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    desves's Avatar
    desves Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Mar 8, 2009, 09:58 AM
    To file or not to file
    We have filed chapter 13 only to find out that our payments are higher than what the mortgage payment was because of arrears added in. we couldn't make the payment then so why do they think we can make it now, how can we get our payments lowered so we can keep our home. If we could get it down just a couple 100 dollars we would be OK
    Our mortgage co. wamu said they would work with us, well I don't think wanting 2 payments a month to get caught is any help at all, they acted like we were taking money from the people we were talking to. Our credit is in the 400's because of hardships we have had. Is there anything anyone knows that can help us. Not sure if mortgage co can help or not!
    donf's Avatar
    donf Posts: 5,679, Reputation: 582
    Printers & Electronics Expert
    		  
    #2

    Mar 8, 2009, 10:36 AM
    The only prudent thing to do is to contact your bankruptcy attorney and ask him to contact the bankruptcy commissioner to have him reconsider the payment amount.

    You can also file for chapter 7 protection and reaffirm on the home.
    desves's Avatar
    desves Posts: 6, Reputation: 1
    New Member
    		  
    #3

    Mar 8, 2009, 10:42 AM
    Quote Originally Posted by donf View Post
    The only prudent thing to do is to contact your bankruptcy attorney and ask him to contact the bankruptcy commissioner to have him reconsider the payment amount.

    You can also file for chapter 7 protection and reaffirm on the home.
    Thank you for the response, bankruptcy lawyer said we make too much money to file a 7
    She also told us we had to keep the same payment that we were paying. Does that soundright to you? I thought bankruptcy was suppose to help. This is also going to go up because of all the credit cards we have the creditors are going to come in on there money
    donf's Avatar
    donf Posts: 5,679, Reputation: 582
    Printers & Electronics Expert
    		  
    #4

    Mar 8, 2009, 11:10 AM
    I'm not an attorney but the purpose of bankruptcy is to protect the petitioner, not the creditors.

    The amount of money you make is irrelevant. It's the income to debt relationship.

    People making millions of dollars a year can declare bankruptcy, why can't you.

    Have you sought a second opinion? I know bankruptcy rules have changed, but the concept of making a payment that is more than you can afford and higher than the current aggregate of your monthly bills creates more problems than it fixes.

    The chapter 13 payment should be less than your combined monthly payments.
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