Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » Are there any programs available with the stimulus bill to help people in chapter 13 bankruptcy?

Are there any programs available with the stimulus bill to help people in chapter 13 bankruptcy?

I have enough equity in my house to refinance and pay my chapter 13 bankruptcy but is there anyone out there willing to give me a loan. I have been paying on my bankruptcy for three years and am ready to start rebuilding my credit.

RELATED POSTS:

  1. What happens to my medical insurance if I file chapter 7 bankruptcy and include a bill from that carrier? I have Kaiser and need to keep my coverage because I may not be approved if I try to reapply...

  2. The Advantages of Chapter 7 Bankruptcy If you are going through a financial crisis you may feel like you are running out of options to make...

  3. Steps to Take Before Filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy in Tucson Steps to Take Before Filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy in Tucson Bankruptcy is a legal proceeding...

  4. What is a Chapter 7 Bankruptcy? – Provo Bankruptcy Lawyers Bankruptcy Lawyers Provo Utah. Visit www.ProvoUtahBankruptcyLawyers.com or call us at (801) 701-2030 for more information about filing bankruptcy in...

  5. Can a person going through chapter 7 bankruptcy get a loan to buy a new or used car? I am going to be going through chapter 7 bankruptcy next month (November). My car has 70,000 miles and it...

Written by

Filed under: Bankruptcy Help · Tags: , , , , , , , ,

2 Responses to "Are there any programs available with the stimulus bill to help people in chapter 13 bankruptcy?"

  1. Ed Atun says:
    The program has not been passed but is being debated. It would allow your bankruptcy judge to “cram down” your home mortgage from $200,000 to $100,000 with no penalty to you. The payments would drop in half..
  2. Jeffery S says:
    If you’d continue making timely payments on your bankruptcy your credit score would improve gradually. But with a low credit score nobody would dare give you a loan!

    Now coming down to your point, lets get one thing clearly-

    The chapter 13 bankruptcy reform is different than the stimulus bill. The former allows the bankruptcy courts to alter home mortgage terms in order to ensure a fixed rate for the home owner. The full term gets expanded to 40 years and balance is now equal to the house worth. The taxpayers are not needed to pay anything and there aren’t any chances for anyone to pull the taxpayers’ money for personal benefits.

    The stimulus bill is certainly way ahead being the single largest money disbursement ever.
    It’s a package to lower payroll tax worth $400 for individuals and worth $800 for couples. In a way it is meant to create more than 3.5 million opportunities for the unemployed. Though it’s reflecting more government expenditure it is aimed at reducing the tax burden for buyout firms who’re trying to reshape debt and are not filing for bankruptcy! So, you can easily understand the differences and how it has got nothing to help you in chapter 13 bankruptcy.

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player