Bankruptcy Blog Archives

The answer is yes, if you can legally incur debt then you can use a bankruptcy to deal with it. The chapter 7 Bankruptcy is use to deal with unsecured debts, You have to qualify to do this. Meaning not making too much money or having assets that can not be protected. The chapter 13 [...]

The number one reason the chapter 13 bankruptcy is used is to help to save a home or car. If you have fallen behind on the monthly payments the mortgage company will try and put a plan together to help you catch the arrears up. With most of the plans they want their money paid [...]

If you file a bankruptcy, yes you could lose an asset. Assets are cars, Houses, Boats, lake lots, Stocks, guns, and other similar things. There are Federal exemptions and state exemptions that you use to protect your assets when filing the bankruptcy. In some state they will allow you to use either state or federal [...]

Chapter 13 debtors are required under the new law to go under a wage order for their Chapter 13 payments. The purpose of having the debtors under a wage directive is to reduce the amount of cases that are dismissed. The problem that you run into is just a few. Some Chapter 13 debtors don’t [...]

Clients come into our office to seek relief from their creditors. People who get behind on their home tend to file for a Chapter 13 bankruptcy to save their home from being foreclosed. During the process of making their Chapter 13 plan payments, they find themselves in another problem where they can’t make their house [...]

It is a New Year, and it is time to do something about that bad credit. Bad credit can happen for many reasons. A divorce is a big killer of our credit, more bills on less money just doesn’t work. The divorce judge can say one spouse is to pay this or that but if [...]

Once you have filed a Chapter 7 bankruptcy you are told that if you come into any large amounts of money to let your attorney know right away. If you come into any type of windfall, the trustee has to know about it for 180 days after you file your case. So if you receive [...]

Losing your home is not a choice your want to have to make. Filing a Chapter 13 Bankruptcy in most casse can help you keep your home, If the reason is that you have fallen behind because of loss of income and now you have it back, the chapter 13 will allow you to pay [...]

Once you have filed a Chapter 7 bankruptcy you are told that if you come into any large amounts of money to let your attorney know right away. If you come into any type of windfall, the trustee has to know about it for 180 days after you file your case. So if you inherit [...]