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Category: Chapter 13 Archive

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Converting Chapter 13 to Chapter 7 Due to Divorce

If you are in the midst of a Chapter 13 bankruptcy plan and you find yourself facing a divorce, you don’t want to add to the emotional stress with financial stress that can be avoided. Divorce typically comes with some major financial changes: two households instead of one, spousal maintenance, ...
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Chapter 13

Reducing a Chapter 13 Payment Due to Divorce

When in the midst of a Chapter 13 bankruptcy plan, filing for a divorce will mean revisions that have to be accepted by the bankruptcy trustee. Since many Chapter 13 bankruptcy plans are very strict and leave very little “extra” cash, many feel as if they are left in an ...
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Chapter 13

Receiving a Tax Refund During Chapter 13 Bankruptcy

There’s not really a specific time that is all around “bad” for filing Chapter 13 bankruptcy. The best timing to file really depends upon your specific situation. It can depend upon the timing of personal events, the date of the last large credit transaction, major financial crises, etc. One thing ...
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bankruptcy attorneys

Converting Your Bankruptcy: Chapter 13 to a Chapter 7?

Talking to a bankruptcy attorney is imperative when considering converting a Chapter 13 to a Chapter 7. There are many different issues you need to be aware of before you make this decision. If you are in a Chapter 13 Bankruptcy there is a possibility that converting to a Chapter 7 ...
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bankruptcies

The Bankruptcy Process: Chapter 13, Foreclosure & Chapter 7

There are several things you must consider before walking away from your home after filing Chapter 13. In a Chapter 13, your mortgage payments are rolled back into the loan, making the mortgage current. This is called a loan modification – eliminating any past due payments. The bankruptcy trustee assigned ...
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Bankruptcy Law

Southern California Bankruptcy: How Exactly Does this Work?

Filing bankruptcy is intended as a protection for consumers from overwhelming debt. It seems simple at the outset, but it’s like having a house built. If you’ve never done it before, it seems like a simple concept. You look at them and then decide which one you like best and ...
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bankruptcy

Chapter 13: Involved with Credit Unions for Home Loans

Working with credit unions when you are in good standing is great, however it is very difficult when you are behind on your loan payments.  They take it personally when a customer defaults on a payment agreement or the debt becomes discharged during a bankruptcy.  They have lost money when ...
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bankruptcy

Property Loan Modifications

There has been an evolution of the mortgage crisis. During the time of this crisis, many lenders were rejecting all loan modifications. Many clients were forced to file Chapter 13 bankruptcy in order to attempt to save their homes and pay toward delinquent mortgages. Many could not afford the bankruptcy ...
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applied for another loan modification

Obtaining a Loan Modification After Filing Chapter 13 Bankruptcy

If you are in the midst of financial crisis and your main goal is to stay in your home, the first step is often to file for a loan modification. If you have approached your lender regarding a modification for your mortgage to no avail (possibly multiple times) it may ...
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5 year repayment plan

How Long Is a Chapter 13 Repayment Plan?

When considering a Chapter 13 bankruptcy, you might wonder if it’s better to get a 3 year pay back in order to get the recovery process started. Being on a fixed budget is an unpleasant prospect for many and thinking of the inconvenience may lead you to desire a shorter ...
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