Keeping House and Car

[MjC1990]

My husband and I are filing for chapter 7 bankruptcy on the 31st. We have opted to keep our house and vehicle and continue to make payments. However in order to pay the attorney fees we have contacted our mortgage company and auto loan company to arrange deferred payment options which were approved. Now our law office calls yesterday saying if we are behind on our payments and the banks get the notice that we are filing for bankruptcy they may decide to pull the payment agreements and go ahead and forclose our house and repo the car. Granted we are only 3 weeks late on the house payment and the car loan is current since we paid the required amount to get the deferment. So the legal assistant said we may have to file chapter 13 to guarantee that we get to keep our house and car. I asked if I should call either bank and she said not to call them. So basically all I can do is sit and worry about it until we talk to the lawyer next week and by then I feel like it will be too late to do anything about it.

 

[Zigner]

It would be foolish for us to attempt to provide advice because you are represented. You need to work with your legal cousel on this.