Question What are the chances?

[nw138413]

The question: What do you think the chances are to have the bank agree to such a settlement and not pursue us for any additional amounts?

Our logic is that they may not get $.25 on the dollar (especially If I can get through with a chapter 7) and if they do get that much they may have to get it over 60 months.


Just curious to see what the opinions are. It can't hurt us to ask, the worst they will do is tell us "no".

[SMinGA]

No clue on the 'chance'.

But you will need to figure out what is your debt and what is your father's debt if you are considering personal bankruptcy. For joint accounts (where you are both responsible parties) the amounts will need to be counted for each of you.

You may have too much debt to file ch. 13. And so if your disposable income is too great to file ch. 7, you'll be left with the option of ch. 11.