Can a Chapter 13 bankruptcy wipe out a second or third mortgage?
No. A Chapter 13 bankruptcy will not affect a second or third mortgage. Just as with the first mortgage, the second and third mortgage payments must be made in the exact amount called for in the respective promissory notes. Who can file for Chapter 13 bankruptcy? Only individuals may file a Chapter 13 bankruptcy. Partnerships and corporations cannot file a Chapter 13 bankruptcy. Legally married persons may file together (which is called a “joint bankruptcy”). Married persons may also file individually, if they so desire. Do I need an attorney to file Chapter 13 bankruptcy? No. The law allows you to represent yourself if you so desire. Can I file a Chapter 13 bankruptcy to delay a creditor? No. Rule 9001 of the Rules of Bankruptcy Procedures requires you or your attorney to certify that the bankruptcy is not filed for any improper purpose such as to harass or to cause unnecessary delay. You should not file a bankruptcy petition if the sole purpose is to delay a creditor’s actions. How d
