Posted on: 12th Jan, 2010 12:02 pm
I have about 25,000 in credit card debt and about 7,000 in unpaid medical bills. I am trying to get a loan modification for my mortgage to reduce my mortgage by 200 per month.
I am not late on my mortgage or credit card payments, but I am only paying the minimum payments. Wen my property tax is due I will probably have to put it on a credit card. Do I need to file chapter 7.
I am not late on my mortgage or credit card payments, but I am only paying the minimum payments. Wen my property tax is due I will probably have to put it on a credit card. Do I need to file chapter 7.
Hi Sawone,
You'll not be able to discharge your property taxes with the help of Chapter 7. You'll be liable for them though you file bankruptcy. It is good that you've applied for a loan modification to make your mortgage payments affordable. As far as your credit card debts are concerned, you should negotiate with your credit card company and try to reduce them. You should try and get a payment plan to pay off the credit card dues. Whatever you save will help you in paying your property taxes.
Thanks
You'll not be able to discharge your property taxes with the help of Chapter 7. You'll be liable for them though you file bankruptcy. It is good that you've applied for a loan modification to make your mortgage payments affordable. As far as your credit card debts are concerned, you should negotiate with your credit card company and try to reduce them. You should try and get a payment plan to pay off the credit card dues. Whatever you save will help you in paying your property taxes.
Thanks
Hi,
Even if you file bankruptcy you are liable to pay property taxes. You can apply for permanent loan modification and it will lower down the interest as well as your monthly payment. For your credit cards and medical bills you can negotiate with the companies directly or else there are companies who consolidate debts. They negotiate with the creditors on your behalf and try to give you a good settlement offer. If you directly try to negotiate with the credit card companies they might not agree as you are current on your payments but still you can try that out.
Even if you file bankruptcy you are liable to pay property taxes. You can apply for permanent loan modification and it will lower down the interest as well as your monthly payment. For your credit cards and medical bills you can negotiate with the companies directly or else there are companies who consolidate debts. They negotiate with the creditors on your behalf and try to give you a good settlement offer. If you directly try to negotiate with the credit card companies they might not agree as you are current on your payments but still you can try that out.