Posted on: 14th Apr, 2009 09:09 pm
weve been thinking about filing chapter 13 due to bad economy and business not doing as well as it should. It was a new business and right after we opened the economy downturn hit. So now we owe rent for 6 months and owe our contractor and they are closing the store down. Also our house is not worth what it used to be and we dont make enough money to pay for everything. How can we save our house that takes away almost all of our income which we wont have any if the store closes.
What are our options.
What are our options.
Hi pumpkin,
Welcome to the forum,
There are so many people who are going through the similar situation as that of you.Its OK that you are filling a bankruptcy but you need to get the right chapter either chapter 7 or 13.
There is a whole lot of difference in both cases.You have said that you want to keep your home. person should keep assets and not liabilities. If you think that your home is really an asset then analyze that whether it has given money to your pocket or it has taken from your pocket.
Welcome to the forum,
There are so many people who are going through the similar situation as that of you.Its OK that you are filling a bankruptcy but you need to get the right chapter either chapter 7 or 13.
There is a whole lot of difference in both cases.You have said that you want to keep your home. person should keep assets and not liabilities. If you think that your home is really an asset then analyze that whether it has given money to your pocket or it has taken from your pocket.