How long after filing a chapter 13 is it place on all 3 bureaus? And if I filed, once I raise the money I need for the mortgage company can I dismiss the chapter 13. If I owe the mortgage 10k and that's the only thing in the plan, and I send the mortgage company the arrears will they just withdraw their claim and the bk will dismissed by the court?
It is still a matter of public record that you did in fact file for a BK. The fact that it is dismissed , denied, or granted does not change the fact that you filed. CRAs can still report that public record
I am not an expert, maybe someone here knows better than I but I believe even if your bankruptcy is dismissed or discharged the fact that you even filed for bankruptcy is a public record that can be reported for 5 or 7 years since the date the petition was filed
(not a lawyer here - just personal experience/knowledge) First, if you could raise that kind of money, why didn't you do that before you got $10K in arrears? Anyway, your chapter 13 will contain a repayment plan for ALL your creditors. If you raised the $10K, you would be obligated to report that to the trustee who would disperse it according to the plan. If that pays off your plan, you would be given your discharge. (discharge being preferable to dismissal. Dismissals are usually for non-payment so are looked upon as if that was your reason - regardless.) You cannot raise that $ and pay the mortgage company outside the plan. That is BK fraud. Hope that answers your question.
A DISCHARGED BK 13 will haunt you for 7 years, a DISMISSED will stick it to you for the full 10. If your going to do it, everything will have to be included. Preferential payments to your creditors will not be allowed by the court. 10K is a small amount to justify BK, but if that is what it takes to save your house, I'd do it.
I guess I forgot to mention that I have some of the money, but not all of what the mortgage company wants to start a repayment plan. So I'm just concerned that if I don't have all of the money by the time there is a sale date, I would file to save my home. I'm not trying to commit any crime. I'm trying to pay as quickly as I can. And if all else fails and I have to file, I want to end it as quickly as possible so to start rebuilding my credit. Just so you'll understand a little better. When I iniatially contacted the mortgage company for a workout plan, I was told that since my account was not in foreclosure that my upfront funds would be 35%. But I was also told that I could not send funds prior to having a counselor contact me with a workout plan. Apparently their attorney charges by the day because the amount that I was given after waiting 3 weeks for someone to call, was different from what I anticipated. So when I did get a call they gave me 10 days to come up with the money. I could not come up with the amount and I was told that that plan would be closed out and I should write a short note stating that the could not meet the requirements of that plan by the deadline, and in turn a new plan would be iniatiated. BUT sometime in between the account was sent to the foreclosure department. Therefore upfront funds are higher. I may be over reacting. Perhaps I have a little more time than I think, but I don't know for sure. So I'm just doing a plan B. I'm not trying to commit ANY type of fraud. Just wanted some advice, thoughts, perhaps information on what others may have experienced.
There aren't any other creditors to include. Just the mortgage. Does anyone know anything about companies that claim they can get mortgage companies to accept repayment plans and stop foreclosure.
