Posted on: 05th Oct, 2010 10:37 pm
I have a disposable monthly income of $1100 as calculated on my B22C Form. I do not own a home, but have a $50,000 antique car (owned free and clear) and my wife has $15,000 in jewelry. My unsecured credit card debt is $110,000. Can I keep my car and my wife's jewelry and will the BR trustee divide up the $66,000 paid out over 60 mo. to the creditors (minus his cut), or will I have to sell them?
Hi dmyers!
Welcome to forums!
Chapter 13 helps you in reorganizing your debts. Thus, you'll be able to keep your car as well as your wife's jewelry though you file Chapter 13 bankruptcy. The trustee as well as your creditors will give you a payment plan based on your financial situation which will help you in paying off your dues.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Chapter 13 helps you in reorganizing your debts. Thus, you'll be able to keep your car as well as your wife's jewelry though you file Chapter 13 bankruptcy. The trustee as well as your creditors will give you a payment plan based on your financial situation which will help you in paying off your dues.
Feel free to ask if you've further queries.
Sussane