Discharged from Chapter 13 Bankruptcy and Having to Re-File
Due to my unemployment, I have been unable to keep up my trustee payments so my 13 is being dismissed.
If I refile as a 7 will my mortgage be protected or will it have to be included. Also, I owe $350 on our vehicle. What will happen with it.
I live in Texas and the 13 was filed in 9-05, before the bankruptcy law changes came into effect. Will my refiling be subject to the new rules?
Re: Discharged from Chapter 13 Bankruptcy and Having to Re-File
What do you mean "will my mortgage be protected"? If you are current with your payments and wish to continue your mortgage, you may do so.
You will enjoy an exemption for part or all of the value of your vehicle, depending upon the exemptions allowed in your state and the equity in your vehicle. Beyond that, what are you trying to ask?
A new Chapter 7 filing would occur under current laws.
Re: Discharged from Chapter 13 Bankruptcy and Having to Re-File
Texas is one of the most liberal exemption states. (Property they can't take)
Motor vehicles: A two-wheeled, three-wheeled, or four-wheeled motor vehicle for each member of a family or single adult who holds a driver's license or who does not hold a driver's license but who relies on another person to operate the vehicle for the benefit of the nonlicensed person can be claimed as exempt property. Tex.Prop. Code § 42.002(a)(9).
If your asking something other in regard to your vehicle, please let us know.
Re: Discharged from Chapter 13 Bankruptcy and Having to Re-File
This has been answered.. Thanks