will a 30 day late morgage payment affect our Chapter 7 bankruptcy?

[sac42375]

Hello All,

We are getting ready to file for chapter 7 bankruptcy next month and we are having a hard time making our mortgage payment this month. (We are not including the house in the bankruptcy). Will this negatively affect our bankruptcy. Will the trustee think that we are still being financially irresponsible? We had some extra expenses this month, speeding ticket, ER visit, etc... We are only going to be 2 days past the 30 day late mark, but are worried it will look bad, but then again it is showing that we dont have any extra money... Any advice??

Thanks
Andrea

[newbie2]

Hello All,

We are getting ready to file for chapter 7 bankruptcy next month and we are having a hard time making our mortgage payment this month. (We are not including the house in the bankruptcy). Will this negatively affect our bankruptcy. Will the trustee think that we are still being financially irresponsible? We had some extra expenses this month, speeding ticket, ER visit, etc... We are only going to be 2 days past the 30 day late mark, but are worried it will look bad, but then again it is showing that we dont have any extra money... Any advice??

Thanks
Andrea

It isn't what the trustee thinks that you should be worried about, it's your mortgage lender. If you are not current on the date you file they will probably file a motion to lift the automatic stay. In a Chapter 7 filing you are supposed to be current on all secured debt as there isn't a provision to pay back arrears. Do what you can to get current before you file.

[sac42375]

We already have a payment schedule for July 2nd, (It is due my June 30th). We have never missed a mortgage payment and this will be our first time being more than 30 days late after 5 years in the home. We were just concerned that having a late payment would be a problem. I was also wandering where my student loan payment would go in the means test or schedule J.

[SMinGA]

Student loans generally go into forebearance during a bankruptcy - so don't go on the schedules/means test as anything other than a creditor on the matrix/list of unsecured debts. Check w/ your atty to see how your district handles them.