Tag: chapter 13 Archive
Getting Divorced in the Midst of Chapter 13 Bankruptcy
Recently, I sat down in a consultation with a woman who was concerned about the status of her Chapter 13 bankruptcy in connection with a pending divorce. She wasn’t even sure how to ask the question, but after a bit of discussion we decided that what she really wanted to ...
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What Happens When You Miss a Chapter 13 Bankruptcy Payment?
A Chapter 13 bankruptcy is often referred to as a reorganization bankruptcy. It allows people who see a regular income to create a plan to repay all or a designated part of their debt through the bankruptcy court and the assistance of a bankruptcy trustee. Under the Chapter 13 bankruptcy, ...
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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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Chapter 13: Can We Walk Away from the House, but Keep Our Two Vehicles?
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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When Does it Make Sense to Delay Filing for Bankruptcy?
Many will tell you that you should never delay filing for bankruptcy and the logic behind this type of statement makes sense. If you know that you are buried in an amount of debt that you can’t conceivably recover from, delaying can only mean that the mountain of debt will ...
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What Happens to a Joint Banking Account When One of the Account Holders Files for Bankruptcy?
Now and then questions arise during a bankruptcy case regarding bankruptcy and joint accounts. For instance, a young man may be a joint account holder on his grandmother’s account in order to aid her in her banking needs. The money in the account is the grandmother’s: her savings and her day-to-day ...
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An Overview of California Personal Bankruptcy Options: Chapter 7 and Chapter 13
If you find yourself in an impossible financial situation, you are not alone. Hundreds of thousands of Americans find themselves in the same situation every year. Those hundreds of thousands turned to bankruptcy for a clear-cut solution. Many others are still out there, struggling to make ends meet or failing ...
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Before You File: A Bankruptcy To Do List
There’s a lot of discussion about filing for bankruptcy and what to expect once debts have been discharged, but there aren’t as many resources regarding what to do before you file. There’s a small lull between the panic of impossible financial burden and actually filing bankruptcy with the help of ...
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What to Expect Once You’ve Filed for Bankruptcy
Right after you file for bankruptcy, your credit will not be strong. Although it’s interesting to consider that any individual filing for bankruptcy wasn’t enjoying a “strong” credit rating immediately prior to filing either. The very same circumstances that led them to file for bankruptcy have already wreaked havoc on their ...
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Saving Your Home with Chapter 13
Many people declaring bankruptcy do so with the intention not only of freeing themselves from overwhelming credit card debt, medical bills, personal loans, etc., but to also free themselves from stifling mortgage payments. If you find yourself unable to handle the complete scope of your finances, but simultaneously unwilling to walk away ...
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