Bankruptcy Blog Archives

Owning and maintaining one or more rental properties can sometime be financially draining, especially while in bankruptcy. This is usually caused from tenants having to be evicted for failure to pay rent or repairs and upkeep after a tenant has moved out. You can sell the rental property while in bankruptcy however a motion to [...]

Many clients contact our office to complain that the bankruptcy plan payments are making it impossible for them to meet their monthly household obligations such as utilities, rent/mortgage payments, auto payments, etc. My response to this complaint is that these monthly debts are all listed in their budget schedules and these calculations reflect they should [...]

If you have an outstanding payday loan that you incurred within 90 days of filing bankruptcy then you will be responsible for paying this debt if the creditor files motion to deny discharge or Adversary. The payday loan service usually holds a post dated check that they may attempt to process through your checking account, [...]

If you have a checking account when filing bankruptcy then financial institution may decide to suspend your privileges and close your account. This most commonly happens if you have an unsecured loan being discharged in case. When you meet with your attorney before filing, they may advise you to close your checking account. Your bank [...]

When you have rental property that you plan on keeping and maintaining renters and at some point through the bankruptcy you plan on selling the property it is not as easy as it may seem. When you want to sell your homestead all you need is a contract between you and the buyer, present it [...]

Many people start off in a Chapter 13 bankruptcy and after about one year find themselves in the same position they were in prior to filing their case. They find that they need to make a decision and do something different to get them back on their feet and get them on track. They find [...]

Many people don’t understand that when they file for bankruptcy, they find themselves in a hard spot with their car creditor and their mortgage company. All they want to do is talk to someone to fix a small problem, but they won’t talk to you. It is frustrating, but under the bankruptcy laws, they are [...]

If you have the misfortune of becoming incarcerated long-term during your Chapter 13 bankruptcy then you need to immediately write your attorney’s office. If you intend to remain in the bankruptcy then you may need to make arrangements with friend or family member to maintain payment on your secured debts and keep current with your [...]

During the course of your 36-60 months in Chapter 13 Bankruptcy, you will likely have gradual pay increases. These increases should not affect your bankruptcy plan payment after your Chapter 13 case has been confirmed. Under New Reform Bankruptcy Law, the Means Test will determine whether you are required to pay your disposable income for [...]

Once the stay is lifted on a house, the Debtor has a couple of decisions to make. He must decide if he wants to try and keep the house, surrender the house, or sell the house. Another decision the Debtor needs to make is if he wants to continue in the Chapter 13 or convert [...]