We recently filed Chapter 13 to avoid foreclosure, but now I am thinking about letting the house go and changing to Chapter 7? We can’t afford the house mtgs, taxes and insurance on our reduced salary. Question – in a chapter 7 can the creditors (?) come in and take stuff from your house? If so, what are they looking for – high ticket items? We do not have any. Husband is afraid they will come in and take all kinds of stuff. I disagree. With all the foreclosures coming down right now, they do not have the time or expense to chase all these down.
What about the 2 cars we are behind on payments on?
Has anyone gone thru this?

I know that chapter 12 is for farmland, vs Chap 7, 11, or 13. This is for a school assignment!
Thanks!

I am in Denver, CO I need to stall the sale of my property, I have put money in to sell it, many prospects. I just need to buy a little time. The chapter 7 has been filed the Judge granted the Banks motion to release the propert, I never received notice of the motion, what can I do?

We are told it will stop a bank foreclosure and all suits dead in their tracks, but how bad are the credit repercussions?