QUESTION
Can I file a chapter 13 to prevent foreclosure?
Asked on May 31st, 2012 on Bankruptcy - Florida
More details to this question:
I'm considering filing CH 13 to prevent foreclosure - I have considerable equity in the home! If I file:1. Can I relocate to another state and continue working with my FL BK attorney?2. Can I relocate and rent out my home for income after filing Ch 13?Thank you!!
2 ANSWERS
Burton J. Green
Filing chapter 13 to stop a foreclosure is one of the many reasons people file 13. So yes, it will stop the foreclosure. You will make up the arrears in the course making your plan payment. You are free to move after filing. However, if you rent out your home you will be receiving additional income that might require you to file an amended plan.
Answered on Jul 10th, 2012 at 3:17 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Bankruptcy is not something you can utilize just to prevent foreclosure. A foreclosure can be delayed by bankruptcy. You need to consult with an attorney concerning your financial circumstances and options. You must first consult with an approved credit counselling agency and get a certificate from them. Relocating to another state is usually not part of the plan in a chapter 13, but you will have to consult with an attorney to find out if you can even think of doing that.
Answered on Jul 03rd, 2012 at 12:56 PM