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    azulita's Avatar
    azulita Posts: 1, Reputation: 1
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    #1

    Mar 13, 2008, 01:44 PM
    Selling my house before filing Chapter 13
    I'm about to file Chapter 13 I do have some equity in my house, I know if I sell my house after filing Chapter 13 I need permission from the court but what if I sell it before I file, do I still qualify to file Chapter 13, I don't want to use that money to pay my debts I won't be able to cover them all,I want to use it for something else. Thanks
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #2

    Mar 13, 2008, 02:26 PM
    I'm sorry, do I understand that you could sell your home, make a profit, and meet some of your current obligations with that money?

    But, you would rather be able to back out of the obligations you made with people who trusted you with the money they loaned you, and keep the money from the sale of your home to use for other stuff?

    Yeah, I thought that is where this was headed.

    Sorry, can't help you with that.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Mar 13, 2008, 02:38 PM
    Let me see you want to take money and not pay people you legally owe ?

    If you sell it very soon before filing, you will have to justify to the court what you did with the money, If I remember correct they ask you any time in the last year did you sell any property.

    So you will have to justify any money you did use to pay your bills.
    Remember the creditors will be looking for a way to disqualify you, so they can force you to pay.

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