Bankruptcy Blog Archives

The filing of a bankruptcy is usually used to discharge unsecured debts. Unsecured debts in most cases are credit cards and medical bills. Cars that have been reposed, homes that have been foreclosed on, Apartments that you move out early. With these types of unsecured debts they are dischargeable. Some of the store credit cards [...]

A Chapter 13 Bankruptcy is a plan that can force creditors to work with you. If your home is up for a foreclosure sale, Filing the bankruptcy will force the mortgage company to allow up to five years to pay back the arrears. IT will not lower the interest rate on the loan. If you [...]

A chapter 7 bankruptcy is not a plan it is a discharge of unsecured debts. Unsecured debts are credit cards, medical bills, broken apartment leases, cars that have been reposed, damage form a car accident in which you have no insurance unless you were drinking, over drawn checking accounts, some IRS debts, and a home [...]

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 [...]

One of the main reasons Debtors file bankruptcy is to get rid of “Unsecured Debt.” If a Debtor is current on all his secured debt, but has unsecured debt that he cannot pay, he would want to file a Chapter 7 if he qualifies. A Chapter 13 will also help get rid of unsecured debt, [...]

Debts are classified based on different categories. If a Debtor has a debt, it is important to know how it is classified so the Debtor can determine if it is better to file a Chapter 7 or a Chapter 13 and how that debt will be treated depending on which Chapter of Bankruptcy he files. [...]

Once your bankruptcy case has been filed with the courts many people wonder what happens now. After your bankruptcy case has been filed, you will receive a notice, called the Meeting of Creditors notice. It is very important that you pay close attention to this notice whether you are a Chapter 7 case or a [...]

There is a common misunderstanding about the differences between a Debtor’s Bankruptcy Attorney and the Trustee for his case, especially when a Debtor files a Chapter 13 Bankruptcy Case. The difference seems much easier to understand in a Chapter 7 Bankruptcy. The main thing to understand is the Trustee and the Bankruptcy Attorney are two [...]

When a Debtor files a Chapter 13, all creditors who want to get paid anything (secured, unsecured, and priority) must file a proof of claim with the court. If a Creditor is scheduled to be paid direct that Creditor is not required to file a proof of claim in order for the Debtor to be [...]

Some Debtors who have to file a Chapter 13 bankruptcy are receiving help from a family member or friend in order to make ends meet. Part of getting a Chapter 13 plan confirmed is to show the Trustee and the Judge that the Debtor will be able to pay all his regular bills plus his [...]