One of the most often asked questions I am asked is “Can I buy a house after Chapter 13?” Owning a home is the American dream of many and the thought of losing the chance of home ownership is frightening. Unfortunately, I don’t get follow up’s from clients post-bankruptcy very often on how they are doing unless I run into them at the post office, grocery store or at one of my children’s events.
Recently, I had the pleasure of speaking to a former client who will realize her dream of home ownership next month! Like many of our clients, she became overwhelmed after having a baby and incurring many medical bills. Those new, unexpected bills hampered her ability to pay her credit cards timely. She came to our office in 2008 and ultimately filed Chapter 13 to ease her financial burdens. She did everything we asked her to do—pay the trustee timely, keep her home rental payments paid timely and learned to save for the rainy days. Five years later, she was out of Chapter 13 and ready for her fresh start. She did as we asked her post-bankruptcy too. She contacted in writing all three credit bureaus—TransUnion, Experian and Equifax to make sure all the debts that were discharged in her bankruptcy were correctly reported. She completed all the paperwork to get pre-approved to buy her first home and was approved! She then got to find the perfect house for her and her family. I cannot tell you how happy I am for her.
Being overwhelmed can happen to anyone. If you can relate to this now successful former client of ours, please call our office to discuss your finances with one of our Bond & Botes attorneys. One consultation may lead you to your American Dream too!
Gail Hughes Donaldson is a Managing Partner of the Bond & Botes Law Offices in Montgomery and Opelika, Alabama. She holds a Bachelor of Science from Auburn University at Montgomery, and a Juris Doctorate from Thomas Goode Jones School of Law. She’s been helping families work through the bankruptcy process since she started with Bond & Botes back in 1993 as a paralegal. Read her full bio here.