Posted on: 02nd Jul, 2010 09:52 am
I make 13.00 an hour and i am a single parent. My mortaga is 1700.00 a month I am working on a modification for 640.00 I have been waithing for 4 months now for their yes or no to accept that offer. my second is 400.00 a month, my hoa is 350.00 and is going up. I have medical bills and electric, phone and food bills but no credit cards. I was told i do not make enough to file a chapter 13, because I would have to make all of the payments plus about 1900.00 to the trustee on top of those payments is that true?
hi piper,
chapter 13 bankruptcy filing will help you in reorganizing your debts. your trustee and the creditors will give you a payment plan and you will have to make payments depending upon that plan. thus, if you do not have the required income, then you won't be able to make the payments. in that case, you may check out with your bankruptcy attorney whether or not you can go ahead with chapter 7.
chapter 13 bankruptcy filing will help you in reorganizing your debts. your trustee and the creditors will give you a payment plan and you will have to make payments depending upon that plan. thus, if you do not have the required income, then you won't be able to make the payments. in that case, you may check out with your bankruptcy attorney whether or not you can go ahead with chapter 7.