I have met with a few different BK attorneys who have told me slightly different things about the consequences of filing ch 7 or ch 13 (I am in Georgia, by the way, if anyone has direct experience filing here!) Basically, based on my estimate of what our house could sell for in this market one attorney I met with said it should not be a problem keeping the house and that trustees generally only move to seize the property if it is a large profit and also depending on how much debt you have (obviously if I file ch 7).
Another atty was extremely negative and said that if I filed the trustee would get his own real estate appraisal and may even decide to take up to 6 months to give the house to sell. He also said that instead of giving us the option of paying the trustee the equity and keeping the house that the trustee could likely not accept it and decide to sell anyway (ch 7 again).
Anyone have experience with this? In a way I'm glad the one atty was such a jerk and told it like it is, but then again if I have a chance to keep the house I feel like I should go with the more optimistic and supportive atty who doesn't think it will be a problem.
Also, the atty who was a jerk basically said that I am borderline b/t 7 and 13 and that if I have to do 13 the payments will definitely be for 5 years since I would be slightly over median (this is if the trustee counts my cashed in pension fund as income) and that there is NO way the trustee would let me pay the plan off early - even if I get a job while the plan is underway I would basically have to pay all of my creditors IN FULL to get out from under it.
Thanks to all in advance for sharing your experiences and thoughts. I'm so glad I found this board
Another atty was extremely negative and said that if I filed the trustee would get his own real estate appraisal and may even decide to take up to 6 months to give the house to sell. He also said that instead of giving us the option of paying the trustee the equity and keeping the house that the trustee could likely not accept it and decide to sell anyway (ch 7 again).
Anyone have experience with this? In a way I'm glad the one atty was such a jerk and told it like it is, but then again if I have a chance to keep the house I feel like I should go with the more optimistic and supportive atty who doesn't think it will be a problem.
Also, the atty who was a jerk basically said that I am borderline b/t 7 and 13 and that if I have to do 13 the payments will definitely be for 5 years since I would be slightly over median (this is if the trustee counts my cashed in pension fund as income) and that there is NO way the trustee would let me pay the plan off early - even if I get a job while the plan is underway I would basically have to pay all of my creditors IN FULL to get out from under it.
Thanks to all in advance for sharing your experiences and thoughts. I'm so glad I found this board