Q: If I stop making my chapter 13 payment, what happens and how long would it take.
I have decided to sale my house and pay the chapter 13 in full. However, I need to use the money I would normally make my payment with to make home improvements.
A:
File a modified plan, providing for the sale of your home and the revised payment of your creditors.
Keep in mind that you have the right to keep exempt property, or the proceeds therefrom.
Talk to your bankruptcy lawyer about these issues.
If you do not modify your plan to authorize the sale of your house, any buyer would probably refuse to complete the sale.
Timothy Denison agrees with this answer
A: It depends on how long you don't make payments on the chapter 13 before the trustee would file a motion to dismiss or the mortgage company would file a motion to lift stay. I would consult with an attorney in your area as all Trustees are different. He/She would know how long you could safely go without making a payment. Good luck!!
Timothy Denison agrees with this answer
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