Posted on: 03rd Jul, 2010 10:24 am
i have credit card debt over 40,000 due to loss of employment and divorce.
i have been working for the past couple of years but became ill and missed home equity loan payment for 3 months. when i called in march to catch up on the payment , they informed me the loan was charged off as bad debt profit loss just a couple of days before.
i have five judgments from the credit cards. i am considering filing chapter 13. my income is 65,000. my surplus income is approximately $ 100. my house is appraised between 180,000-210,000. my balance on the house is 92,000 plus the equity of 40,000. the value of my car and household assets combined are estimated below 10,000.
i have been trying to get loan modification, because my expenses are too but keep getting the run around.
do i qualify for chapter 13 since my surplus income is so low or do you recommend other k at other options. i am not crazy about bk but will do as last resort.
i have been working for the past couple of years but became ill and missed home equity loan payment for 3 months. when i called in march to catch up on the payment , they informed me the loan was charged off as bad debt profit loss just a couple of days before.
i have five judgments from the credit cards. i am considering filing chapter 13. my income is 65,000. my surplus income is approximately $ 100. my house is appraised between 180,000-210,000. my balance on the house is 92,000 plus the equity of 40,000. the value of my car and household assets combined are estimated below 10,000.
i have been trying to get loan modification, because my expenses are too but keep getting the run around.
do i qualify for chapter 13 since my surplus income is so low or do you recommend other k at other options. i am not crazy about bk but will do as last resort.
Hi Irisdoneperez,
You need to contact a bankruptcy attorney and take his opinion in this regard. The bankruptcy attorney will go through your financial situation and let you know whether or not you will be able to file Chapter 13 bankruptcy.
Thanks
You need to contact a bankruptcy attorney and take his opinion in this regard. The bankruptcy attorney will go through your financial situation and let you know whether or not you will be able to file Chapter 13 bankruptcy.
Thanks