My wife and I filed chapter 13 7 months ago. We are making the payments to the Trustee and the mortage and 2 cars outside the plan. Things are very tight as we guessed they would be. We have three children and would like to continue living in the same community as this is very important to us and the well being of our kids. Could someone please give input on the following.
1. Is it possible to sell your house and work with your bank to downsize to a smaller more affordable loan. Our are all proceeds taken and paid to the creditors?
2. If creditors get all proceed from sale, are there brokers that do trades for people in BK 13?
3. If house is sold and trustee takes all proceeds, and proceeds are enough to cover secured and unsecured are they paid out to creditors? If so am I released from BK 13 early.
Any insight would be greatly appreciated.
Regards,
d
1. Is it possible to sell your house and work with your bank to downsize to a smaller more affordable loan. Our are all proceeds taken and paid to the creditors?
2. If creditors get all proceed from sale, are there brokers that do trades for people in BK 13?
3. If house is sold and trustee takes all proceeds, and proceeds are enough to cover secured and unsecured are they paid out to creditors? If so am I released from BK 13 early.
Any insight would be greatly appreciated.
Regards,
d