Can You Sell Your House While Your Chapter 13 is Active

Yes you can sell your house while your Chapter 13 is active but be prepared to explain in detail why you want to make this change and how it will affect your monthly budget. #chapter13 #atlantabankruptcy
Chapter 13 is a payment plan and it works best when your income and expenses are stable throughout the five year term of most Chapter 13 repayment plans.
But, life happens and sometimes it is necessary to move for a new job, because of a change in income or because you need different living arrangements.
In order to sell a home while in Chapter 13 you will need to explain the reason behind your request and present estimated changes to your budget to the trustee, and you will need to present your proposal to the bankruptcy judge. If your proposal calls for a reduction in Chapter 13 payments or a reduction in the percentage repayment to unsecured creditors you will have to service notice on your creditors and give them an opportunity to object.
Assuming the numbers work, you should be able to resolve any concerns from the #chapter13trustee and it is likely that the #bankruptcyjudge will approve your proposed sale. However, assume that the approval process may take several weeks and also assume that your attorney will ask for an increase in fees that are being paid through your Chapter 13 plan.
Ginsberg Law represents clients in both Chapter 13 and Chapter 7 bankruptcy and if we can assist you please do not hesitate to call.
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Do you have a video about what happens if I filed chapter 13 in 2022, and got in a car accident in 2023 and can't work, will the trustee take any settlement I get for my misses wages? Thank you.