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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 know was how do you […]

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, the debtor can propose a […]

Chapter 13 Bankruptcy: Can I Strip a Second Mortgage?

When filing a Chapter 13 bankruptcy, you may be able to strip a second mortgage if there is no equity in your home after the first mortgage. In this instance, the second mortgage can be treated similar to any other unsecured lien (like a credit card debt) and the debtor could end up paying little […]

Lease-to-Own Property and the Chapter 13 Bankruptcy

There are all kinds of ways to get overwhelmed by debt. You might start off with a little bit of credit card debt, and then add a mortgage. A little while later you may throw in an auto loan or two. Along the way, you may be very friendly with your credit cards and they […]

Can a Chapter 13 Bankruptcy Payment be Deferred?

When you declare Chapter 13 bankruptcy, the bankruptcy court determines a set pay schedule for a pre-determined amount of time. In cases where unforeseen events cause major dips and dives in the income of bankruptcy filers post-bankruptcy, they can come up against a major problem: the inability to make the Chapter 13 payment. In this […]

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 hire the builder to complete […]

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 you stopped paying and often […]

“Working a Deal” with your Mortgage Lender Post-Bankruptcy

In some situations, a mortgage lender will get in touch with a homeowner years after they filed for Chapter 13 bankruptcy suggesting that they “work a deal.” Is it possible to work a deal with your mortgage lender post-bankruptcy? The quick answer is yes! It sounds like an appropriate time to apply for a loan […]

Bankruptcy and Home Loans: What’s the Best Way to Save Your Home?

While divorce and separation are often caused by financial trouble, they can also lead to financial trouble. For instance, who keeps the house? Who makes the payments on the house? Who benefits from all the payments already made on the house during the years the marriage was intact? What happens when one spouse refuses to […]

Protecting Your Home Equity and Bankruptcy

Many who find themselves in financial straits worry about the fact that they have worked hard to purchase a home and pay substantial sums of money towards paying off the loan so they could own outright. When the time comes that you realize that you are about to be sued for nonpayment, the first thing […]

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 term for your Chapter 13 […]

Bankruptcy and Property: Allowing a Home Included in a Chapter 13 Bankruptcy to Foreclose

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 13 bankruptcy repayment plan? The […]

Do I Have to Turn Over My Tax Refund During Chapter 13 Bankruptcy?

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 most cases, bankruptcy filers could […]