Question I need feedback please! should I let my bk dismiss?

[busbis]

My husband and I are seperated. We still don't have the nerve to actually file the divorce just yet, but he is wanting to get a place of his own. He is currently living with parents (at 37).

We were going to payoff early the chp 13 plan at 100% but because the property surrendered hasn't been foreclosed just yet, the trustee will not allow. So instead of paying $1700 per month, would it be smart to have our bk dismissed, let the property foreclose then file chp 7 seperate of my husband. My question is, can we both file seperately living, he uses his new household income, I use mine. If we do that we would both qualify for the chp 7.

[AngelinaCat]

My husband and I are seperated. We still don't have the nerve to actually file the divorce just yet, but he is wanting to get a place of his own. He is currently living with parents (at 37).

We were going to payoff early the chp 13 plan at 100% but because the property surrendered hasn't been foreclosed just yet, the trustee will not allow. So instead of paying $1700 per month, would it be smart to have our bk dismissed, let the property foreclose then file chp 7 seperate of my husband. My question is, can we both file seperately living, he uses his new household income, I use mine. If we do that we would both qualify for the chp 7.

Dear Ms Busbis: You have my profound sympathy. While I have no direct experience with your type of situation, I am sure there are others here that can make suggestions and help ease your concerns. On the face of it, your idea seems like a smart one to me.......

All my Best, and please keep us posted.

[JRScott]

I assume since you are mentioning a payback early that you file prior to 2005 when the laws changed.

How far into this bankruptcy are you both?

How long before foreclosure might happen on the property?

1700 per month is your Chapter 13 payment? That's a significant amount of disposable income if it is. Are you certain you qualify for a Chapter 7 if you both divorced?

You seem to be thinking of him as much as yourself in this decision. What led to the separation? Is there the possibility of reconciliation?

Have you considered a short sell of the property, or is that possible in a Chapter 13?

[Flamingo]

There are a lot of things here that need to be listed that are not in your posting. My main recommendation to you to ensure you get the correct information you need is to sit down and talk with the attorney handling your Chapter 13. Divorce/separation incorporated with a bankruptcy filing just makes things extremely complicated and you want to ensure you work closely with any attorney's involved in either one during the process. Dismissing a Chapter 13 is never a good thing and there is no saying that if that does occur, that either of you will be able to file for a Chapter 7 thereafter.