Chapter 13- Help-So many questions

[sassyone]

We looking into filing Chapter 13, We did a 7 in 2004. Yesterday we met with an attorney and left more confused than ever. He seemed very hurried and his phone starting ringing, it seemed this was a sign he was finished with us. We have two major financial issues, not counting credit card debt.
1.Our home was Foreclosed on in Feb 2009. Now the 2nd lein holder is threatening to sue.2. Our employer is in Home Sales and our pay keeps dropping. We have to make some good choices, or the best we can. We have 4 children.
Question- Will this get the 2nd lein off our back?
And my husbands vehichle needs replaced, can we do this a month before filing? Or will we be in big trouble? I'm worried about credit approval after we file. We have credit approval now.
If we start a chapter 13 bankruptcy can we change it to a chapter 7 in 1 or 2 years if necessary? Because we did a chapter 7 in 2004 and understand I cannot have one discharged for 8 years. Can I file now for the protection, knowing it will not be discharged for another 16 months?
Do charged off credit cards and 2nd mortgages need to included in the payoff of a chapter 13?

So sorry for all the questions and please direct me to the correct place if I posted in the wrong place. BTW we live in TX.

[momofthree]

1. Yes, filing bk13 will get rid of the 2nd lien, it will be paid at the same rate as your other unsecured debt.

2. Yes, it is recommended to buy a new car prior to filing.

3. No, you cannot convert to a ch.7 in a year or 2. The 8-year rule goes from filing-date to filing-date. You can, however, dismiss your ch.13 and then re-file a ch.7 if you qualify (pass means testing). Keep in mind, this will mean you have 3 bankruptcies on your credit at one time.

4. All your debt (including charged-off accounts and 2nd mortgage) will be included in your bankruptcy filing. Your payment will be based off of your disposable monthly income, not your level of unsecured debt.

[sassyone]

1. Yes, filing bk13 will get rid of the 2nd lien, it will be paid at the same rate as your other unsecured debt.

2. Yes, it is recommended to buy a new car prior to filing.

3. No, you cannot convert to a ch.7 in a year or 2. The 8-year rule goes from filing-date to filing-date. You can, however, dismiss your ch.13 and then re-file a ch.7 if you qualify (pass means testing). Keep in mind, this will mean you have 3 bankruptcies on your credit at one time.

4. All your debt (including charged-off accounts and 2nd mortgage) will be included in your bankruptcy filing. Your payment will be based off of your disposable monthly income, not your level of unsecured debt.

Momofthree- thank you .
I have been reading everything , I'm exhausted. I have made an appointment to see a different attorney next week.
Guess I better buy they vehicle quickly.

Again thank you .