Chapter 13 with a Judgment Lien, HOA Lien, or Child/Spousal Support
Chapter 13 can work much better than Chapter 7 if you have a judgment or HOA lien on your home, or get behind on child or spousal support.
Chapter 13 with a 2nd Mortgage, Property Taxes, or Income Tax Lien
Chapter 13 can work much better than Chapter 7 if you have a second mortgage, get behind on property taxes, or have a tax lien on your home.
Chapter 7 with a Judgment Lien, HOA Debt, or Support Obligations
Here are 3 more scenarios for when you are current on your mortgage, where Chapter 7 works well in dealing with other home-related debts.
Your Paid-Current Home Mortgage in Chapter 7 and 13
There are scenarios when you are current on your home mortgage and are dealing with other home-related debts where Chapter 7 works well.
Your Home Mortgage in Chapter 7 and Chapter 13
Here are 6 ways filing a Chapter 7 case can help you deal with your home lender and related debts, and 6 ways filing a Chapter 13 one can.
Simple and Not-so-simple Debts in Chapter 7 and 13
Very broadly speaking Chapter 7 handles simple debts as well or better than Chapter 13 does, which handles more difficult debts better.
The Automatic Stay in Chapter 7 and 13
Filing a Chapter 7 or 13 case both stop creditor collection actions against you just the same. But after that the differences are huge.
Using Time to Your Advantage in Chapter 7 and 13
Chapter 7's big advantage is that it's quick. Chapter 13's big advantage is that it buys you more time to do what you want or need to do.
Keep an Open Mind about Chapter 7 or 13
Here's an example why to keep an open mind about filing under Chapter 7 vs. Chapter 13. Slightly different facts can make all the difference.
Chapter 7 or 13? You May Be Surprised
Chapter 7 takes about 4 months, while Chapter 13 takes 3 to 5 years, and likely costs more. But that doesn't begin to answer which is better.
Chapter 7 Prevents Judgment Liens on Your Home
Filing a Chapter 7 case stops foreclosure of your home temporarily, helping you gather funds for your transition to your next housing.
Chapter 7 Buys Time and Money to Move from a Foreclosing Home
Filing a Chapter 7 case stops foreclosure of your home temporarily, helping you gather funds for your transition to your next housing.
Chapter 7 Buys Time to Change to Another Vehicle
Filing a Chapter 7 case stops repossession of your vehicle temporarily. If you are getting another vehicle, that can be valuable time.
Chapter 7 Buys Time to Redeem Your Vehicle
If your vehicle is worth less than its debt, and you can get the money representing that value, you can "redeem" the vehicle free and clear.
Chapter 7 Buys Very Short Amount of Time to Get Vehicle Insurance
Chapter 7 stops a repossession of your vehicle for lapsed insurance, but almost always the amount of time it buys you is very short.