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lien on house taken for car
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Posted by rockbottom
(64.147.34.191) on February 20, 2004 at 13:00:39:
What do you do when you release the stupidity of letting the bank put a lien on your house to secure the car? The banker said it was just a "formality" and just "a piece of paper", but now that I'm preparing for BK I discover that regardless of what I do with the car I have to pay the loan or lose the house. I guess the banker saw me coming--silly me I thought he was a nice guy and he turns out to be a snake! I feel so foolish!! I can't even face my spouse. The attorney says that going CH13 will spread the payments out over 5 years, but then only part of what I pay each month goes to the car payment. So I can either pay the car payment for 30 months, or pay the same amount to the court for 60 months. Man did I blow it! I'm having trouble getting past this feeling of disgust. I was finally feeling better about filing BK and now this. It all seems so hopeless now. My spouse is really going to be angry and the worst part is when you feel the family would be better off without you. I feel so scared and alone I can barely function. Well thanks for letting me vent
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