Chapter 13 question....help! I'm new.

[tkharvey]

We are months behind on our mortgage (1st and 2nd) and have well over 100K in CC debt. We want to keep our home. Is filing Chapter 13 the only way to do that or can we keep the house in Chapter 7 if we pass the means test? We have no equity in the home so selling it would be of no benefit to trustee or creditors.

[TEW]

We are months behind on our mortgage (1st and 2nd) and have well over 100K in CC debt. We want to keep our home. Is filing Chapter 13 the only way to do that or can we keep the house in Chapter 7 if we pass the means test? We have no equity in the home so selling it would be of no benefit to trustee or creditors.

can you get to mortgage up to date? have you stopped paying the CC's yet. If you file and you are behind on the mortgage it's a good chance they will start foreclosure.

[lrprn]

We are months behind on our mortgage (1st and 2nd) and have well over 100K in CC debt. We want to keep our home. Is filing Chapter 13 the only way to do that or can we keep the house in Chapter 7 if we pass the means test? We have no equity in the home so selling it would be of no benefit to trustee or creditors.

First, if you do qualify to file Ch 7, you MUST be current on your mortgage on the day of filing to keep your house. Second, if you don't show sufficient disposable income on the mandatory Means Test to support a Ch 13 plan, you can't file Ch 13 to keep your home.

It will help us help you better if you can answer a few questions about your situation:
- What state do you live in?
- If you add up all gross income from all sources coming in for the last six calendar months, how much is it?
- Are you married?
- Do you have children or other dependents living with you?
- Do you have other secured assets or property you would like to keep after filing? If you do, how much equity (if any) does each asset have?

Sharing a bit more information will help us make a better estimation about where you stand on Ch 13 vs Ch 7.