MY HUSBAND GOT EXTREMELY SICK AND WAS FORCED TO LEAVE HIS JOB. AFTER SEVERAL MONTHS OF BEING OUT OF WORK, HE FINALLY GOT SOCIAL SECURITY DISABILITY. CAN YOU HELP US SAVE OUR HOME?
The whole purpose of the law is to help honest people, who through no fault of their own, got into financial problems.
In this situation, the lady, a 45 year old from Deptford, recently had a Chapter 13 case dismissed since her husband had all these medical problems which resulted in the last case not succeeding.
Each Case is Treated Differently
Even though the law takes a harsh position when a case is dismissed within the past year, the Judges are sympathetic to problems that people go through, especially medical problems.
If people can’t explain why their last case did not succeed and have no true change of circumstances, then a Judge will not be likely to give the person another bite at the apple.
However, when someone suffers extreme medical issues which caused financial hardship, then that is a true change of circumstances, especially if they are getting income now which they did not receive in the past.
Another Chance to Save Their Home
Thus, if the couple here has the money to fund the plan to cure all the past mortgage arrears, they will be given another opportunity to save their home if they can either make their future mortgage and trustee payments or if they obtain a loan modification, which can never be guaranteed.
If, on the other hand, the client is realistic about their finances and knows that they can’t afford the home, plus there is no equity, they should consider doing a Chapter 7, getting a fresh start and walking away from all their debts. However, with a Chapter 7, they will eventually lose their home.
Find Out Your Options
Thus, whatever your circumstances are, contact TAIEBLAW at 856-235-4994 to learn your options.
Steven N. Taieb, Esq. has been a South Jersey Bankruptcy Attorney for over 34 years and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.