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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » How do you keep your home when filing medical bankruptcy? Chapter 7 or 13?

How do you keep your home when filing medical bankruptcy? Chapter 7 or 13?

We are in the process of closing on our first house and don’t want to mess this up. My husband is being forced to file bankruptcy soon on ONLY medical bills. I don’t know if the bankruptcy should be filed just after closing to prevent a lawsuit from one of the creditors or if we should just go to court and settle the bankruptcy after a judgment has been passed. If we filed chapter 13 bankruptcy, what kind of percentage of the total bills do you usually have to pay on medical bills; or does it depend on your income and expenses? Help please! Also, will our credit cards (which we do NOT have a problem with) be taken away from us?

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5 Responses to "How do you keep your home when filing medical bankruptcy? Chapter 7 or 13?"

  1. Trish L says:
    hi, you can try this resource , it has answers to many credit and bankruptcy problems

    have a great day!

  2. STEVEN F says:
    Talk to your bankruptcy attorney BEFORE you close. It may not be legal to buy a house and file bankruptcy so close together. If the mortgage lender is not aware of the bankruptcy, you could be accused of FRAUD in obtaining the mortgage. If they do, your mortgage may be withdrawn. Generally, you do NOT have the option to bankrupt SOME of your debt, you must either include ALL debt in the bankruptcy or not declare bankruptcy.
  3. SCH says:
    OK…you cannot just file on medical bills…you file on your debts as a whole and then you reaffirm on the debt you wish to keep, ie house, cars, credit cards you do not get to keep…they close your accounts as soon as they recieve notification of filing. You can’t hide debts because your credt report is pulled and they know what you have and don’t.

    If your husband is able to purchase a home, he will not qualify to file bankruptcy. If he files he can have unsecured debt wiped away, but if you are a guarantor on the debt (with medical bills you are automatically a guarantor of your spouses debts, if you are on any of his credit cards they can come after you for those too.

    Another problem is you cannot get credit immediatly prior to, during, or after bankruptcy (after for obvious reasons, your credit is trashed). If you get it before it proves you have decent enough DTI to pay your bills, and during because it is against the law.

    If you still wish to proceed I would seriously consider taking a consultation with a lawyer. You will have many problems if you do this and you need to be aware of them all, especailly if you are not considering filing…you would wind up being the credit provider for not just yourself but for your hubby too (meaning house in your name, all cars, all credit cards, ect)…and that could inturn destroy your credit.

  4. NEgurl says:
    Why on earth are you buying a house when you are so far in debt? Keep in mind the additional costs of home ownership add on an additional 30%. It seems like you would just be making things even worse.
  5. 84purpleshovel says:
    If you are going to go thru all the hastle of filing bankruptcy you may as well put everything you can on it. Get rid of most of your credit cards and keep 1 or2. Wait til your house closes. You don’t want any problems there. They let you fill out the paper of which bills to file on. It’s your choice. You don’t have to pay any % of anything. None of this depended on income or expenses I don’t think

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