Thinking of filing Chapter 13 to forestall foreclosure: Just got discharge on Chp.7!

[calidebtor]

I wanted you to think about financially and in your longer term view, what's the better situation. Sure, you could actually drag out the process, make frivolous motions -- or perhaps not so frivolous if you have promissory note issues -- and delay the process. At what CO$T is that though?
Realistically, you won't be able to strip the second mortgage in a Chapter 13 that doesn't have a discharge. This is because you're employing the Chapter 20 process (Chapter 7 followed by Chapter 13). There are a few Districts that may support such, but many of them are now consistent that you actually need the discharge in order to strip the lien (actually the "unsecured" portion).
The decision if ultimately yours, but as I believe I stated in several posts, why even worry about a short sale and why haven't you made the transition to just start to build a new life?
I guess I'm trying to say two things. First, that you could delay the process, but you'd have another bankruptcy on your credit report. Second, why? It makes no financial sense to me or you have not convinced me yet that the short sale and a questionably bad-faith Chapter 13 is the way to go. I would never file Chapter 13 just so that I could complete a short sale.

OK, so lets break it down to the basics:
1. What is the negative of having 2 BKs on my credit than 1? Especially if my first one is going to be on the credit for 10 years and this second one will expire a few years before the first.

2. Lets walk through the process of filing the 13, and at what stage(and number days after filing) you guess it would get dismissed, considering that I am only planning on paying the initial filing fees, and nothing else.

3. Whats the benefit of moving on with my life and starting fresh now vs. moving in end of May next year? Give me the pros and cons that you see for both.

[justbroke]

1. What is the negative of having 2 BKs on my credit than 1? Especially if my first one is going to be on the credit for 10 years and this second one will expire a few years before the first.

Bad faith and potentially, if you file a fraudulent claim, criminal prosecution. I don't think the latter is going to happen at all and you're not suggesting it. It's just a waste of time to file a Chapter 13 solely to hinder and delay a creditor from foreclosing, just because you want to do a short sale. There is no upside for you. And trust me... any credit that you established in the interim is GONE. All those new accounts will now be wiped out again with Bankruptcy Notations. This may mean nothing to you, but having to pay deposits again, on things, and having all your credit wiped again, is not something that I personally want to go through again.

2. Lets walk through the process of filing the 13, and at what stage(and number days after filing) you guess it would get dismissed, considering that I am only planning on paying the initial filing fees, and nothing else.

It doesn't matter when the case gets dismissed. I'm pretty confident that in 99% of cases, the lender will QUICKLY file a Motion for Relief from Stay. The dismissal is irrelevant in this context.

3. Whats the benefit of moving on with my life and starting fresh now vs. moving in end of May next year? Give me the pros and cons that you see for both.

I already have. I'm not trying to convince you of one over the other. I'm asking you to look at what you're doing. You should prepare such a comparison, but you need to weigh not only this "delay" tactic, but weigh not knowing what's going to happen and potentially getting marked as a bad faith filer.