Husband and I both plan on going for Chapter 7.
Total household income is $96,000/yr
Total ccard debt is appx. $35,000 (appx. $940.00 month)
House mortgage balance is appx. $89,000
Last appraisal when we got home equity loan was $140,000 although the tax assessor's office has a total appraised value at $108,000.
We currently have an home equity loan balance of $17,000
My attorney stated that we stop making payments but we haven't technically hired her yet (she was on vacation because of the 4th of July). My husband says we keep paying until she actually files.
My questions...
1. Do we have the option to keep our house?
2. Did you all take the online course through a debt management program?
3. What does it exactly mean when you file and how long after the paperwork was filed did you completely stop making payments to the creditors. Some of our creditors are already enrolled in a debt management program and have been for at least a year.
Total household income is $96,000/yr
Total ccard debt is appx. $35,000 (appx. $940.00 month)
House mortgage balance is appx. $89,000
Last appraisal when we got home equity loan was $140,000 although the tax assessor's office has a total appraised value at $108,000.
We currently have an home equity loan balance of $17,000
My attorney stated that we stop making payments but we haven't technically hired her yet (she was on vacation because of the 4th of July). My husband says we keep paying until she actually files.
My questions...
1. Do we have the option to keep our house?
2. Did you all take the online course through a debt management program?
3. What does it exactly mean when you file and how long after the paperwork was filed did you completely stop making payments to the creditors. Some of our creditors are already enrolled in a debt management program and have been for at least a year.
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