Choctaw Beach, FL Bankruptcy Law Firms & Lawyers

If you are still in bankruptcy you can convert your chapter 7 to chapter 13. If you are in chapter 13 you can convert to chapter 7. Consult an attorney as to the specific facts in your case.

Question: Can I quit my job to file bankruptcy if my employer promises me the job back afterwards? *- that stinks of trying to defraud the bankruptcy court; I'm not sure I'd recommend taking that action * Question Detail: I mentioned to my boss and he asked when I would want to take it over again. *- your last six months of income from the immediate 6 month period preceding the month of filing are what the court looks at to determine eligibility under the MEANS TEST for a Chapter 7; not having any income would DEFINITELY hurt you if you wanted to file a Chapter 13 because you'd have no disposable monthly income to support a confirmable plan. *

The HELOC can be discharged by a Chapter 7 bankruptcy but don't expect the lien or 2nd mortgage associated with this loan to disappear with your discharge. In order to remove the lien, you would have to pursue a Chapter 13 bankruptcy with a lien strip. Another option could be to discharge the debt in the Chapter 7 and see if the lien can be settled down the road with a lump sum payment. Completing a Chapter 13 lienstrip would be a certain way to eliminate the HELOC lien, the other option involves risk as there is no guarantee of results. You will want to consider what you can afford and how much risk you feel comfortable taking.