Loans, Debt & Credit - View Single Post - Loan modification DENIED! What to do now?

taz007 · 10-15-2009, 08:43 PM

Here is the outcome of today's proceedings:

There was a motion to lift the stay on the foreclosure today. My attorney filed an answer for me and Chase agreed to stop the foreclosure proceedings at least until my Chapter 7 discharge (sometime late November) as long as I make the payments that were due after I filed BK 7. So I have to come up with September, October and November payments by November 19th. This is doable and gives me some breathing room!

My attorney then recommended that I file Chapter 13.

Not sure about this as 1) I did not realize that I could file Chapter 7 and 13 within months of each other 2) I would like to research the ramifications of Chapter 13.

I told my attorney that I would like to see if I can first negotiate/modify using the help of NACA. My attorney then said that I must decide whether or not to file Chapter 13 within 10 days of my Chapter 7 discharge (which would be around early December).

Any ideas?

10-15-2009, 08:43 PM	#4 (permalink)
taz007 Member Join Date: Sep 2009 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Loan modification DENIED! What to do now? Here is the outcome of today's proceedings: There was a motion to lift the stay on the foreclosure today. My attorney filed an answer for me and Chase agreed to stop the foreclosure proceedings at least until my Chapter 7 discharge (sometime late November) as long as I make the payments that were due after I filed BK 7. So I have to come up with September, October and November payments by November 19th. This is doable and gives me some breathing room! My attorney then recommended that I file Chapter 13. Not sure about this as 1) I did not realize that I could file Chapter 7 and 13 within months of each other 2) I would like to research the ramifications of Chapter 13. I told my attorney that I would like to see if I can first negotiate/modify using the help of NACA. My attorney then said that I must decide whether or not to file Chapter 13 within 10 days of my Chapter 7 discharge (which would be around early December). Any ideas?