More details to this question:
I'm disabled got hurt on the job 4 years ago. I no longer receive compensation and having trouble meeting financial obligations. I'm using whatever means possible to stay a float. I don't even know if realistically if keeping my home is an option without remaining financially strained, anyway its difficult for me to get in and out of my home safely. I feel so bad that i keep struggling to make payments I don't have financial means to continue. How long will I be able to stay in my home if I include it? I'm not behind currently , but I can't keep it up. I'm using credit cards to help stay a float.
10 ANSWERS
Bankruptcy Attorney serving Kalamazoo, MI
at
Debt Relief Law Center
Update Your Profile
Yes, this may be a good time to file Chapter 7. Shop around, talk to an experienced and inexpensive bankruptcy attorney and find out your options.
Answered on Jun 07th, 2012 at 2:53 PM
Bankruptcy Attorney serving Seattle, WA
at
The Law Office of Marc S. Stern
Update Your Profile
It is time to stop using the credit cards. You are just digging a deeper whole. You need to see a competent bankruptcy attorney and discuss your situation. I would certainly stop paying and using the credit cards. You need to figure out what is important and how to deal with it.
Answered on May 22nd, 2012 at 7:21 PM
Glen Edward Ashman
The continued use of credit cards is a mistake and may delay or prevent your filing. See a lawyer ASAP before you make things worse. Good luck.
Answered on May 17th, 2012 at 3:37 PM
Bankruptcy Chapter 7 Attorney serving Los Angeles, CA
at
Bereliani Law Firm, PC
Update Your Profile
If you are current on your mortgage and you stop making payments now, typicall you'll need to be 6 months behind before they start any foreclosure activity. You can even request them to review you for a loan modification after you're 2-3 months behind. You also have the option of doing a shortsale instead of waiting for the house to be foreclosed on. There are many ways that you can get rid of your home while in bankruptcy and still have time in it. Every bank is different but I'd average that you have approximately 6 months to a year in the home rent free before they sell it, sometimes longer.
Answered on May 16th, 2012 at 12:35 PM
You really need to talk with a bankruptcy attorney and do some planning. Ideally, your plan will take into consideration your current income and other expenses. If you cannot afford your current home, then you need to plan to make a change.
Answered on May 16th, 2012 at 12:31 PM
Barbara A. Fontaine
If you file bankruptcy you have to include the house. Is there any equity? Could you sell it now? If not, you might just want to give up the house in the bankruptcy along with the credit card debt. I cannot give you an answer on how long you can stay in the house, but so far I have had some people stay rent-free in homes for many months after the bankruptcy was final. Sometimes the bank would rather have someone in it than to keep it empty and have vandalism. Good luck to you.
Answered on May 16th, 2012 at 12:14 PM
Immigration Attorney serving Arlington, TX
at
Law Office of Pho Ethan Tran, PLLC
Update Your Profile
If you are unable to keep up with your financial obligations, now is a good time to file for bankruptcy. A bankruptcy filing and discharge will stop creditors from collecting from you and you may even keep your house if you can make payments on it. If you are unable to make the payments, you can probably remain in the house until the bank is able to get an eviction order which can be months later.
Answered on May 16th, 2012 at 11:27 AM
Alternative Dispute Resolution Attorney serving Ventura, CA
at
Zahn Law Office
Update Your Profile
Bankruptcy may be an option for you. Generally, if you decide to give up the home through bankruptcy, you will be allowed to remain in the property for several months, but you would have to move at some point.
Answered on May 16th, 2012 at 11:23 AM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
Your question is quite complex. You stated that you are no longer receiving compensation - did you mean workers compensation, and if so why not? You state you are having problems getting safely in and out of your home, that could be an issue. Regarding your financial situation, the answer is always in the details, and the question regarding advisability of a bankruptcy can only be answered following a full examination of your present and anticipated situation. See a lawyer!
Answered on May 16th, 2012 at 11:13 AM
Criminal Defense Attorney serving Deltona, FL
at
R. Jason de Groot, P.A.
Update Your Profile
You need to start educating yourself about bankruptcy. You also need to look into social security disability benefits. How long you stay in the home after making no payments is largely amourphous. Some people have not made mortgage payments for years and are still in their homes. Others get foreclosed within a year or so. It depends upon the bank. You may also want to look into modifying your mortgage. The main thing to concentrate on is getting some sort of income, and you may qualify for disability, as well as supplemental security income. Look into both. Hire an attorney to represent you.
Answered on May 16th, 2012 at 11:12 AM