Legal Question in Bankruptcy in Delaware

Reaffirmation of Debt

I have filed Chapter 7 bankruptcy and I want to keep my vehicle and my home. I have gotten behind on my mortgage payments along with everything else and the company says they won't accept payments to catch up, they want me to write them a $4000.00 check. I couldn't even afford an attorney, I am doing it myself. If I request to reaffirm my debt with them is there any law that requires them to work with me in relation to catching up? If not what other options might I have?


Asked on 3/02/98, 4:28 pm

2 Answers from Attorneys
Daniel Press Chung & Press, P.C.

Behind on mortgage in bankruptcy

There is nothing to compel a secured creditorto work with you as you suggest in a Ch. 7.Perhaps you should consider converting to Ch.13.

You are being penny-wise and pound-foolish to trty to do this without a lawyer. I would put money on your being unable to keep yourhome if you don't get counsel. In a 13, manylawyers will take much or all of the fee through the plan, so you don't have to have cash up front.

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Answered on 3/04/98, 7:00 pm
Ken Koury Kenneth P. Koury, Esq.

Chap. 7 won't help

A chapter 7 will not save your home or car if you are behind in payments. You need to find out if you qualify for a Chap. 13 and, if so, switch to one right away.

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Answered on 3/04/98, 11:10 pm


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