Legal Question in Bankruptcy in Illinois

I started my chapter 13 bankruptcy because of my house payments got behind and now I can afford to pay my arrears ,can I convert my 13 to a 7 and reaffirm on my house? we only have one other secured loan and I can scrape enough to pay that one to if need be, but all the others are unsecured creditors and we would be current with all other secured loans. It that makes me think it would be possible to convert our 13 to a 7 and reaffirm our loan with our mortgage holder. Our payments would then go to 292 house 73 insurance and 78 taxes instead of 1000 a month.


Asked on 2/07/15, 2:20 pm

1 Answer from Attorneys
Henry Repay Law Offices of Henry Repay

You are not seeing responses because there is too much to consider in order to make a determination. See your Chapter 13 attorney or, if none, set a consultation with an area bankruptcy attorney. It will be well worth your while to have someone look at the options in detail.

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Answered on 2/08/15, 9:41 am


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