Ch. 13?

[giggles69]

What is the name of your state? IN
What is the difference in filing Ch7 & 13. I know about repayment, but what about effect on credit? Not thinking for buying purposes, but husband & I are about to be downsized. His concern is future employers-if we would file Ch7. How does it show up when you file Ch13? Also, how is the amount you repay calculated? We are also looking at refinancing our home, but I am afraid to add all our debts to our house payment. Thanks for your help.

 

[bigun]

Any bk shows up in the public record section of your reports.
If you can at all qualify for a Chapter 7 then do it. You want no part of a 13.
In a 13, you pay your secured debt at 100%. Then, they add in your living expenses to the secured debt and subtract that from your income. What's left goes to the unsecured creditors in a payment plan from 36 to 60 months.
Don't refi and make unsecured debt secured.
Most bk lawyers give free initial consultations. Hurry and speak with one because bk reform takes affect on 10/17.