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Thinking about filing a chapter 13 and have questions?


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I'm in Georgia and I'm thinking hubby and I are thinking about filing a chapter 13.

Our home is currently on it's way into foreclosure.

1. If we file to save our home, will we still have to pay back the interest, plus principal on the loan. or just the fair market value of the home?

2. If my husband decides to file by himself, and both of us are on the mortage, which we intend to keep, will they still come after me for the past due amount, even though the home is included in my husband's individual bankruptcy?

3. I keep reading about exemptions? I have a 2005 Honda Accord that is fully paid for. Will they allow me to keep it, since it may be more than the exemption or would it have anything to do with the bankruptcy at all?

4. Speaking of exemptions, do you know how much cash you're allowed to keep in your account. If there is excess, does "all" of that excess to to the trusee immediatly?


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In a Chapter 13, secired creitors are paid first. You can't alter the terms of the mortgage. Areages may be placed in the plan and repaid over 60 months. The cosigner does have protection in the Chapter 13 bk. After secured debts and priority debts are paid, all disposable income goes into the plan to repay unsecured creditors.

In a 13, you can keep your car and cash as long as the plan provides for unsecured creditors to receive at least what they'd have gotten in a Chapter 7.

Do you have any equity in the home?

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