Good Things

Good morning!  I mentioned yesterday that I have some BK news.  This is good news, kind of.  Potentially!

A couple of days ago, I got a letter from Chase, one of my creditors that filed a claim.  They sent this letter/notice to the Bankruptcy court, me and my attorney.

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At first when I opened it, I thought, OMGosh, this can’t be good, but as I read it, I was surprised and… confused.

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Basically, Chase has forgiven the whole loan to the tune of $8000.00!  I know.  Why would they do that while they are guaranteed payment thru the trustee? 

As it turns out, they were given a bail out and must use that soon or lose it and part of that is giving homeowners some relief.   If I wasn’t in a BK I would probably not have gotten this letter though. They are sending out this relief to people in distress.  I guess that makes sense.

But here is the kicker.  Now…the trustee just takes what she was sending to them and disburses it to the other debts that filed a claim.  One of the other creditors is Chase for my second! 

Here is where the potential good news comes in.  I mean, I’m not holding my breath, but it would be so so so awesome!  I would die!

IF and this is a huge IF…. IF Chase sends me a letter/notice like this one for my second lien then all my liens on the condo would be gone. 

The reason I’m doing a Chapter 13 is for the lien strip of those loans.  If there are no longer any liens then I could convert to a Chapter 7 and be done early.  I mean, that is probably not going to happen, things like that just don’t happen for me!  I have never had a ship come in yet!

Its nice to dream and I RACED to the mailbox yesterday after work to see.  I know that I will be holding my breath every time I go to the mail box now… for sure!

If something…. and here I go again dreaming… IF that were to happen and my credit score continues to rise:

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I would finally be sitting pretty!  We could sell the condo and move on with our lives!  Find a nice two bedroom/two bath someplace and just continue to live frugally and life would be good.

A Debtgirl can dream!  OH dare to dream!

Have a great day!

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6 thoughts on “Good Things

  1. That’s great news! I’ve been following your journey and I hope you keep us updated if you convert and get a discharge! You definitely inspire me and I enjoy your blog updates. Here’s to hoping you get another letter in the mail!!! 🙂

    • Hello!!! I love getting comments from others in bk13! I mean I am sorry you find yourself in that situation but we can really help eachother!!! Thank you for stopping by and I will def come *see * you soon!! Xo

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