Category: Chapter 13 Archive
Bankruptcy and Property: Allowing a Home Included in a Chapter 13 Bankruptcy to Foreclose
Justin Harelik
March 27, 2015
If you filed for Chapter 13 bankruptcy, included your home, successfully completed a few years of the agreed upon repayment plan, but now find yourself unable to make your modified loan payment, can you walk away from the home? Can a lender foreclose on a home included in a Chapter ...
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Chapter 13: Can We Walk Away from the House, but Keep Our Two Vehicles?
Justin Harelik
March 18, 2015
Sometimes, even with the most thorough contemplations beforehand, we change our minds after a decision has been made. It can happen to anyone. Sometimes we change our minds about what to have for lunch and sometimes we change our minds about something pretty big and important – like which personal ...
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Do I Have to Turn Over My Tax Refund During Chapter 13 Bankruptcy?
Justin Harelik
March 10, 2015
When filing for Chapter 13, some filers receive a tax refund. As it is currently tax season, we get a lot of questions regarding a tax refund and bankruptcy. If you are in the midst of a Chapter 13 bankruptcy, do you need to turn over your tax refund? In ...
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The Story of Post-Bankruptcy Mortgages
Justin Harelik
November 19, 2014
Filing for Chapter 7 or Chapter 13 personal bankruptcy means a mark on your credit report for as long as 10 years. But contrary to the belief of many who fear filing for bankruptcy because of this fact, a record of bankruptcy on your credit report for up to 10 ...
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Should I Keep Paying Bills or Stop Paying My Bills if I’m Filing for Bankruptcy?
Justin Harelik
September 30, 2014
One of the most common questions from individuals who are about to file bankruptcy or are in the process of filing is, “Should I keep paying my bills or stop paying them before I file?” Since most who have decided to file for bankruptcy are either very overextended or delinquent, ...
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How Soon Can I File Bankruptcy for the Second Time?
Justin Harelik
August 29, 2014
We don’t live in a perfect world. That’s why there are laws in place that are there to protect us from our own mistakes. One such helpful tool the law provides for us is bankruptcy. Sometimes we find ourselves in an impossible financial situation by no fault of our own. ...
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Your Home, Your Car and Bankruptcy
Justin Harelik
July 8, 2014
Many of us are attached to our vehicles and some of us aren’t sure what we would do without them. When considering filing for bankruptcy, there tends to be a lot of discussion about the home, but what about the car? What happens to your car when you file for ...
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Credit Counseling vs. Bankruptcy
Justin Harelik
July 7, 2014
Nearly every bankruptcy consultation will eventually lead to one big question: Is filing Chapter 7 bankruptcy a better option than credit counseling? It’s a big question with a big answer because they are both valid options and the only way to respond to the question appropriately is with a list ...
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Protecting Assets in Bankruptcy with California Exemptions
Justin Harelik
June 25, 2014
Many assume that when declaring bankruptcy, all assets are lost to creditors. That’s simply not true. In many bankruptcy cases, debtors are able to keep everything and lose nothing (other than their overwhelming debt). Some or all of the filer’s assets are exempt. Exemption means that the specified property cannot ...
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Slim Down Your Lifestyle Post-Bankruptcy
Justin Harelik
May 19, 2014
You’ve declared bankruptcy. It’s final. You’ve received your discharge. You have a fresh financial start…and some new challenges to deal with. Firstly, your credit rating has taken a hit. Considering the nature of bankruptcy, it probably wasn’t great to begin with, but bankruptcy will still affect your score. Your bankruptcy ...
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