chapter 13

[jthompso]

What is the name of your state? ohio i am curious what happens if your ch.13 isnt payed off at the end of the projected 5 year pay off? my monthly payment can't be raised, i have it taken out of my check weekly and it leaves me with no money. i went in trying to save my house from foreclosure. if i payed the past due balence on the house could my 13 be converted to a 7. i started oct. 2003 and end oct. 2008. i will still owe 19,000. what are my options? i own a van out right and my cars are included in the 13. i would like to get rid of those two cars in 13 will that help in what i owe and can that be done.
thank you

 

[Ladynred]

i am curious what happens if your ch.13 isnt payed off at the end of the projected 5 year pay off?

If you don't fully pay off secured debts than those debts remain after your Ch 13 is completed. You will just have to keep paying your normal house and car payments.

i have it taken out of my check weekly and it leaves me with no money.

You can always file to amend your plan to REDUCE your payments if your income has changed since 2003.

if i payed the past due balence on the house could my 13 be converted to a 7

Possibly, ask your lawyer. The new law may affect a conversion to a Ch 7, new rules will apply.

i would like to get rid of those two cars in 13 will that help in what i owe and can that be done.

You cannot dispose of assets of the estate w/o the Trustee's permission, but yes, you could sell the vehicles once you get permission.

 

[GaAtty]

If you converted from a 13 to a 7 and have any substantial equity in your house, then you will probably lose your house, as it will be sold to pay creditors with the equity in it. If you have a bankruptcy attorney they should be able to answer these questions.