beginning of Chapter 13

[chigunk]

Filed for chapter 13 bankruptcy two months ago, couldn't go through with first month payments of mortgage (back mortgage) and trustee payment. Also, we have absolutely zero equity in the house, our credit is horrible, and I just lost my job. My husband is still working, and we have car payments we are current with. My unemployment is there, but finances, in a whole, are a mess. Since we haven't had creditors meeting yet, is it possible to inquire about selling house?

[MOMof3]

If you have zero equity in the house & you've lost income, I would talk to your lawyer and convert to a seven and give the house back. You should be able to keep the cars if you are current.

[chigunk]

MOMof3, thanks for responding.

If we converted to Chapter 7, what direction do we go to rent? Most landlords check credit. Also, what about all my original debts listed in the initial filing?

[AboutToBK13]

Filed for chapter 13 bankruptcy two months ago, couldn't go through with first month payments of mortgage (back mortgage) and trustee payment. Also, we have absolutely zero equity in the house, our credit is horrible, and I just lost my job. My husband is still working, and we have car payments we are current with. My unemployment is there, but finances, in a whole, are a mess. Since we haven't had creditors meeting yet, is it possible to inquire about selling house?

Missing a payment is grounds for dismissal. Talk to your lawayer ASAP concerning your options. One of the rules about being in a 13 is having the money to pay for it.

Good luck.

[MOMof3]

There have been a lot of posts about renting and bankruptcy. I would do a quick search on that. I am not an expert on chapter 7 conversion either, so I would do a search for that as well, or wait for other responses. Debts will be discharged in relatively the same fashion. I agree though that you need to act quickly since you've already missed a payment. If you get dismissed, you have a period of time that you have to wait before filing again. I would meet with your lawer asap!

[stljohn]

There are landlords who will work with you just be prepared to call a bunch of em. Stay away from real estate companies they're hard line, i focused on leasing agencies and a couple of landlords.

I'd tell them up front what's going some said no thanks but I ended up with 2 leasing companies and one individual to work with. You may need extra deposit.

[253BK]

Yeah check craigslist.com and try and find an owner that is leasing his own property that will be much easier for you! I work in the real estate field and when we do lease homes we are looking for 675 credit scores and no lates in the last 12 months!

Working with owners alot of them will take a chance! Just make sure you really try hard to take care of them in return! Good luck!