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    #1

    Nervous

    I have been lurking this forum for awhile and love all the information! Our bankruptcy was filed on Thursday and our 341 is scheduled for February 21st.

    I have this very nervous feeling which I'm assuming from reading other posts is normal. We filed a Chapter 7, no asset case. We are keeping our home and vehicle. My main worry is the bank that has our mortgage not agreeing to that. My attorney says there is absolutely no way the bank will want our house and there will be no problems at all. We are in PA. They just can't decide they want it back right?

    I'm also worried I missed something....like the trustee will find something we forgot. I just can't wait for it to be over!
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    #2
    WELCOME TO THE FORUM ANONYMOUS!

    The bank would much rather you continue to pay them. Foreclosure is costly for any lender and they can lose tens-of-thousands in some cases. If you continue to honor the mortgage note (loan), they just can't kick you out and say "we want the house back."

    I assume since you stated that you are no asset that there is little or no equity in your home and vehicle.

    We know the feeling of wondering whether or not we forgot something major when we filed, but rest assured, if you did in fact forget something, then it is no big deal to amend your petition. Your case will not get dismissed or denied discharge because you forgot something. It may only delay the progress a little. On the other hand, if the trustee finds that you hid assets from him/her, then that's a different story.

    Breathe easy and relax. This will be over before you know it.
    Bankruptcy History:
    Chapter 7 filed - 10/12/2005 - Asset
    Discharged - 02/16/2006
    Case Closed - 11/08/2007

    A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain

    All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.

    Comment

      #3
      We have no equity in our house. We have a mortgage and home equity loan. Our van is worth about $5000 and we owe around $7000.

      We received all our paperwork today and it's a lot of legal mumbo jumbo. I'm sure it looks more confusing than it really is.

      Thank you for the reassurance! It makes me feel a little better for the moment

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