unemployment bankruptcy
if you have had a dismissed chapter 13 bankruptcy..is it wise to then file chapter 7 if your home foreclosed?
it appears the damage has been done and now on unemployment..is the bankruptcy now invalid
Well, what you are asking for is legal advice, and you should be getting your legal advice from your attorney, not from complete strangers on the Internet.
If your Ch 13 was dismissed you may or may not qualify to file Ch 7 at this time. You would have to pass the means test, and remember, the means test looks backwards at the past 6 months of income. So if you just recently got laid off, and didn’t qualify to file Ch 7 while you were working, you may have to wait several months until your average monthly income is low enough to qualify for Ch 7. (Your attorney should be able to run the numbers for you and let you know whether you qualify.)
If you live in a state where you are liable for any deficiency after the foreclosed home is sold (and that depends on your state – some states explicitly do not allow lenders to recover deficiencies from borrowers, though most states do) a Ch 7 could discharge your liability for any deficiency. However, the WISDOM of filing a Ch 7 in your specific circumstances is absolutely a question asking for legal advice — and any attorney offering such advice on this kind of a forum would be disbarred, while any non-attorney offering such advice, well, shouldn’t be.
Make an appointment either with the attorney who filed your Ch 13, or with another local bankruptcy attorney, to get real advice from a real lawyer.
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