won't. It's such an unusual set of circumstances.

Even though you do have unusual circumstances I would think your payment would still be based upon normal procedures: Disposable income and/or the amount of money an unsecured creditor would receive if your non-exempt assets were liquidated.

Aren't you seeing your attorney today?

[ColoradoBell]

Hi Newbie,
Saw my attorney on Friday and she is coming up with different strategies today....I'm just trying to think things through myself so I can quickly evaluate. It's true that my circumstances are very different and I realize that makes it difficult, if not impossible.

There is so much talk on here re plans not being accepted, I was trying to figure out what it was about them that made them unacceptable. My attorney did say I had to show enough disposable income; but I"m wondering how much? If I have a no asset 7, then the amount necessary to unsecureds is very little. But it would have to be enough that they wouldn't rather I do a 7.
So many variables and so little time.....its down to the wire and I'm scared silly.

[HHM]

I agree with Newbie, those are tough questions to answer in this forum.

As I recall, your Ex is trying to sell the house. However, if there are arrears etc., and the goal was trying to keep the house, or at least buy time, then to get the the plan confirmed, you would need to account for any arrears related to the mortgages, prop. taxes etc. Otherwise, your chapter 13 plan payment would be based off of disposable income only.

As for avoiding judgment liens, that all comes down to the value of the home and when the liens were placed. If there is no equity securing those liens, they are gone.

[researchnerd]

Tough questions indeed...it sounds quite complicated. If it were me, though, I'd do a Ch7 if at all possible.

[ColoradoBell]

I just heard from my attorney that they aren't going to file.
The only reason: that she is afraid that she doesn't have the experience in this area.
It must be something else, but I swear i can't figure out what it is.
I don't think I can go on.[/I]

[newbie2]

I just heard from my attorney that they aren't going to file.
The only reason: that she is afraid that she doesn't have the experience in this area.
It must be something else, but I swear i can't figure out what it is.
I don't think I can go on.[/I]

I'm sorry to hear that this attorney won't take the case. I do hope you find another one though. Perhaps this attorney would know of someone who does have the expertise to handle it?

[ColoradoBell]

you've all been so very patient and kind.

I've learned a lot and appreciate everything.

I'm having one of my a-fib attacks and think I need to go to sleep for a few hours.

thank you for putting up with my problems, but I think I've done all that I can and its time to just give up