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  1. #1
    Join Date
    Aug 2008
    Posts
    1

    Default What Are Options if Under Chapter 13 and Lost Job?

    My question involves bankruptcy in the state of: Georgia
    I am currently under a chapter 13/5 yr plan. I have been on the plan for 3 yrs now and have paid my plan base which was 100% due to my secured creditors. I was recently laid off and am unable to make my scheduled payments. My attorney requested that my payments be suspended for 2 mths. The suspension is up now, and I was told by my attorney that I would have to continue my payments. I am collecting unemployment and have no other income and cant afford to make the payments. I had mortgage arrears that were included in the 13 as well as a car loan. I have been making payments directly to the mortgage company and am current. According to my case summary, I still owe about $10,000 to my unsecured creditors at 50%. I owe about $2,000 on my car loan that was included in plan and about $300 to mortgage company. I am prepared to pay those amounts off with money I received from severance package. I was told that my payments cannot be lowered because I would be in plan longer. Can my percentage paid to unsecured creditors be changed in plan? Or, can I convert to a chapter 7 at this point and still keep my home and car?

  2. #2
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: What Are Options if Under Chapter 13 and Lost Job?

    Since you have an attorney, you need to ask him what options you now have. However, it is sometimes possible to convert to a chapter 7 (& keep your house/car) if you qualify.

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