Bankruptcy Blog Archives

One of the main reasons people file a chapter 13 bankruptcy is to stop a foreclosure sale of their home. The reason for the foreclosure sale is that for one reason or another they have fallen behind on the payments. The sale will usually happen after 4 to5 payments have been missed and the mortgage [...]

There is this couple that a couple years ago the husband took a major cut in pay. During a four month period of unemployment they ran up the credit cards they had. When he finally got the job he has it was for less money the credit cards finally got behind and then the late [...]

When you file for a Chapter 13 bankruptcy, some people will include their child support arrears through the Chapter 13 plan. There is some confusion as it relates to the child support and the >Chapter 13 plan. As a Debtor you can only include the amount that you are past due, you can not include [...]

A chapter 7 is the easiest way to take care of credit cards, medical bill, and any other unsecured debts. The chapter 7 is a bankruptcy that discharges all unsecured debts. Discharges means that you will never have to pay on that debt and it will fall off your credit when the bankruptcy falls. In [...]

Chapter 13 Bankruptcy is an option for debtors that have received “Notice of Foreclosure Sale” on their homestead. This allow the debtor to stop the foreclosure and repay the mortgage arrears through a 36 – 60 month Chapter 13 plan. The payments will be paid directly to the Trustee and disbursed to the mortgage co. [...]

Many people feel that they should or need to pay a particular credit card off prior to filing for bankruptcy, whether it is a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. People feel that they should pay off their lowest credit card in order to keep it. In doing so they feel that they [...]

CCC is short for Credit Counseling Certificate and it is necessary to have this certificate in order to file your case. The purpose of this course is to make sure that you understand the process and the difference between the Chapter 7 & Chapter 13. It also wants to make sure you understand your debt [...]

After you have submitted all of your paperwork to your bankruptcy attorney, you will meet with the attorney to find out what your payment will be to the trustee. The bankruptcy attorney will give you the payment amount, the due date and where to send the payment to. Your first payment is the most critical [...]

After your Chapter 7 case has been filed, there are only a few more things that you must do before your case gets discharged. One of the items that you must do is complete a Debtor Education course. This course is required by all Chapter 7 and Chapter 13 Debtors that file for bankruptcy. This [...]

After the laws changed back in 2005, it required Debtors who were filing for bankruptcy to provide their last 6 months pay stubs to conduct a means test. For Chapter 7 bankruptcy, the means test is conducted to ensure that no one is abusing the system and qualifying to file a Chapter 7 bankruptcy rather [...]