How to Refinance While in Bankruptcy With HSBC
- 1
Consult with someone who specializes in bankruptcy proceedings.Jupiterimages/Comstock/Getty Images
Find a bankruptcy attorney who has experience with the procedures and options available to bankrupt borrowers. - 2). Prepare a budget plan with your attorney. This will reflect your new income, as well as the revised housing costs under the plan. You may also include any new financial conditions, such as decreased commuting expenses.
- 3
The court will review your papers to determine if you can proceed with refinancing.Jupiterimages/Photos.com/Getty Images
File a motion in court indicating your desire to refinance your home with HSBC while under bankruptcy. The filing fee may be included in your budget plan and paid out over time. - 4). Call your local HSBC branch and talk to the Collections Department. Tell them of your plans to refinance and ask them to refer you to the appropriate loan officer.
- 5
You must put your case before the trustee and the court to prove you have a viable budget.Jupiterimages/Photos.com/Getty Images
Defend your request in court. The trustee will go to court with you and question your new budget. Specifically, they will want to know how you intend to pay the costs of refinancing, because refinance charges cannot be included in your budget.
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