chapter 13

Hi Guest.

Welcome to the forum.

Statutory caps for chapter 13

Secure debt limit for Chapter 13 is $1,010,650 and unsecured debt limit is $336,900. The debt limits are adjusted every three years. So for the Chpter13 repayment plan you should have regular income and your debts should be below the statutory caps. Feel free to ask if you have further questions.

Best of luck,
Larry

Is it possible for the bank to foreclose after filing Chapter 13?

Hi Bobbie,

If the court has accepted your bankruptcy filing and issued an automatic stay, then your creditors/lenders will not be able to sue you or foreclose your property. However, if the court has not issued an automatic stay, then the lender will be able to foreclose your property.

Thanks

purpose of BK is to avoid Foreclosure.

If the bankruptcy was discharged and the mortgage was under the bankruptcy then no.

But if the bankruptcy did not include his loan, and it was discharged, then he for example fell behind on his mortgage payments, then yes it would be forclosed

I've have a judgement & wage garnishment against me from my brother, my home I have been ordered to vacate my home to satisfy this judgment, can the amount of the judgment is 292K can I file for bankruptcy to save my home.

Hi Guest,

You can file bankruptcy in order to get a discharge from your debts. You should immediately contact a bankruptcy attorney and take his opinion in this matter. He will go through your situation and let you know which chapter of bankruptcy filing will be best suited for you.