QUESTION

if i file chapter 13 bankruptcy will i be able to get an equity loan on my home even though I am filing this to stop foreclosure

Asked on Oct 10th, 2012 on Bankruptcy - South Carolina
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Bankruptcy Attorney serving Burbank, CA
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You cannot incur new debt in a Chapter 13 case without obtaining bankruptcy court approval.  The only way I could see a bankruptcy court approving an equity loan would be if you are using the loan to pay off 100% of your unsecured debts.  Otherwise, you would simply be increasing your secured debt at the expense of your unsecured creditors. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  CONTACT MARK for more information or to schedule an appointment.   
Answered on Oct 11th, 2012 at 1:13 AM

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