Your non-exempt equity goes to the unsecured creditor no matter what you do (ch7, ch13 surrender, ch13 keep house, heloc settlement). But ch13 keep house is worse than ch13 surrender / ch7 surrender because you have to pay the ch7 liquidation even if your means test says you cant afford the plan payment. Just give the house up if you have a lot of non-exempt home equity.
![Bankruptcy - [Keeping your House and Car]](http://i.ytimg.com/vi/QspST8Kw4FQ/mqdefault.jpg)
![Bankruptcy - [Keeping your House and Car]](/img/tr.png)
What about if i all i have in debt is a HELOC and my home has plenty of equity. But i can't afford the HELOC payment?
Nothing if you live in FL. We have unlimited homestead exemption. One of the few positives of living here
why not use state laws rather than federal law
Your non-exempt equity goes to the unsecured creditor no matter what you do (ch7, ch13 surrender, ch13 keep house, heloc settlement). But ch13 keep house is worse than ch13 surrender / ch7 surrender because you have to pay the ch7 liquidation even if your means test says you cant afford the plan payment. Just give the house up if you have a lot of non-exempt home equity.
So bottom line... I'm screwed no matter what 🤦♂️
What you own ends up owning you
Games rigged