Legal Question in Credit and Debt Law in Georgia
What is my best course of action? I was discharged from Ch. 13 bankruptcy 1 month ago. I have requested a loan modification. However, the mortgage company's response is to make a payment ( 2 weeks from the date of their letter) and another payment 2 weeks later, then monthly. I cannot afford to do so, and they know this from docs I sent them, showing practically no assets. And I am paid once a month. Is there anything I should do besides a rebuttal requesting more time to pay to avoid foreclosure?
2 Answers from Attorneys
You may need to file a new Chapter 13. Call your lawyer. You should not have completed a Chapter 13 with an arrearage (as a discharge haoppens ONLY with successful completion), so are you sure you actually got a discharge, rather than having a plan fail via dismissal?
You should talk to your bankruptcy lawyer ... however long term, if you cannot afford your mortgage then you have more serious issues. You either need a modification or to refi (which is going to be difficult if you just emerged from chapter 13) or to sell your home or think about letting the home go and getting any deficiency discharged through a chapter 7 (assuming you can re-open the 13 and convert). Bottom line is that if your mortgage falls behind and if you already got a discharge (as opposed to a dismissal) then it is going to be difficult to re-file bankruptcy and get another discharge. Foreclosure in GA is relatively quick.
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