what to do with vehicles and second mortgage

[danohio2831]

i have 2 vehicles with payments of 730 a month. my ssister inlaw just gave us a car and we want to get rid of one.

if i file chapter 13 and let the car get reposessed add in the Deficiency of the car. or what else can i do?

also i have a second mortgage of 56,000. and my house is 210,000. the house apprases at 200,000. it was worth more when we took out the second mortgage, and did a 125% loan. has anyone ever tried to add the second mortgage into a chapter 13 case cause the value of the home is taken up by the first mortgage.

third
i have 125,000 in credit card debt. i have sold alot to keep up the payments.
if i were to try to file chapter 13, and i could only pay 170.oo a month, how would this work? 170x12x5 years = 10,200. how would they ever let that fly. only paying 10,200 on a 125,000 debt.

fyi
i have a bipolar disorder and just keep spending to try to be happy. seemed like it was the only way to keep me happy. i would like you to know this, and i am not out to abuse the system, i have been in counceling and medication for 6-7 years. for anyone who cares, i just want u to know why i am in debt so much

[aa06a47]

I think your second mortage will either have to be paid, or you will lose your house. It is a secured loan.

Even though your payback amount is small, it is way more than they would get in a straight chapter 7 bk. Nothing the creditors can really do except object, and if all your ducks are in a row, they will be wasteing time and money by doing so.

Glad your getting help for your bi-polar. If your still under medical care, why do you still feel the need to spend to make yourself happy? You might try a different doctor.

[danohio2831]

Gad your getting help for your bi-polar. If your still under medical care, why do you still feel the need to spend to make yourself happy? You might try a different doctor.[/QUOTE]



i am under a new doctor for 3 months now. i was under a doctor for 4 years and i only stayed with him because he did not give me greif over using fmla. i missed like 80 days a year under fmla. i knew he was not doing a good job, but i need to keep my job. right when i knew i was getting laid off, i switched doctors. it is sad, about 10% of the time, i can think clear, but the other 90 % kill me. my wife supports me 100% (thank god). she does not want me to go back to working full time, just part time to see if i can get a grip on life.

thanks for your help, and ask anything
dan