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Reconsidering Chapter 13 Bankruptcy


Reconsidering Chapter 13 Bankruptcy

You may have seen my previous posts if not here is my situation:


I decided to file Chapter 7 in June 2012 after I recieved a 25k judgement on my car that was reposessed in 2011 (layed off so I couldn't make payments). My income drastically changed 45k to 90k so my lawyer changed my filing to Chapter 13. I have my 341 meeting September 10th but I am reconsidering going through with the plan. I think I will be able to pay off my debt in a year or two and don't want to be "tied down" for five years. Me and my wife have 4 children and would like to purchase a house in 3 years.


My questions are:

If I decide to dismiss my bankruptcy will it show as "dismissed"?

Will it drastically change my FICO scores, negat. or posit.?

Will I be able to apply for a mortgage loan with it showing dismissed?


This has been a roller coaster for me and my wife and the paymenst have not even started yet! Smiley Sad

Starting Score: ~494 preChap13 to Chap7 BK conversion (2/21),
Current Scores as of 11/17/16, 602 TU, 642 EX, 589 EQ
Goal Score: 700

Capital One ($800 limit), Cap One Quicksilver ($500 limit), Credit One ($500 limit), Barclay ($1300 limit), American Express ($1000 limit)
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