I searched but did not see what I am looking for so thanks for any help!
Just a quick rundown: Wife is filing alone. Most likely a 13 at first so we can keep the house for a while. We have about 50k in CC debt in her name, and maybe 7k in mine (manageable so no need for me to file) The end result will be getting rid of the house though as the $2100 payment in my economy is difficult. She apparently can convert to a 7 if and when she chooses. We have arrears which is why the 13 at first. We also want to try and stay in the house until spring as my daughter graduates high school and will be leaving for the Air Force and youngest finishes elementary so it opens up more alternatives for renting a cheaper house. We are in Raleigh, NC (Eastern district)
By going with a 7, removing that mortgage payment and getting a cheaper house to rent would give us more disposable income, possibly kicking us into a 13 correct? Should we do a 13, pay the arrears off over the next 8-9 months, convert to a 7 and use a "ride through" on the mortgage, then let the house foreclose after discharge? Thanks!
Just a quick rundown: Wife is filing alone. Most likely a 13 at first so we can keep the house for a while. We have about 50k in CC debt in her name, and maybe 7k in mine (manageable so no need for me to file) The end result will be getting rid of the house though as the $2100 payment in my economy is difficult. She apparently can convert to a 7 if and when she chooses. We have arrears which is why the 13 at first. We also want to try and stay in the house until spring as my daughter graduates high school and will be leaving for the Air Force and youngest finishes elementary so it opens up more alternatives for renting a cheaper house. We are in Raleigh, NC (Eastern district)
By going with a 7, removing that mortgage payment and getting a cheaper house to rent would give us more disposable income, possibly kicking us into a 13 correct? Should we do a 13, pay the arrears off over the next 8-9 months, convert to a 7 and use a "ride through" on the mortgage, then let the house foreclose after discharge? Thanks!