Bankruptcy Blog Archives

I hear it all the time “If i file a bankruptcy, i can’t buy any thing for ten years.” That is so far form the truth. For some they can buy a house a year after filing the bankruptcy chapter 7, if they filed a chapter 13 it might be a year and a half [...]

The importance of making IO payments prevent your case from getting dismissed. The reason why you signed an IO to begin with is because you fell behind with your trustee payments and to prevent the case from getting dismissed you signed an IO to make those payments up. The problem you have with an IO [...]

Something new I learned last month or so ago is that you can file a motion to set aside an IO that was signed with the trustee. You really don’t want to make it a habit, but there are times when you have to for the clients benefit. The two that I have done, I [...]

The TRCC, formerly known as the Trustee’s Recommendation Concerning Claims Hearing, is held after your claims bar date has passed in a Chapter 13 Case. This hearing can be considered to be the final confirmation hearing of your Chapter 13 plan. This notice will list all secured, priority, and unsecured claims filed in your case. [...]

If things have changed in your job or something else happens to you, and you fall behind on your car. The lender at some point will come and repo your car. If this happens unless you have all the money to pay off loan the only thing you can do is file a chapter 13 [...]

I was in court the other day and sat in on an interesting hearing before the judge. The Texas Comptroller was objection to a modification by a Debtor. The modification was done to cure some Trustee arrears, include some money owed to the IRS, and to include some money owed to the Texas Comptroller. As [...]

A chapter 7 bankruptcy is what most people think of when you say “Bankruptcy”. This is what is needed when your income has dropped to the point you can not make payments on all your debts. You start picking what is important and what is not. the secured debts meaning car and house need to [...]

Today was the very first time I have ever been given the opportunity to go to the Chapter 13 trustee’s docket. The attorney is the one who generally handles this docket twice a month and the paralegals prepare most of the docket. I have always wanted to go and see how everything works, but never [...]

When you file either a Chapter 7 or 13 banruptcy case you must provide 2 most recent tax year returns to the Trustee. If you did not make enough money or were not required to file tax returns for those years then you must sign a tax affidavit. In some bankrutpcy cases, the IRS may [...]

If your lease is up on your vehicle and you want to keep the vehicle you must acquire approval for loan on the balance as per lease agreement. This requires incurring new loan and you must get permission from the Chapter 13 Trustee and Bankruptcy courts to incur new debt. A motion to incure debtor [...]