and then ended up with A LOT of medical debt. We filed a Chapter 13, in which we were both making payments directly out of our paychecks, but then he was laid off from his job and we ended up losing the car because we could not afford to make the payments towards the bankruptcy out of his unemployment checks. He was out of work for several months. This was back in 2002. We are still struggling. Even MORE medical debt, funeral expenses for a baby girl we lost last year, medical bills from the premature birth of our son 3 years ago, surgeries, etc. Now just last week we found out that my mother in law has cancer. She owns a duplex (She lives in one side and we rent the other from her). We want to do a lease option, but we know that we would not qualify for a loan in 2 years when the lease agreement would be up. If we were to file for a chapter 7 now and go through the 6 months of financial counseling (New laws) would we be able to qualify for a loan on what the balance was.
2007-08-26
22:35:40
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4 answers
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asked by
Ryan's mom
7
in
Renting & Real Estate