Selling home AFTER filing Ch7

[tallberry]

I'll try to make a long story short..

History: Husband job transfer from IN to FL, put home for sale in IN since last year, rented home here in FL, went thru all of money to pay for both homes, finally made decision to file Ch 7 (havent done it yet but will be soon).

My question is...our house is still on the market in IN. Can we still attempt to sell it after filing BK? What if we get a buyer but they offer us less than we owe...can we go back to bank and say, "take it or leave it"? And if you don't take it then you will probably get nothing in the BK? Along these same lines, has anyone ever negotiated with CC's to take like .10 on the dollar versus going through with BK? I know this sounds like I am kicking a dead horse but I was just curious.

Anyone with experience in this area...please share!

[keepmine]

Do you have any equity in the home in In.

[tallberry]

No, we owe $427,000 (first and second) total and is probably worth around $400,000 in todays market.

[keepmine]

No, we owe $427,000 (first and second) total and is probably worth around $400,000 in todays market.

Why worry about it? Throw it into the bk and let the bank deal with it.
As to cc settlements. When I was at about 150 days into default, Cap 1 made an offer for a 50% settlement and Chase offered 45%. Just be aware that on a settlement, you'll get a 1099C and may have some tax liability.

[tallberry]

You are 100% right, keepmine, I was just curious. The only thing I can say is that cc's and banks do not do a thing to make you want to work out something with them. I honestly do not want another credit card, EVER. We haven't used ours since Dec 1 and I haven't missed them at all. Paying cash really makes you evaluate how bad you want something! Sorry for that tangent there for a moment...but I feel like this whole situation has really changed my way of thinking and spending.