keep current on mortgage when filing chapter 7??!?!?!

[TheBajan]

Did I read into this correctly that upon filing Ch. 7; the mortgage accounts (Wells Fargo) won't allow another payment (account locked due to STAY)...I am current and wish to remain that way. Can I continue to pay after filing?

Hi Cat...

This is an old post, but to answer your question, you are able to continue your payments. The stay keeps the mortgage company from trying to collect from you. However, they are able to accept whatever payments you choose to make. Typically, a mortgage company won't accept partial payments (less than the minimum due) and they are not required to. The stay doesn't keep you from making payments and it doesn't keep them from accepting payments. It only keeps them from pursuing you for delinquent payments.

Hope that helps,

The Bajan

edit... note that you probably won't be able to continue having online access to your account but you can still make payments via traditional methods like writing a check or sending a money order.

[catlfuzzy]

Yes this answers my question perfectly.. thank you much.

Hi Cat...

This is an old post, but to answer your question, you are able to continue your payments. The stay keeps the mortgage company from trying to collect from you. However, they are able to accept whatever payments you choose to make. Typically, a mortgage company won't accept partial payments (less than the minimum due) and they are not required to. The stay doesn't keep you from making payments and it doesn't keep them from accepting payments. It only keeps them from pursuing you for delinquent payments.

Hope that helps,

The Bajan

edit... note that you probably won't be able to continue having online access to your account but you can still make payments via traditional methods like writing a check or sending a money order.