answersLogoWhite

0


Best Answer

You can file for a Chap 13 to be "dissolved". Although it is probably too late for that in your case, as you are already in default. Not knowing the exemptions allowed in your state, it is difficult to say what will happen to your house. You need to consult with a BK attorney ASAP. Preferably the one who handled the original filing. I don't understand why you did not file another 13, or ask that the original one be modified. Just double up on your payments till you get caught up, Or contact your attorny.

User Avatar

Wiki User

19y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What do you do if you are in chapter 13 and are behind on your trustee payments?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

If behind on Chapter 13 payments can a dismissal be prevented or reversed if payment is made for past due amount?

It can't be reversed, but if it is dismissed without prejudice, you can refile a chapter 13 six months from the dismissal date. The best option is to meet with the trustee to discuss the problems with the schedule that the person now has to see if it can be modified.


If you owe a thousand dollars to chapter 13 but are behind paying what will happen if you do not pay?

The trustee/bankruptcy court can dismiss the chapter 13. Creditors would then be able to pursue collection including filing a lawsuit.


Can you refinance in chapter 13?

Yes. If you have had 12 months of on time payments to the truste and your mortgage has been paid on time,While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.


Would you be asked to put a mortgage on your house to pay your bills if you file for chapter 7 bankruptcy?

No. But if you have equity in your home it may not be the best approach. A chapter 13 is designed for a situation where the person has equity or is behind on payments. In a Chapter 7 - You will be asked to pay the Trustee the value of the equity of your home... so if you have $15,000 in non-exempt equity, you'll most likely have to write a check to the Trustee for $15,000 or surrender the home. no ,but if you include the Mortgage on your property in your bankruptcy,most likely you will have to surrender the property to a court appointed trustee


What can you do if you are in Chapter 13 bankruptcy but still cannot manage your mortgage payments?

The only viable option would be to discuss the matter with the lender and hope that an equitable agreement can be made. In lieu of such, the petitioner should contact the BK trustee to find out if the Chapter 13 can be modified.

Related questions

What is a Chapter 13 trustee used for?

Chapter 13 trustee is an entity, generally an individual, with the responsibility of managing a chapter 13 bankruptcy estate. The Chapter 13 receives the debtor's monthly payments and then distributes those funds proportionally to the debtor's creditors.


Can you ask for a voluntary dismissal if your chapter 13 trustee has already asked for a dismissal for missed payments?

yes.


What happens if you file chapter 13 and defaults on payments?

The trustee will file a motion to dismiss to get your BK case thrown out.


Chapter 13 bankruptcy be dissimisal?

You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.


What chapter should you file if you are behind on your mortgage?

only in chapter 13, you cannot use chapter 7 to catch up on past payments.


If behind on Chapter 13 payments can a dismissal be prevented or reversed if payment is made for past due amount?

It can't be reversed, but if it is dismissed without prejudice, you can refile a chapter 13 six months from the dismissal date. The best option is to meet with the trustee to discuss the problems with the schedule that the person now has to see if it can be modified.


Can chapter13 mortgage payments be modified?

Chapter 13 mortgage payments can be modified. The trustee must agree to new terms before a modification can be approved. However, a lender can object and appeal the modification.


What happens to the money you did pay to chapter 13 trustee and could not keep up payments?

They are considered "lost", you will not get that money back, but your debt to the individual creditors will be reduced by what they had received in 13 BK.


If you owe a thousand dollars to chapter 13 but are behind paying what will happen if you do not pay?

The trustee/bankruptcy court can dismiss the chapter 13. Creditors would then be able to pursue collection including filing a lawsuit.


Can you refinance in chapter 13?

Yes. If you have had 12 months of on time payments to the truste and your mortgage has been paid on time,While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.


Would you be asked to put a mortgage on your house to pay your bills if you file for chapter 7 bankruptcy?

No. But if you have equity in your home it may not be the best approach. A chapter 13 is designed for a situation where the person has equity or is behind on payments. In a Chapter 7 - You will be asked to pay the Trustee the value of the equity of your home... so if you have $15,000 in non-exempt equity, you'll most likely have to write a check to the Trustee for $15,000 or surrender the home. no ,but if you include the Mortgage on your property in your bankruptcy,most likely you will have to surrender the property to a court appointed trustee


What are the types of files?

It depends on if its for an individual or business. For an individual there is Chapter 7 and 13. In chapter 7 you will basically repay your debt at a reasonable amount to a trustee over the course of 5 years. In Chapter 13 your assets, (home car) are safe as long as you make the payments to the trustee. In Chapter 7 basically every debt is wiped out (but you'll take a big hit on your credit score) and your assets are not safe. A trustee can order your assets (car,home) to be sold to pay off your creditors.