Don't know where to start...a lot of questions so please bare with me

[Buffy2018]

Went to my consultation Friday, I wanted to file by myself and try to pay off husband's CCs. But because of the state we live in we can't do that. So we will file together. Here is a brief of our situation.
1. We have 125,000 in CC debt, I have not paid on my in 3 months, husband's is up to date but will not pay on them since we are filing.
2. We have two mortgages one is our house and the other is a rental. Payments have never been late. And owe a rundown house that is not worth hardly anything.
3. 2 motorcycles and 1 car payment all have never been late.

Husband is so worried they will take our homes or a vehicles. In our consult she said we should be ok and they would be protect.

I don't know I am just so worried.

[karna68]

They might take your rental and the rundown house. As for the motorcycles I will say that my husband couldn't keep his, we had 2 other cars though.

[Tinker]

Hi Buffy,

I agree with Karma68. Keeping your home and cars for you both should be no issue. Extra homes,though, and recreational vehicles may likely have to go.

[LadyInTheRed]

If you file a Chap 13, the trustee will not take your property. That's not how a Chap 13 works. However, if the rental operates at a loss, the calculation of your plan payment will probably not be able to take that loss into account. If you have non-exempt equity in any of the assets, that would result in a minimum plan payment in order to pay the unsecured creditors at least the value of the non exempt equity in assets over the life of your plan.