It is always something....

[julsmom]

Almost 2 years in to our CH13 with 2nd mor lien strip & DH is losing his job at end of month! He was hired as consultant so NO unemployment. With the 13 and things happening we have no savings so we are in effect, just toast. We have a mtg with the lawyer to see what our options are; trying to get my thoughts & questions together.

Looking to either have trustee not take the next few auto payments out of my check with the loss of hubby's income to give him time to try to get a new job.

Or is it possible to lower the monthly due to his loss of income? And can I now move out of the 5 year payback plan to a 3 year since we would now be under the median income.

We are also keeping options open of asking for hardship discharge or just converting to a 7 & walking away from the house.

Any thoughts?? Anyone have anything similar???

[tobee43]

i personally haven't gone through anything similar since i was always a no asset 7.

however, clearly you situation has changed and i'm certain they can either adjust your payments or you may be able to convert. with no job, or lack of income, it may be likely you will be able to convert since how can you set up a payment plan with no steady income??

i think you'll feel better after speaking with your atty and reviewing you actual options.

best of luck! i'm sure things will get better.