El Cenizo, TX Bankruptcy Law Firms & Lawyers

Filing Chapter 13 will allow you to stretch repayment of the past due mortgage amounts over 3-5 years, but if your current income is not enough to make your monthly mortgage payments, it's unlikely the court will allow you to keep the home.

You need to file an amended schedule, but which schedule depends on what kind of debt it is. Typically you will want to file an Amended Schedule F because that is the schedule for unsecured, non-priority creditors. However, you should check to see if the creditors that are calling you would fall into the category of an "unsecured non-priority" creditor (Schedule E) or a secured creditor (schedule D). There is a fee associated with filing a new schedule to add creditors, so be aware of the additional cost.

It really depends on whether the debt is yours solely, or are your parents cosigners, named on any credit cards, or any other arrangement where your parents agree to guarantee the loan. A loan is a contract where one party agrees to give money at a certain time, and the other party agrees to repay the loan at a later date.  The contract can only involve the parties in interest.  As such, a creditor can only collect from the party or parties that acquire the debt.  If your parents were involved in the acquiring of the debt, then they may be held responsible for repayment.  If your parents did not help in acquiring the debt then they should not be help responsible.   This is not intended to be legal advice, and is general in its nature.  No attorney-client relationship exists or is formed by this information.  Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.