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Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
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  #1  
Old 01-05-2006, 12:37 PM
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Join Date: Jan 2006
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Wanting to move

What is the name of your state? Indiana

My husband and I are wanting to move closer to his work. We are currently paying on a Chapter 13 and have 18 months left to pay. Does anyone know if we are able to sell our house and purchase a new one closer to his work.
  #2  
Old 01-05-2006, 01:56 PM
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Join Date: May 2001
Posts: 6,455
Talk with your attorney before you proceed with this idea.
Selling your house may have the affect of modifying your plan where unsecured creditors will get paid at 100% {assuming they are being repaid at less than 100% currently}.
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Old 01-05-2006, 02:32 PM
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Thank you for your help. I know that the builder we are talking to has a Guaranteed Buy program for people getting out of their current home. We may only get what we owe on our house. And payments on the new house would be very close to what we are paying now. Would that make a difference?
  #4  
Old 01-05-2006, 03:21 PM
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You still need to speak with your attorney. You need your trustees permission before you acquire new debt.
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