What is the name of your state (only U.S. law)? Texas
Hello,
Late last year I filed for Chapter 13 and the case was confirmed in Jan this year as a 100% plan. On top of that stress, in March my wife has decided to pursue a divorce - there's a 60 day wait period in my state before the divorce is finalized. As a result, I have 4 main questions I'd like to get answered if I could please:
1) Will my 13 automatically be converted into a 7? It would appear I'd fail the means test now with the loss of the combined income and significant increase in expenses.
2) If the 13 does not convert to a 7, what happens to the proceeds from the sale of the home? She wants 50% of the home sale proceeds, my wife (soon to be ex wife) was not included in the bankruptcy.
3) If the case is converted to a 7 in the middle of a home sale - what happens to the proceeds of the home?
4) Can you even sell a home in a bankruptcy? I'd assume the lender wants to be made whole and would accept the sale of a home?
Thanks all
Hello,
Late last year I filed for Chapter 13 and the case was confirmed in Jan this year as a 100% plan. On top of that stress, in March my wife has decided to pursue a divorce - there's a 60 day wait period in my state before the divorce is finalized. As a result, I have 4 main questions I'd like to get answered if I could please:
1) Will my 13 automatically be converted into a 7? It would appear I'd fail the means test now with the loss of the combined income and significant increase in expenses.
2) If the 13 does not convert to a 7, what happens to the proceeds from the sale of the home? She wants 50% of the home sale proceeds, my wife (soon to be ex wife) was not included in the bankruptcy.
3) If the case is converted to a 7 in the middle of a home sale - what happens to the proceeds of the home?
4) Can you even sell a home in a bankruptcy? I'd assume the lender wants to be made whole and would accept the sale of a home?
Thanks all