Posted on: 03rd Nov, 2008 12:56 pm
I only have a $5000.00 personal loan for medical bills. $1000.00 on a visa and my home $320,000.00. Can I file a chapeter 13 if my house is the only real dept and still keep my home?
I am really struggling to keep up the payments due to the interest rate jumping so high and set to jump again in January.
I could try to re-finance next year as my tax returns will then show enough income to qualify...but I am now concerned because I had one 30 day late in October. My fico score was 680 as of september 1st but will take a hit due to the 30 day late.
I wonder now if it will even be possible to get the re-finance if my fico score drops significantly.
I tried loan modification and was denied. In my last question I was given advice to maybe file a chapter 13.
I'm going to have a nervous breakdown...help? ;)
I am really struggling to keep up the payments due to the interest rate jumping so high and set to jump again in January.
I could try to re-finance next year as my tax returns will then show enough income to qualify...but I am now concerned because I had one 30 day late in October. My fico score was 680 as of september 1st but will take a hit due to the 30 day late.
I wonder now if it will even be possible to get the re-finance if my fico score drops significantly.
I tried loan modification and was denied. In my last question I was given advice to maybe file a chapter 13.
I'm going to have a nervous breakdown...help? ;)
hi hollyjova!
welcome to forums!
i think chapter 13 bankruptcy will be a good option for you. this helps in re-organizing the debts. the lender will give you a new payment plan with easier terms and conditions. this will help you to clear off the debts within 3-5 years. to check whether you can can qualify for chapter 13 bankruptcy, visit the following link:
http://www.mortgagefit.com/bankruptcy/chapter7-chapter13.html
feel free to ask if you have further queries.
sussane
welcome to forums!
i think chapter 13 bankruptcy will be a good option for you. this helps in re-organizing the debts. the lender will give you a new payment plan with easier terms and conditions. this will help you to clear off the debts within 3-5 years. to check whether you can can qualify for chapter 13 bankruptcy, visit the following link:
http://www.mortgagefit.com/bankruptcy/chapter7-chapter13.html
feel free to ask if you have further queries.
sussane
Hi,
As you have a good credit score I think you can re-apply for a loan modification. In case you do not get a loan modification, you can apply for bankruptcy chapter 13. It is a good option for you as you will get a re-payment plan as per your financial situation. Before filing for chapter 13 consult with a good attorney.
As you have a good credit score I think you can re-apply for a loan modification. In case you do not get a loan modification, you can apply for bankruptcy chapter 13. It is a good option for you as you will get a re-payment plan as per your financial situation. Before filing for chapter 13 consult with a good attorney.