Q: if I file for chapter 13 in Texas (from lack of employment) how can I save my house and automobile, or do I loose them?
Do the house/car payments get adjusted and if so, how does it work and for how long do the payments get lowered?
A: You probably wouldn't file a chapter 13 if you have no income. House and car may be exempted somewhat in a chapter 7. You need to speak to an attorney about your specific situation, as an answer on how to proceed depends on many factors.
A: If you have no Income, Chapter 13 won’t work bc it is a repayment plan. You may be able to claim exemptions on the house and cars. Talk to an experienced bankruptcy attorney in your area and learn your options before you do anything else.
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