Bankruptcy Blog Archives

Many clients will call and have the impression that they are not obligated to pay their property taxes while in bankruptcy. If your mortgage loan does not escrow for property taxes then you must pay your own taxes. If you filed in 2007 then our office can have 2007 and any previous years provided for [...]

A couple was paying to one of the credit counseling companies nearly a thousand dollars a month. They thought it was working like the consultant said it would. On their credit some of the cards were still showing them as late and they were adding on more fees. She just found out that their was [...]

So many people think the worst thing you can do to your credit is file a bankruptcy. If you have good credit and nothing has changed in your ability to pay the creditors yes do not file a bankruptcy. Bad credit is the worst thing for your credit because you have no starting place to [...]

If you have been found at fault for auto accident and you did not have coverage at the time of the accident then it’s likely the insured driver’s insurance company will file a judgment against you for the repair fees. Filing bankruptcy can help you avoid required repayment of this default judgment debt. In some [...]

A gentlemen came in the office the other day. His parents had left him their home that was paid for, but along with it came the property tax bill of fifteen thousand. Which for most of us this would not be that big of problem. We would go out and get a lien on the [...]

After talking to Debtors, Attorneys, and the general population, there seems to be a misconception about filing a Chapter 7 and secured debt. Most Debtors understand that is they purchase a car or a house and file a Chapter 7 that they must continue to make payments on the property if they want to keep [...]

A Chapter 13 bankruptcy plan has fees for the trustee and court noticing fees that the debtor is unable to calculate. On many occasions I will have debtor put much time and effort into proving that they the bankruptcy plan base does not add up. I will explain to the debtor that the trustee and [...]

There are many clients in our office that have been in a Chapter 13 bankruptcy for 2-3 years and along the way the stay has terminated on their home. If no action is taken by the client to work out agreement with mortgage co. then foreclosure will follow. Many clients will move after the home [...]

Losing assets because of filing a bankruptcy does not have to happen. If you do have an asset that can not be covered it is an issue. If you are determined to keep the asset you just have to pay to the unsecured credit the amount it is worth, either in a lump some or [...]

A young man came into the office. He had bought a car last year. His credit was so so and the car lot told him if he makes all his payment on time they would refinance the car and lower the payments which were more than he told them he could afford. After six months [...]