Posted on: 06th Feb, 2011 05:33 am
I live in a non judicial state(CA), with multiple ligitimate hardships, were refused a loan modification (balance exceeding 729k) for HAMP. and have missed 6 payments over 12 months and are about to go into default. I will have to claim chapter 7 at some point. I am able to borrow enough off credit cards( all high limits) to come current on my home loan before default, make future home loan payments, and make minimum credit card payments and stave off bankruptcy for 13 months. Is 13 months long enough to prevent a discharge of a future filing for ch. 7?
welcome magnru,
taking the help of credit cards for 13 months in order to come current on your home payments won't affect your chapter 7 bankruptcy discharge in any way. however, in order to file chapter 7, you'll have to clear the means test. unless you qualify the means test, you won't be able to file chapter 7 bankruptcy.
taking the help of credit cards for 13 months in order to come current on your home payments won't affect your chapter 7 bankruptcy discharge in any way. however, in order to file chapter 7, you'll have to clear the means test. unless you qualify the means test, you won't be able to file chapter 7 bankruptcy.