Bankruptcy Blog Archives

If Termination of Automatic Stay is filed by your mortgage company then immediate contact with your attorney and the mortgage company is required to avoid undue foreclosure filing. Most mortgage companies are willing to work out agreement with debtors in bankruptcy. Requesting a loan modification may take up to 30 days before approved and the [...]

What happens if you decide to surrender the last piece of collateral that is being paid in your Chapter 13 plan? Obviously, this would be a good point to evaluate your options. A Chapter 13 bankruptcy lasts between thirty-six and sixty months, however there are exceptions. For instance, you may receive a discharge prior to [...]

The main reason people file a chapter 13 is to protect their home or car that they have fallen behind on the payments. The chapter 13 will force either the mortgage company or the car loan company to accept a plan to allow the person to keep their property. Credit card debt is another good [...]

A chapter 7 bankruptcy is use to discharge unsecured debts. Unsecured debts are credit cards,medical bill, cars that have been reposed, Broken apartment leases, and other such debts. Cars and houses are secured debts. By filing the chapter 7 you will not lose these things as long as you keep making the payments as the [...]

When a Debtor decides to file for bankruptcy, regardless if it is a Chapter 7 or Chapter 13, he must provide his attorney with certain information in order for the petition and schedules that get filed with the court to be filed out completely and accurately. One of the main things that need to be [...]

Once your bankruptcy case is filed then all the creditors listed will be notified of the bankruptcy notice via 1st class mail. You should allow about 7-10 days for the collection calls to cease completely. When you receive the creditor call then you should provide them with the phone number for creditors provided by your [...]

If you decide to surrender a vehicle or home after filing your Chapter 7 case then you need to provide signed statement of surrender to your attorneys office. This must be done before your discharge is issued so this secured debt can be discharged in your Chapter 7 and not reaffirmed. Your attorney will file [...]

A Chapter 13 plan can provide for domestic support obligation (DSO) arrears due from prior to filing bankruptcy however you are required to stay current after the filing of your case. You are required to sign a DSO affidavit within 1-5 days prior to your Pre-confirmation hearing that simply states you are current on DSO [...]

One of my clients is having a difficult time because he and his wife recently both lost their jobs. He has found new employment, but had to take a pay cut and his wife is still looking for a job. She has only been unemployed for about 2 weeks. When they filed bankruptcy they were [...]

When a Debtor decides to file a Chapter 13 bankruptcy there are several factors that go into determining what their Chapter 13 Trustee payment will be. The first and most obvious depends on how much secured and priority debt is being paid through the bankruptcy. This includes things such as mortgage arrears, car payments, IRS [...]