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Question
Hi- thanks for volunteering. I was sure I knew the answer to my question, but a few people are telling me I'm wrong so I'm trying to double check. I was very impressed with my lawyer Keith D Collier here in Jacksonville, FL and I'm pretty sure he did all he was supposed to. I went into chapter 7 a week prior to going to court for a Summary Judgement on the foreclosure of my house.
That being said, here's my question- can I keep my home after chapter 7? I'm sure not since it was at the tail end of foreclosure at the time. My plan was to stave off the foreclosure a bit with chapter 7 because I had been unemployed for 18 months, then unemployment got cut off. I wanted a few months so that when I had to move, I might have a job by then. I do now, but its so part time and low paying, I make less than unemployment.
Anyway, what are my friends and family talking about? Was there something my lawyer could have doen to save the house after bankruptcy? I'm sure I didn't have a leg to stand on with the end or foreclosure and no income to reorganize through chapter 13. Do you know something I don't?
Thanks!
Lisa
I am very sorry that you and so many other people are facing so much hardship. I hope things improve quickly for you.
)
Your friends probably mean well, but they are quite wrong. The only way for you to keep your home is to pay what you owe. You seem to have already determined that you won't be able to do a 13. For the sake of others who might read this, I will briefly explain what a 13 does.
Sometimes, that can be accomplished through Chapter 13 bankruptcy. You can do some general reading about Chapter 13 in my Bankruptcy Guide at http://www.debt-relief-bankruptcy.com/faq-browse11-17/bankruptcy-guide.asp
Chapter 13 may allow someone to to begin making the regular monthly house payment, and also pay something extra every month to gradually catch up the back payments. The back payments can be caught up over as long as 60 months. If you think you can afford that, then talk to your lawyer right away about the possibility of converting your 7 into a 13, or perhaps filing a new case under Chapter 13.
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Thanks for a concise and timely response! Lisa | ||
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Answers by Expert:
Los Angeles Bankruptcy Lawyer Leon D. Bayer
Expertise
Leon Bayer has successfully represented clients in bankruptcy for over 30 years. He is frequently called upon by the media, the California Bar and other associations to provide insight and help educate attorneys on bankruptcy issues. If you or other readers want to keep up with my blog postings about life in and out of bankruptcy, you can follow my blog at http://www.bankruptcyblogger.org/ and my personal web site at http://www.debt-relief-bankruptcy.com and A Human Guide to Bankruptcy at http://www.thebankruptcyguide.net/ Leon also writes about bankruptcy law for Nolo, see http://www.nolo.com/law-authors/leon-bayer.html and his "Ask Leon" bankruptcy law blog column at http://blog.nolo.com/bankruptcy/
Experience
Leon is a Certified Specialist in Bankruptcy Law by the State Bar of California, and has been a practicing bankruptcy lawyer in Los Angeles, California for 33 years.
Organizations
National Association of Consumer Bankruptcy Lawyers, California Bar Association, Los Angeles County Bar Association.
Publications
Author, ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987.
Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993.
CEB Consultant, CEB-Personal and Small Business Bankruptcy Practice in California, 2003.
Education/Credentials
B.A., J.D.
Awards and Honors
President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory
Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000
MR. BAYER SAYS: The big banks and credit card companys have been working overtime for many years to undermine the Consitutional right of the American people to be able to claim bankruptcy protection. In 2005 the banking lobby successfully convinced Congress and the President to make the laws and proceedures more complicated, hopeing that it will stymie legitimate people from filing bankruptcy. They succeeded in gaining these complex new legal proceedures by greasing the legislative system with hundreds of millions of dollars in "campaign contributions." The good news for the American people is that while the new laws have made the proceedures needlessly complex to the point where inexperienced people can't help but trip over the maze of new rules and regulations, the process is still doable, especially with a lawyer who is well trained and experienced in this specialty.
Past/Present Clients
I have probably handled something on the order of about 15,000 bankruptcy cases thropughout my career.
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