For those going through with Ch. 7 BK

Yanqui · 02-11-2009, 10:47 PM

I'm insolvent and no longer wish to continue with the stress and calls. I have an attorney in az. and I'm going to file ch. 7 since I have not had an income in five months. My main concern is that I want to keep my first home that is near my daughters. Since I had to rent it in hopes of making my mortgage payments the BK attorney tells me a trustee from the court will take my property but since it's underwater I will be able to get it back. Also something about filing abandonment because I had to leave the premises for my medical hardship and lack of funds.

Can those going through with their ch. 7 explain some of the terms like discharge? and is it possible to keep my home and let the other go? Or keep both under a ch7? it seems that the mod has gone through on the other home. Like I said before in many threads, too little too late.

Thanks

Yanqui · 02-12-2009, 01:20 PM

Means test. This is the test that either qualify's you for a certain type of BK. ( I guess )
I haven't earned any money in the last five months so I passed the test for BK, ch 7. So wipe the slate clean.

dst491 · 03-16-2009, 05:50 PM

You can probably keep your house if you are current and let the other ones go. Being current is going to determine that.

Yanqui · 03-16-2009, 06:41 PM

Thank you dst491, I am now three months behind on my primary, and I'm trying to save the money to come current when I hear from Countrywide. I still will be filing BK in July as soon as I can get back into my home.