Bankruptcy Blog Archives

A chapter 13 is a payment plan and it is there for many reasons. One of those reason is if you owe the IRS money. IF you have a payment plan with them on your own there is interest and penalties added on each month. With the chapter 13 it will stop all interest and [...]

Under the new law you have to go under a wage order to make your trustee payment if you are working. Many debtors don’t like this, because they don’t want their employers to find out what is going on in their life. If you want the reliefs that you deserve you are going to have [...]

It is very important that you as a Debtor keep insurance on your property. If you don’t, the lien hold will force place the insurance, which costs more money and it doesn’t benefit you in any way. I just had a Chapter 13 client that had damage to her house due to the bad weather [...]

One of the requirements for being in a Chapter 13 if you have a child support obligation is that you must be making all post-petition child support payments. If a Debtor is not current on child support payments, the Attorney General’s office can see to it that the confirmation of the plan is denied and [...]

When in a bankruptcy, Debtors are not allowed to incur any new debt without the permission of the court. Many Debtors don’t understand this, and think they can keep a credit card for emergencies or go buy a new car with no problems. The main problem comes when a Debtor is trying to buy a [...]

When you file a bankruptcy every creditor, that you owe money too is noticed of the filing. People will say I don’t want to put my house or car in the bankruptcy, Your not putting it in the bankruptcy but they will be noticed, and if your want to keep the car or house you [...]

There are some don’t s before filing a bankruptcy. DO not go out and run up more debts meaning do not go buy that big screen TV that you have been wanting. Do not go out and use a credit card for a down payment on a new car. Doing any kind of balance transfers [...]

A chapter 13 is a plan allowing some one to re-organize their finances. Helps them keep their home or car that they have gotten behind on because of some loss of income. Along with helping with car or house it will take care of any unsecured debts like, credit cards, medical bill, cars that have [...]

Just about anybody should file a bankruptcy that has had a change in income. Once you have the bad things on your credit either credit card debts, repo’s ,or medical bill. These things will never fall off your credit. People think every thing will fall off your credit in 7 years “Not” only the good [...]

If your spouse files Chapter 7 or 13 bankruptcy and you do not wish to be a party to the bankruptcy filing. This is a non-filing party. This means that though you are not a party of the bankrutpcy then you must contribute income and incur monthly budget expenses to household. If the non-filing party [...]