Legal Question in Bankruptcy in New York

dismissed from chapter 13 please help

My husband and I have been in chapter 13 since 2/2003.We filed chapter 13 because our mortgage was in arrears. Due to a shortage in work this year for my husband we have got way behind on the bankruptcy payments.Our chapter 13 is being dimissed.Our lawyer says we should let this happen and refile in 6 months.He also said we should try to work something out with our mortgage lender so that they don't foreclose on the house.We tried this when we first started having problems with the mortgage and they would not do anything to help us. Please help we don't know what to do.


Asked on 11/03/04, 4:05 pm

1 Answer from Attorneys
Frank Loscalzo Law Office of Frank Loscalzo

Re: dismissed from chapter 13 please help

Working with the mortgage company usually does not work, because they want all their money within 12 months. Sometimes some of my clients get better deals, but that is very rare, maybe twice a year.

I am assuming that the Trustee is dismissing your case, and that you have only filed one Chapter 13. If that is the situation you do not have to wait 6 months to re-file, unless your case is dismissed with prejudice. You should review this with your attorney.

Rather than filing multiple bankruptcies, you may wish to sell the house, preserve the equity, and then buy another house, once you and your Husband have stabilized your incomes. (Nobody ever takes this advice � but it is good advice).

Good Luck.

Frank Loscalzo, Esq.

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Answered on 11/03/04, 5:51 pm


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