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Spousal help in a Division I proposal

When I make a Division I proposal can my spouse agree to make part of the payments as a loan to me? I owe about 170,000 and make about 1400 dollars per month.All the loans are in my name only. With that kind of income I probably cannot make a Division I proposal on my own.

My spouse makes 4300 dollars. We are trying to save the equity in our house (about 100,000 dollars) which is jointly owned by us with a mortgage in MY name.

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One Response to “Spousal help in a Division I proposal”

Barton Goth GCO Bankruptcy Trustees said...

This is definately possible, in fact it is quite common to have a 3rd party assist in the payment of a proposal. The best thing to do is discuss this with the trustee you will be using and they will be able to help set things up in the appropriate manner.