Anna B
Palm Desert,#2Consumer Comment
Sat, October 06, 2007
A mortgage company/ loan servicer will not garnish your wages. They will take the house back. It doesn't make sense to try to garnish a borrower for thousands and thousands of dollars when they ( the bank) owns the house. In a chapter 13 you are on a payment plan for the amount of time that the plan is in effect, after that you still owe what you hadn't been paying. So it becomes due. Nothing is "forgiven" as it would be in a chapter 7 BK. You aren't going to get garnished for back payments on a house.
Anna B
Palm Desert,#3Consumer Comment
Sat, October 06, 2007
A mortgage company/ loan servicer will not garnish your wages. They will take the house back. It doesn't make sense to try to garnish a borrower for thousands and thousands of dollars when they ( the bank) owns the house. In a chapter 13 you are on a payment plan for the amount of time that the plan is in effect, after that you still owe what you hadn't been paying. So it becomes due. Nothing is "forgiven" as it would be in a chapter 7 BK. You aren't going to get garnished for back payments on a house.
Anna B
Palm Desert,#4Consumer Comment
Sat, October 06, 2007
A mortgage company/ loan servicer will not garnish your wages. They will take the house back. It doesn't make sense to try to garnish a borrower for thousands and thousands of dollars when they ( the bank) owns the house. In a chapter 13 you are on a payment plan for the amount of time that the plan is in effect, after that you still owe what you hadn't been paying. So it becomes due. Nothing is "forgiven" as it would be in a chapter 7 BK. You aren't going to get garnished for back payments on a house.
Anna B
Palm Desert,#5Consumer Comment
Sat, October 06, 2007
A mortgage company/ loan servicer will not garnish your wages. They will take the house back. It doesn't make sense to try to garnish a borrower for thousands and thousands of dollars when they ( the bank) owns the house. In a chapter 13 you are on a payment plan for the amount of time that the plan is in effect, after that you still owe what you hadn't been paying. So it becomes due. Nothing is "forgiven" as it would be in a chapter 7 BK. You aren't going to get garnished for back payments on a house.