Tag: westgate law Archive
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 ...
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Home Equity and Filing for Bankruptcy: Limited Protection for the Equity in Your Home
Before filing for bankruptcy, you’ll want to educate yourself on the laws concerning home equity and filing for bankruptcy. Due to the limitations on how much of your home’s equity can be protected through Chapter 7 bankruptcy (limitations vary by state), some bankruptcy petitioners find themselves in need of some ...
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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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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 ...
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Bankruptcy and Home Mortgage
Many of the clients we consult have early questions regarding bankruptcy and home mortgage. When filing for Chapter 7 bankruptcy, consumers have the option to reaffirm their mortgage. If filers are current on their loan payments and will be able to meet future payments, reaffirming the loan simply informs the ...
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Is Suing to Collect on a Personal Debt a Viable Option?
In the event that you loan money to a friend, family member, or acquaintance that fails to pay, there are a couple factors that need to be considered before you decide how to collect a personal debt. In most cases, you must sue within four years of the date you ...
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If I Don’t Make My Minimum Monthly Credit Card Payment Will I Get Arrested?
There are so many people that are struggling with overwhelming debt. Many of those who find themselves in an impossible situation financially attempt to “do what they can” to stay in good standing. Doing what they can usually means sending in as much money as possible, but not meeting the ...
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What Happens When Your Student Loan Cosigner Files for Bankruptcy?
With rising tuition prices across the nation, it’s not surprising that there is so much talk about bankruptcy and student loans, excessive student loan debts, and astronomical student loan payments. What many are wondering, but not many are sure about is what happens when the cosigner on a student loan ...
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Bankruptcy and Credit Cards
When considering options prior to filing for bankruptcy, there is one basic concept that is frequently overlooked: ALL debt should be included in your bankruptcy filing. This holds true for bankruptcy and credit cards as well. Even after the question has been asked and answered many potential bankruptcy filers have ...
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Death and Debt
In total, American consumers owe $11.74 trillion in debt (as of 2014), an increase of 3.3% from the year before. $882.6 billion of that debt is credit card balances. $8.14 billion is mortgage loan balances. $1.13 trillion is accounted for by student loan balances (an increase from 8% from 2013). ...
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