Legal Question in Bankruptcy in Pennsylvania

Would bankruptcy help me?

I have a really high morgage payment and I gotten behind on it. I had asked the state Hemp program for help and they gave me a second loan to ''catch up'', Now I have not had enough money to pay them and the original morgage. so I am months behind on both payments. The only other debts I have are furniture payments, and a high legal bill from a custody battle. I am working and barely make ends meet without the morgage payments, I talked to one attorney that said I would have to give up my house.. would filing bankruptacy help me or do I surrender my home?. I am a single mom with 5 kids in the home and have nowhere to go. please help.


Asked on 10/06/02, 10:28 pm

2 Answers from Attorneys
Andrew Nichols Law Office of Andrew B. Nichols

Re: Would bankruptcy help me?

I would recommend you at least try to save your home by filing for bankruptcy relief under chapter 13. Under chapter 13 you would "reorganize" your debts. Basically you have the ability to take the past due home mortgage payments (the HEMP debt also) and make payments over 3 to 5 years to get caught up. The other debts you mentioned would probably be eliminated or substantially reduced. However, the delinquent amounts you owe on the home loans cannot be erased. In addition you must be able to start making your regular mortgage payments each month in addition to the bankruptcy "catch up" payments. I hope I am making this clear. Please feel free to call me personally and I would be glad to discuss your particular situation in more detail. ph. (800) 303-0720

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Answered on 10/07/02, 2:03 pm
Stanley Fudor Law Offices of Stanley Fudor

Re: Would bankruptcy help me?

The problem with a Chapter 13 filing is that you have to be current on your home payments otherwise the plan probably will nor be approved. It might be best to file for bankruptcy eliminate some if not all of your liabilities and start a new.

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Answered on 10/07/02, 6:22 pm


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