Hello, need some help 
We have been in financial trouble since 2005. Actually tried to file a 7 in 2005 and we were forced to a 13. my income was just over 110k and the wife about 35k. They wanted us to pay back over 900 per month. We didn't agree and had the bk dismissed. What i thought would happened did. Lost the job and the income. The wife had about 100k in unsecured debt, Me with 20k.
Since then employment finally got better for me but no where near the income I used to earn. We defaulted on all the unsecured debt. My wife is almost done paying off a judgment for a boat through wage garnishment. I just got his with a credit card judgement for 2k. Paying 200 a month or they will do an income execution. One more judgement for 12k just got served. No one else has come after us.
In 2001 we opened a heloc for 95k. We defaulted in 2007. In 2009 it was charged off. No one has attempted to collect or foreclose. There has been no correspondence since 2009 and no payments made. We still had a 95k balance at default.
Our 1st is in arrears a few months. They paid our taxes for the last 2 years so we are into them for almost 20k. They are willing to work with us just haven't submitted a mod application yet.
We want to stay in our home. Sounds like a Ch 13 can help?
Here are the questions.....
1. After a budget, what if there is only $300 left? Could we include the 2nd in the plan for $300 over 60 months and get discharged and get a lien release?
2. We managed to pay off our vehicles over the last few years. We ended up keeping a convertible. We never sold it so we kept it and paid it off 3 yrs ago. Not worth a lot maybe 3k and needs a lot of TLC. Was planning on giving it to my son. Is this an issue?
Any help is appreciated!
Thanks
We have been in financial trouble since 2005. Actually tried to file a 7 in 2005 and we were forced to a 13. my income was just over 110k and the wife about 35k. They wanted us to pay back over 900 per month. We didn't agree and had the bk dismissed. What i thought would happened did. Lost the job and the income. The wife had about 100k in unsecured debt, Me with 20k.
Since then employment finally got better for me but no where near the income I used to earn. We defaulted on all the unsecured debt. My wife is almost done paying off a judgment for a boat through wage garnishment. I just got his with a credit card judgement for 2k. Paying 200 a month or they will do an income execution. One more judgement for 12k just got served. No one else has come after us.
In 2001 we opened a heloc for 95k. We defaulted in 2007. In 2009 it was charged off. No one has attempted to collect or foreclose. There has been no correspondence since 2009 and no payments made. We still had a 95k balance at default.
Our 1st is in arrears a few months. They paid our taxes for the last 2 years so we are into them for almost 20k. They are willing to work with us just haven't submitted a mod application yet.
We want to stay in our home. Sounds like a Ch 13 can help?
Here are the questions.....
1. After a budget, what if there is only $300 left? Could we include the 2nd in the plan for $300 over 60 months and get discharged and get a lien release?
2. We managed to pay off our vehicles over the last few years. We ended up keeping a convertible. We never sold it so we kept it and paid it off 3 yrs ago. Not worth a lot maybe 3k and needs a lot of TLC. Was planning on giving it to my son. Is this an issue?
Any help is appreciated!
Thanks
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