QUESTION
What should I do to modify my chapter 13 file?
Asked on Jun 17th, 2012 on Bankruptcy - Florida
More details to this question:
i am disabled on social security dsability. i have one dependant. i lost my job last year and now my home is 7 months behind in ortgage payments. my equity is too much to file chap. 13. i want to ask for a modification. should i?
9 ANSWERS
Burton J. Green
You can always file a motion to modify your chapter 13 if circumstances have changed. Whether a judge will approve the modified plan will depend on the facts of your situation. If you were employed when you filed and now are disabled and receiving limited income, you appear to have circumstances that would justify a modification. Assuming you still have enough time to cure the mortgage in the remaining plan payments, it would seem advisable to discuss modifying the plan with your or an attorney.
Answered on Jun 28th, 2012 at 5:14 PM
Before you assume that you have too much equity, you should check with your chapter 13 lawyer about whether it makes sense to switch to chapter 7. Your home value may have declined; everyone else's has. Also if you were not disabled when you originally filed, the amount of equity you can protect has gone up.
Answered on Jun 27th, 2012 at 6:35 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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To modify a chapter 13 you have to file a request to modify with the court. It sounds like you should use a lawyer.
Answered on Jun 27th, 2012 at 5:27 PM
2 Awards
What do you mean your equity is too high for Chapter 13. If you have equity you'll never get a loan modification. I recommend you seek legal advice through a consultation.
Answered on Jun 27th, 2012 at 2:23 PM
If you are currently in a Chapter 13 and operating under an approved plan, then you must ask the court for any modifications to the plan.
Answered on Jun 27th, 2012 at 2:17 PM
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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If you are unable to make payments according to your repayment plan due to unemployment, you can request the court to convert your case to chapter 7. What types of assets do you have and what are their values?
Answered on Jun 27th, 2012 at 2:08 PM
Bankruptcy Attorney serving Atlanta, GA
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Saedi Law Group, LLC
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If you are represented by counsel then you need to make an appointment to review this issue with your attorney as the answer will be fact specific. If you do not have an attorney I would strongly recommend that you retain one.
Answered on Jun 26th, 2012 at 4:38 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Have you filed a bankruptcy? If you haven't and you do not have an attorney, get one. Use the online means test calculator to determine which chapter you need to file. You also need to consult with an approved credtit counselling service prior to filing bankruptcy. Bankruptcy may help you get the modification you need.
Answered on Jun 26th, 2012 at 4:33 PM
Bruce Arthur Plesser
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Answered on Jun 26th, 2012 at 4:31 PM