Q: Filed ch 13 recently but case has not confirmed yet. We're wanting to sell our home and use the equity
To pay necessary debts included in the 13 and move
A: Make a motion to voluntarily dismiss the bankruptcy and then you will be free to do so.
A: It depends whether your house pmt is being paid through the Trustee or not. See you are shortchanging all of your unsecured creditors when you file bankruptcy and it’s the Trustee’s job to look for assets you have that are not claimed as exempt to pay as much toward your unsecured creditors as he can. The bankruptcy code will look backward 180 days and forward for any assets you fail to disclose. Cash from the sale of your primary residence is not exempt. Your best option would be a voluntary dismissal of your petition and using the cash to pay off your creditors.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.