Question:
Today my house went under foreclosure. I want to file chapter 13 tomorrow with the clerk of court, but I need to know if I qualify. The only income I receive right now is worker's comp. ($896 mo.) after a injury at work, and $620 ssi(for a child). October I should be released back to work, but in the meantime if this is my only income and my mortgage is $1334 a month and I'm $5336 four months past due, will the bankruptcy court throw out my petition for chapter 13 based on the fact that right now I don't make enough money? Or will they understand that this is temporary and allow me to get back on my feet? In order to file bankruptcy you have to have income is worker's comp. consider income or am I in major trouble.
Please help, right now I feel distraught.
If the house was foreclosed today you're too late. You have to file bankruptcy BEFORE the foreclosure.
Worker's comp is NOT considered a true income. Its a non taxible insurance check. I know this because i can't currently refinance my own home due to my husband being on work comp. Also you have to file your bankruptcy before foreclosure is filed.
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