bankrupt's7/13 will it stop interest on home loan and reduce the amount?

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bankrupt's7/13 will it stop interest on home loan and reduce the amount?

2006-08-15 19:38:49 · 2 answers · asked by sj 1 in Business & Finance ➔ Personal Finance

2 answers

no.
7 or 13 deal with the debt at the time of filing. past due amounts will be included but future payments still are due.
new banruptcy laws may exclude 7, depending on income. your best deal would be to re-finance after you file. creditors know you can't refile fo 6 years, if you don't pay they will win, easy to get credit for the first 3-4 years after you file. good luck.

2006-08-15 19:47:14 · answer #1 · answered by sllyjo 5 · 0⤊ 0⤋

No...it wont

2006-08-16 07:42:53 · answer #2 · answered by hen d 2 · 0⤊ 0⤋