My wife and I have had our mind set on Chapter 7, but it looks like we will be a Chapter 13.
We have a home that we want to surrender because we are $200,000 upside down. We also have a heloc which is $70,000 i believe we would need to repay under chapter 13. Correct?
We have 2 leased cars that we want to give up. How is this done? Could we just surrender the 2 cars in a chapter 13.
We have $30,000 worth of credit card debt. which would be repayed over 5 years i guess.
Is surrendering the house possible?
Assuming we had $400 of disposible income left. Does that mean our total accrued debt, say for example 85,000 gets reduced to $400 for a 5 year period for payoff?
We have a home that we want to surrender because we are $200,000 upside down. We also have a heloc which is $70,000 i believe we would need to repay under chapter 13. Correct?
We have 2 leased cars that we want to give up. How is this done? Could we just surrender the 2 cars in a chapter 13.
We have $30,000 worth of credit card debt. which would be repayed over 5 years i guess.
Is surrendering the house possible?
Assuming we had $400 of disposible income left. Does that mean our total accrued debt, say for example 85,000 gets reduced to $400 for a 5 year period for payoff?
Comment