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Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
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Old 04-07-2004, 03:14 PM
IAMOKAY
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Question

Chapter 13? Can I be a co-signer for a home as we are in desperate need of one.


Missouri here. I have been in a Chapter 13 for about 2 years now and was wondering if I would be allowed to co-sign with my husband to buy a home? We have a very small house that I have rented for 5 years and we need something bigger due to our family size. We are talking about a modular type home that is very reasonable in cost with no fancy features to it, just enough room for all of us to live. How do I go about finding out if I can use my income to co-sign for this home? Instead of paying rent every month I would just be substituting a house payment. Any information would be greatly appreciated.
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Old 04-09-2004, 09:17 AM
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You have to have the approval of the Trustee to incur any new debt. There are forms to fill out to request permission to incur new debt. If the amount is going to change your plan, you'll have to have that modified too.
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