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Should I File A Chapter 7 Bankruptcy

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  • 01-30-2008, 12:31 PM
    miltner213
    Should I File A Chapter 7 Bankruptcy
    okay. I live in Arizona. I got a divorce 10/06. I gave the ex the house, and in the decree it states that he needed tp refinance or whatever to get my name off the mortgage. Well he never did, took him to court, now the FIRST mortgage is in foreclosure. I also have $25128 in unsecured debt that I have not made payments on since 9/06 due to a major pay cut and the divorce. This does not include the 92000 first mortgage and 23000 second mortgage. What I am wondering is.... Do I just wait out the seven years? I have not received anything from attornys concerning the unsecured debt. All of the unsecured debt has been charged off but a couple have been "purchased by another lender". I have no judgements or anything. what are the chances of someone coming after me after 1 1/2 years and would the mortgage company come after me ( like wage garnishment ) I just want to know if it's worth the stress. Also, can I pay a document preparer instead of an attorny to save money. and one last thing- if i do file, can I add my leased car? the lease is up in july but i dont want it anymore. thanks ahead of time :)
  • 01-31-2008, 01:00 PM
    miltner213
    Re: Should I File A Chapter 7?
    Can anyone help me please??
  • 02-05-2008, 12:39 PM
    miltner213
    Re: Should I File A Chapter 7 Bankruptcy
    Is my question too difficult? Can anyone help me????
  • 02-05-2008, 02:05 PM
    gigirle
    Re: Should I File A Chapter 7 Bankruptcy
    will try by you need to be clearer...
    Quote:

    okay. I live in Arizona. I got a divorce 10/06. I gave the ex the house, and in the decree it states that he needed tp refinance or whatever to get my name off the mortgage. Well he never did, took him to court, now the FIRST mortgage is in foreclosure.
    How did it go in court? I can asssume that he was suppost to make the payments etc and he hasn't.
    Quote:

    What I am wondering is.... Do I just wait out the seven years?
    Have you already filed a ch 13? If not, not sure where the 7 years is coming from.
    Quote:

    . I also have $25128 in unsecured debt that I have not made payments on since 9/06 due to a major pay cut and the divorce. This does not include the 92000 first mortgage and 23000 second mortgage
    Was this part of a ch 13? and your in a repayment plan??
    Quote:

    what are the chances of someone coming after me after 1 1/2 years and would the mortgage company come after me ( like wage garnishment )
    very likely depending on if there is a judgement and is the ex working with the lender to try and save the house. Hard to say bc it's unclear to me from the post.
  • 02-06-2008, 09:21 AM
    miltner213
    Re: Should I File A Chapter 7 Bankruptcy
    Sorry, didnt mean to make it confusing.

    I have a free consiltation with an attorney Friday to help me because I have no idea what to do. the property is suppost to be refinanced in the ex husbands name after the divorce in 2006 but he never did that. He stopped paying the first and second mortgage, the first is now in foreclosure with an auction date of 04/06. I took him to court for contempt but the judge pretty much just told me to handle it by putting it on the market. I dont have the time, money or mental sanity to deal with that property so i just want to let it go, the market is so slow anyway and it's trashed. I just wasnt sure if the bank would come after me (wage garnishment) or not. Can i even file a chapter 7 with the house in the middle of foreclosure?
  • 02-06-2008, 11:44 AM
    gigirle
    Re: Should I File A Chapter 7 Bankruptcy
    Quote:

    Can i even file a chapter 7 with the house in the middle of foreclosure?

    I want to say yes bc of the existing court order, your lawyer should help you on this. Sounds like Ch 7 is the answer for you but you may have a headache converting the 13 to a 7 (that is if there was a 13 to begin with)
  • 02-07-2008, 10:46 AM
    miltner213
    Re: Should I File A Chapter 7 Bankruptcy
    sorry to make it all confuzing once again. I never filed a chapter 13 so this would be the first ive ever addressed the debt. My last question to you is can I give up my car (its a lease) with the bankruptcy? Ive never been late on any payments but really dont want it anymore. Also, I really wanted a document preparer to do it so I could save a grand but I guess with the pending foreclosure that may be too complicated. thanks for your help:)
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