Archive for month: July, 2011

When you should reopen a bankruptcy case

Reasons a Debtor Might Want to Reopen a Bankruptcy Case The three most common reasons that a debtor desires to reopen a bankruptcy case are as follows: 1)  Failure to file a pre-discharge credit counseling certificate; 2) Failure to list a creditor or an asset; 3)  Failure to take necessary steps to remove a judgment […]

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Chapter 13 Cramdowns

What is a Chapter 13 Cramdown? A Chapter 13 Cramdown allows you to reduce the balance of a secured loan and pay a lower interest rate on that loan. Most often debtors use the cramdown on vehicles, but if all of the conditions apply it can be used on other secured loans. How does a […]

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Reasonable and Necessary Expenses in a Bankruptcy

Why a court looks at a debtor’s expenses. Two things that a bankruptcy court looks for in a bankruptcy petition are a debtor’s income and expenses. This is important because in order to file a Chapter 7 the debtor must make less than a determined amount for his/or her family size or be unable to pay a minimum […]

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Preparing to File Bankruptcy

Once you have decided to file bankruptcy there is what may seem like a lot of information that your attorney will need from you, both in questionnaire form and in document form. Even if you have not decided to file for bankruptcy yet, but you want to expedite the process if and when you do decide […]

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