Bankruptcy Blog

When a person files a bankrutpcy, regardless if it is a Chapter 7 or Chapter 13, the last 60 day pay stubs must be filed with the court. If the Debtor has not work in the last 60 days, an affidavit needs to be signed stating that the Debtor is currently unemployed. A [...]

Many clients in our office become discouraged when trying to refinance their home. If you are repaying a large amount of mortgage arrears in your bankruptcy plan then you may not have as much equity in your home as you thought. Most equity loans are capped at 80%. This means that you must have at [...]

If your case has placed under Special Monitoring Order (SMO) by the courts or Trustee then you can’t fall behind on your plan payments. Your case was likely placed under Special Monitoring order due to past delinquency, poor payment history, signing of interlocutory order or repeatative bankruptcy filings. If you fall delinquent while under SMO [...]

Just about anywhere I go and tell people that I work with a firm that does bankruptcy, They all have question. The biggest question is “I thought you could not file a bankruptcy anymore because of the new law.” Yes the law changed but if the need is there you are able to still discharge [...]

Many Debtors are confused about how student loans work in bankruptcy. Prior to 2001 you were able to include the debt and have it paid through your bankruptcy, but still owe interest when you were done. Then the law changed. By law you have to list everyone that you owe money to, [...]

In a Chapter 13, IRS debt must get paid in the bankruptcy unless the Debtor has already made arrangements to pay them directly to the IRS and are current on the payments to the IRS under that arrangement. IRS debt for taxes filed after the bankruptcy must also get paid when it comes due, [...]

I have a client who received a discharge in a Chapter 7 bankruptcy. They had a loan on their car with Discount Motors. The Debtor signed a reaffirmation agreement and was going to make pay of $180 every other week. One week he was going to be late, so he called and [...]

A chapter 7 bankruptcy is on your credit for ten years after filing. All the creditors are there too but they are there to show that they were discharged. The time between when your case is filed and the discharge of the debts is only about 4 months. After receiving the discharge letter you will [...]

Many debtors are embarrassed after they file their case and they become delinquent on their trustee payment or on their mortgage payment. When we try to call them, they ignore our calls, treating us like we are a creditor. All we want to do is help and can’t do so when there is [...]

If a debtor changes employers while under wage order then a new wage order must be completed for new employer so the wage order can resume a quickly as possible. The debtor is responsible for any plan payment to the Trustee that come due between the termination of prior wage order and resuming of wage [...]