Filed Chap 13 last April, made our first payment in May..so we've been in to this now for 10 months. Our BK has still not been confirmed. Can we reverse our BK, and get the money back of what we've paid in so far (over $20,000) . We were trying to keep our house, but we owe too much on it, so have decided to walk away. We are hoping if we can walk from the whole BK thing, we will be able to call our creditors (specifically our cars) and make up the payments to them. We should have let the house go 10 months ago. We're told our Trustee is a real stickler...figures!
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Yes, you can dismiss your Case. Since the Plan has not been Confirmed the $$ will be returned to you less the following:
1. Adequate protection payments already paid to the vehicle lien holders.
2. Legal fees owed to your attorney if you have one and if the Plan and your retainer agreement provided for such.
3. The Trustee's fees and costs.
Dismissal will not remove the fact that you filed. Dismissal will allow creditors to resume collections and will most likely result in the vehicles being repossessed since payments are not current. No comment on whether or not you can work deals with your creditors.
Due to the vehicles you may be better off amending the Plan to surrender the home and remove funding for the arrears to the mortgage company. This will eliminate the inevitable loss of the vehicles.
Call you attorney tomorrow.
Des. -
thanks for the response Des.Comment
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