Got a couple ?'s regarding our recent CH 7 that was filed on 6/12.
First off, our phone which rang 40-50 times daily since we stopped paying our cc's on 2/17 hasn't rang once since the 20th(when I assume the last of our creditors got their notice)and prior to that we NEVER answered any calls to explain what was going on.
My question regards our home and car, which we intend to "ride through", as our attorney has advised us against reaffirming.
I had 1 checking acct with Chase, and 2 joint savings(which were closed by wife), 3 cc's and 1 mortgage.
I logged onto the Chase website, and both svgs are not listed(which I understand), along with the cc's and mortgage being gone.
My mortgage is paid by direct debit from another bank, and I was wondering if they will continue to take the payment even though the mortgage was included in the BK?
Concerning the car-financed through Hyundai Finance Motor Credit(a Chase subsidiary), going on that website the account is still listed and shows all the info, even though it was also listed in the BK.
Leaving the house isn't an option(as we need someplace to live, and the loan is a fixed rate and we prolly do owe more than its worth, but even people not in a BK I bet do too, and the payments are doable without the cc debt).
As for the car the KBB retail is 19,080 and we owe 17,474 so we intend on keeping it since my DW needs a car for her job and we are not upside-down in it.(Again the payments don't cause a hardship without the cc debt).
I guess my ? is this...As long as we don't default on car or house payments will they try to take those items from us?
Also if we do continue prompt and timely payments will any of those reflect favorably in our credit report?
Many thanks!
First off, our phone which rang 40-50 times daily since we stopped paying our cc's on 2/17 hasn't rang once since the 20th(when I assume the last of our creditors got their notice)and prior to that we NEVER answered any calls to explain what was going on.
My question regards our home and car, which we intend to "ride through", as our attorney has advised us against reaffirming.
I had 1 checking acct with Chase, and 2 joint savings(which were closed by wife), 3 cc's and 1 mortgage.
I logged onto the Chase website, and both svgs are not listed(which I understand), along with the cc's and mortgage being gone.
My mortgage is paid by direct debit from another bank, and I was wondering if they will continue to take the payment even though the mortgage was included in the BK?
Concerning the car-financed through Hyundai Finance Motor Credit(a Chase subsidiary), going on that website the account is still listed and shows all the info, even though it was also listed in the BK.
Leaving the house isn't an option(as we need someplace to live, and the loan is a fixed rate and we prolly do owe more than its worth, but even people not in a BK I bet do too, and the payments are doable without the cc debt).
As for the car the KBB retail is 19,080 and we owe 17,474 so we intend on keeping it since my DW needs a car for her job and we are not upside-down in it.(Again the payments don't cause a hardship without the cc debt).
I guess my ? is this...As long as we don't default on car or house payments will they try to take those items from us?
Also if we do continue prompt and timely payments will any of those reflect favorably in our credit report?
Many thanks!
Comment