My husband and I are currently 2 1/2 years into a 5 year Chapter 13 payment plan, which gets garnished from my paycheck. Since my husband has been unemployed periodically throughout the years I have been able to prove to myself that I can pay the mortgage, the household bills, and the bankruptcy payment.
Just curious what you would do if you were in my situation. Married 16 years, no kids. However, my husband sees the house at his "safe zone". He's currently unemployed, seeing another woman, comes and goes as he pleases, but can't move out. We're living separately in the house; he's living in the basement of our home and not contributing to any bills (he's receiving unemployment). My atty is still drafting my PSA. I will say that I want this to only last six months and not drag out to a year.
Here are my two options. I will point out that renting a one bedroom apartment where I live is the same, if not more than my mortgage payment. I'm really torn here.
Option 1: Stay in Chapter 13, but file a separate plan from ex-spouse, 2 1/2 years complete out of a 5 year plan, and keep house. First and second mortgage; both are current. There is equity in the home. Will need to refinance the home in my name only.
Option 2: Convert to Chapter 7, surrender house, easier path to a quicker "fresh start"
Thanks!
Just curious what you would do if you were in my situation. Married 16 years, no kids. However, my husband sees the house at his "safe zone". He's currently unemployed, seeing another woman, comes and goes as he pleases, but can't move out. We're living separately in the house; he's living in the basement of our home and not contributing to any bills (he's receiving unemployment). My atty is still drafting my PSA. I will say that I want this to only last six months and not drag out to a year.
Here are my two options. I will point out that renting a one bedroom apartment where I live is the same, if not more than my mortgage payment. I'm really torn here.
Option 1: Stay in Chapter 13, but file a separate plan from ex-spouse, 2 1/2 years complete out of a 5 year plan, and keep house. First and second mortgage; both are current. There is equity in the home. Will need to refinance the home in my name only.
Option 2: Convert to Chapter 7, surrender house, easier path to a quicker "fresh start"
Thanks!
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