![]() |
| ||||||||||||
| |||||||||||||
| |||||||||||||
| |||||||
| | |
![]() |
| | LinkBack | Thread Tools | Rate Thread | Display Modes |
|
#1
| |||
| |||
Treatment of ARM in chapter 13What is the name of your state? Ohio Will I be able to modify my payment plan, when ARM changes (every 6 months)? How likely will it be that I can sell property during Chapter 13? What is a 0% Chapter 13 and what are qualifications? ![]() |
|
#2
| |||
| |||
| You will need the trustees permission to sell property of the bk estate while in a 13. A mortgage is a secured asset and will need to be paid at 100% to keep the house. A mortgage arreage may be included in the plan but, must be paid at 100% In a 13, payments have a priority. Highest priority are your legal fees and plan expenses. Then, things that must be paid at 100% like, secured debts, court ordered child/spousal support, taxes, student loans,etc. After that, any disposable income goes to unsecured creditors. So, it's not unusual to see a zero or minimal payback to unsecured debt depending on individual circumstances. A big caveat-per the bk code, a unsecured creditor can't get less in a 13 than they would have received in a 7. Why are you filing a 13 as opposed to a 7? |
![]() |