Thanks for this board, everyone. I have questions, because I may need to file.I own a 1.5 year old house that has no equity. I have a car that I owe 6000 dollars on, 1 home equity loan that is at 4700 (15.5 interest), one unsecured loan at 15%, plus credit cards and student loans that are under CCC care. Now that I have that said, I also have to start taking a $245 per month medicine (my insurance only cover 70% of the cost.) I"m working with the company to be sure I can get it AND afford it. I had to go under their financial plan, and want to pay $150 per month until I get stuff paid down.What should I do? I do NOT want to lose my house, because right now, I love it, and I live 40 miles from work, so I can't lose my car. I'm considering Chapter 13 in order to restructure EVERYTHING into one easy payment.Help?Heather
Chapter 13 and one easy payment is like the old joke about military intelligence. It's a contradiction in terms. I would advise you to see a lawyer and find out exactly what chapter is right for you. With no equity in the home and a $4k or so HEL, you are probably still under the amount of equity your state says you can keep in bk. You may well be able to file a 7 as opposed to a 13 and I'd recommend you do so if possible. This sounds pretty rountine. Most lawyers give free initial consultations. Go see one and lay out the whole picture for them and see what they recommend.
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