Honestly, I wouldn't do that. I would try to get another loan mod, or reduction in arrears, and get on a repayment plan. He needs a home to live in, not a three year eviction.now claim that the debt is UNSECURED and make them PROOF OF CLAIM (POC) which they probably will not be able to do without some fraud.
Whoever is servicing this mortgage (the people who mail you the monthly statement) - should be informed on Monday, that you have filed for Bankruptcy Protection. I would call them, and I would also ask them to send you a "RMA" Packet, which is formally called "Request for Mortgage Assistance". You need to fill out a form and try and see if they will come up with a modification, or plan - that may be more beneficial -- than the 5 year repayment.Now, what is next?
Just so you know, it is possible to convert a chapter 13 into a chapter 7. (and vice versa) The good part about 13 is legal charges go into plan payments. Don't sweat if you think one over other is an error or better move. It's done! Also...Quick comment on the room mate at 600/mo. When using this as income for a potential modification negotiation (if that's where you go) realize that you will not have 100% occupancy. Most rentals incorporate 1-2 mo per year vacancy into any future income projection. Meanwhile, you have breathing room to look for better job opportunities, just get some history in the field before you consider it stable income. Ordinarily most banks want 2 years same industry/pay to qualify for better loan terms.I got a lot of paperwork to go through that they gave me yesterday. But I want to thank you all for all your help. It makes what I'm going through a little more easier.
Call and ask the bankruptcy court for clarification. Clerks can answer q's on process that are not legal in nature. Also, I would think the Petition Date is the date you filed the BK petition. Bankruptcy rules are same in all States, there are downloadable forms and usually these, if not filed with petition, are x days to be filed. Likely your notice. If you have an attorney, they can answer as well.I received something in the mail yesterday regarding The Bankruptcy Court. It says that I have to have documents filed within 5 days of The Petition Date. It also says that I have documents have to be filed within 14 days of The Petition Date. What I like to know is when is The Petition Date is? I don't think it says on the form about when The Petition Date is. Can you please help me?
Yes. Are you having trouble with any forms? I found an easy way to include everyone on the debtors list is using your credit report. Utilities sometimes listed too. I am not sure about reaffirming your loan. Everyone has an opinion. Most attorneys recommend against it because the purpose is to not be personally liable. This does not mean you can stop paying and it goes away. In a Chpt 13, some have had success in reducing 2nd if there is negative equity. (You are asked to identify amount owed and value in your real estate schedule.) Some people keep paying during BK. Try to get that room mate once you have a paperwork break.I don't have an attorney. My father has been helping me. So, I should call The Bankruptcy Court on Monday?
I think you should go on friday no matter what. Is there anyway you can get a legal-aid attorney?Now is true that I don't have to go to Bankruptcy Court on Friday? It will be discharged and I could apply again? Is that true? If I don't go does that mean I'll have to leave my house quicker which is what I don't want?