My mom just filed for chapter 13 bankruptcy. Can anything be done about it?

My mom recently filed for chapter 13 bankruptcy because of various bills totaling around $75,000. My dad passed away in 2007 and he was the one that stayed on top of the main bills such as house payments, taxes, home owner's insurance, etc. With him gone, she lost control of her spending and married a man who

My mom recently filed for chapter 13 bankruptcy because of various bills totaling around $75,000. My dad passed away in 2007 and he was the one that stayed on top of the main bills such as house payments, taxes, home owner's insurance, etc. With him gone, she lost control of her spending and married a man who does not work and shares the same terrible spending habits. Her home is paid off and she lives in Virginia. She has to pay $620.00 a month for the next 5 years and I know she wont be able to do it because she's already behind on her home taxes and home owner‘s insurance. Can anything be done about this or is she locked into this bankruptcy since she already started it?

Best Answer:

Victor: Can she change her mind and withdraw the petition? Yes. Can the chapter 13 be converted to a chapter 7? Yes, If she qualifies or defaults on the original plan. Many personal bankruptcies end up this way.

You can't do anything about this. Only she can decide what she wants to do.

Other answer:

Victor:
she can refile for Chapter 7 and she will probably lose everything she has, if she cant make the payments on the house and provide insurance she will lose it to the bank
Jason:
Why not do chapter 7.
Daniel:
Your mom should take chapter 7. That would be best for her.
Financial Planning Pro:
Look into modifying the plan to see if you could lower the monthly payment or convert the chapter 13 plan to a chapter 7 plan, but then she would have to sell the house. She should pay her taxes, if possible or prepare to sell the house. http://bit.ly/2gTu1RF
Ricki:
You can withdraw a BK filing.
Donald B:
She has done it to herself and there is nothing you can do except learn from her mistakes
Judy:
Don't know what you mean by "be done about it". To srop her from filing? Not if she's mentally competent.

Leave a Reply

Your email address will not be published. Required fields are marked *