First off I should state that I am not the one who has filed for bk, my ex-husband did. He calls me crazy and obsessed, and I am okay with that label
Long story shorter..but not short (sorry in advance).
Ex owes me currently $21k in support arrears, so I have a vested interest in his bk filing.
Ex and current wife filed for chapt 13 bk in eastern missouri.
Ex is not listing everything in his bk (like the fact he is behind in support to 2 ex-wives and behind in alimony to one of them - not me). There are actually quite a few things he either didn't list (assets and debts) or listing incorrectly.
His 341 meeting was 4/19/2010 and I was there representing myself as a creditor. I got my questions answered and I am content. To be quite honest, I hope he is able to have a revised plan confirmed and get on with his life...oh yeah and finally help pay for the rearing of our child.
Ex has a home that is worth $70k for building and land. However, the current amount due between first and second mortgages is $300k. He is currently $16,500 behind in payments between the two as well.
Home has gone into foreclosure twice, that last one was a day before auction that he filed bk. Those two occurances have lead to his mort balance to be increased for fees, attorney bills, etc. However original loan amount was for 240,000. The house in 2006 when purchased was appraised at 90k, I don't know how he got the loan for the amount he did, but doesn't really matter.
At any rate, ex submitted first plan (which is being objected by trustee)
Here is what he originally submitted:
total income: 4075.32 (after taxes and such)
1st mort: 1203.00
2nd: 502.78
1st arrears: 197.92 (per month for 48 months at 0% interest)
2nd arrears: 146.88 (per month for 48 months at 0% interest)
Truck pay: 138.80 (per month for 60 months at 6.34%)
child support:1000.00 (not the correct amount, just what he is stating)
mnthly exps: 1004.00 (as listed in his financials to live)
-----------------------------------------------------------
end of month: -118.06
Ex has support obligations to me at 325 a month, to his other ex at $600 a month and $300 a month for alimony to her as well. That is a total of $1225, which he didn't list any in his schedule E. I don't know if he is current on his support to the other wife, I don't think so but she hasn't filed a claim.
At any rate, if you include the true amount of support and arrears, over a 60 month plan he would be -817.36 in the hole if he still wanted to keep his house and truck.
Alright...now the question!
At the 341 meeting, the trustee was very interested in the difference between the mortgage balance on the home and the value of the home. He is insistant on keeping it, and to be quite honest, it's the home that has gotten him in this mess to start with. he simply can't afford it, but again I am the ex wife, so what do I know.
Can the trustee or the courts make him sell his house?
Or maybe the better question should be, if you can't afford the payment plan you have put in place, what do the courts and trustees expect? Has anyone been down this road and understand how it works?
Long story shorter..but not short (sorry in advance).
Ex owes me currently $21k in support arrears, so I have a vested interest in his bk filing.
Ex and current wife filed for chapt 13 bk in eastern missouri.
Ex is not listing everything in his bk (like the fact he is behind in support to 2 ex-wives and behind in alimony to one of them - not me). There are actually quite a few things he either didn't list (assets and debts) or listing incorrectly.
His 341 meeting was 4/19/2010 and I was there representing myself as a creditor. I got my questions answered and I am content. To be quite honest, I hope he is able to have a revised plan confirmed and get on with his life...oh yeah and finally help pay for the rearing of our child.
Ex has a home that is worth $70k for building and land. However, the current amount due between first and second mortgages is $300k. He is currently $16,500 behind in payments between the two as well.
Home has gone into foreclosure twice, that last one was a day before auction that he filed bk. Those two occurances have lead to his mort balance to be increased for fees, attorney bills, etc. However original loan amount was for 240,000. The house in 2006 when purchased was appraised at 90k, I don't know how he got the loan for the amount he did, but doesn't really matter.
At any rate, ex submitted first plan (which is being objected by trustee)
Here is what he originally submitted:
total income: 4075.32 (after taxes and such)
1st mort: 1203.00
2nd: 502.78
1st arrears: 197.92 (per month for 48 months at 0% interest)
2nd arrears: 146.88 (per month for 48 months at 0% interest)
Truck pay: 138.80 (per month for 60 months at 6.34%)
child support:1000.00 (not the correct amount, just what he is stating)
mnthly exps: 1004.00 (as listed in his financials to live)
-----------------------------------------------------------
end of month: -118.06
Ex has support obligations to me at 325 a month, to his other ex at $600 a month and $300 a month for alimony to her as well. That is a total of $1225, which he didn't list any in his schedule E. I don't know if he is current on his support to the other wife, I don't think so but she hasn't filed a claim.
At any rate, if you include the true amount of support and arrears, over a 60 month plan he would be -817.36 in the hole if he still wanted to keep his house and truck.
Alright...now the question!
At the 341 meeting, the trustee was very interested in the difference between the mortgage balance on the home and the value of the home. He is insistant on keeping it, and to be quite honest, it's the home that has gotten him in this mess to start with. he simply can't afford it, but again I am the ex wife, so what do I know.
Can the trustee or the courts make him sell his house?
Or maybe the better question should be, if you can't afford the payment plan you have put in place, what do the courts and trustees expect? Has anyone been down this road and understand how it works?
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