Posted by: admin in chapter 13 bankruptsy rules on
burnettbeth asked:
I have researched bankruptsy and understand that i would make payment arrangements and still pay my bill within three yrs. My question is i have hear that you still have to pay the principle on your house and car but you no longer have to pay the interest. For example, on my 50,000 dollar mortgage, would i still end up paying 100,000 over 30 yrs or would i only owe the flat 50,000 and then be done. Cant find any info on this anywhere. Thanks Beth
I have researched bankruptsy and understand that i would make payment arrangements and still pay my bill within three yrs. My question is i have hear that you still have to pay the principle on your house and car but you no longer have to pay the interest. For example, on my 50,000 dollar mortgage, would i still end up paying 100,000 over 30 yrs or would i only owe the flat 50,000 and then be done. Cant find any info on this anywhere. Thanks Beth