Legal Question in Bankruptcy in Texas

should I make mortgage payment pending bankruptcy filing

I am three payments behind on my mortgage. The mortgage company is badgering me and showing little flexibility. I offered two payments within thirty days. They said they would require 4 payments at that time. Not feasible for me. I threatened bankruptcy since my credit sucks anyway and I do not want to risk not being able to get another mortgage. I need the mortgage due to tax bracket (36%). I hope they will negotiate but I am serious about filing bankruptcy if they do not. Should I make a payment pending the filing or wait until this shakes out either through negotiations or bankruptcy filing? Thanks for any help.


Asked on 1/01/02, 11:16 pm

1 Answer from Attorneys
Lawrence Maun Lawrence J. Maun, P.C.

Re: should I make mortgage payment pending bankruptcy filing

An evaluation of your total financial condition is necessary to make a reasonable respnse. If it is assumed that you want to keep your house and that you have other debts on which you are delinquent, or will shortly beome delinquent, you may be a candidate for a Chp 13 bankruptcy. In that event you would file a Chapter 13 plan where you would make your house payments as they become due and in addition pay some sum per month on your delinquent house payments so that they become current within three to five years. You ould pay interest on the delinquent payments, unitl paid. If your financial situation is evaluated and it determined that a bankruptcy filing is appropriate I would recommend that you not make your next payment, but that recommencdation would only be after a full evaluation. Larry Maun 713.266.2560

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Answered on 1/01/02, 11:49 pm


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