Archive for category: Chapter 13

The Importance of Gathering Documents in a Timely Manner When Filing for Bankruptcy

Why You Need to Gather So Many Damn Documents When a client retains me for a bankruptcy consult, they need to gather quite a bit of information in order for me to file their petition.  The bankruptcy Trustee looks at the last six months of household income in order to determine if the debtor(s) fall […]

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Why would a bankruptcy trustee apply to appoint legal counsel?

When you file for bankruptcy you must appear in front of a trustee, who has the responsibility of overseeing your bankruptcy. While the trustee mainly has the duty to review the bankruptcy petition, examine the debtor under oath, and oversee the payment of creditors, there are times when a trustee might actually need to hire […]

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Chapter 13 and Divorce

You and your spouse filed a joint Chapter 13 bankruptcy, and now things have gone south with your marriage. If you and your spouse are facing a divorce after you’ve filed Chapter 13, there are several things to consider. First and foremost, your bankruptcy attorney may face a conflict of interest if you and your […]

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The Role of the Bankruptcy Trustee

The Trustee’s Role in a Chapter 7 Bankruptcy When a debtor files a Chaptor 7 bankruptcy the United States Trustee appoints a trustee to liquidate any non-exempt assets of the debtor and dispense those funds to the creditors.  Each state sets different exemption amounts for different types of property. The Trustee’s Role in a Chapter 13 […]

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When is it a good idea not to file Bankruptcy?

Benefits of filing Bankruptcy Perhaps the best way to start this post is to lay out the reasons why one would want to file bankruptcy.  In a Chapter 7 the benefits are discharging all of your unsecured debt and in a Chapter 13 the benefits can range from saving your house from foreclosure and your […]

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What to do when your Chapter 13 has been dismissed.

Call your attorney A Chapter 13 bankruptcy lasts anywhere from three to five years and as most of us know-alot can happen in three to five years.  The majority of debtors’ budgets are tight because pursuant to the statute they should be, so if you or your spouse lose your job, your income gets reduced, […]

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Are fines associated with criminal convictions dischargeable in a bankruptcy?

Non-dischargeable debts Although the purpose of a Chapter 7 bankruptcy is to provide the debtor a fresh start by discharging your unsecured financial obligations, there are some debts that are non-dischargeable under the bankruptcy statue.  Those debts include, domestic support obligations, most student loans, some tax debts and criminal fines and court ordered restitution. Section […]

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Are your check cashing loans dischargeable in bankruptcy?

What is a check cashing loan? A check cashing loan is a short-term, high interest loan that is secured by a post-dated check.  More and more people are turning to check cashing loans as a means to stay afloat with their bills between paychecks.  Because these loans are issued at such a high interest rate […]

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Surrendering your home in a Chapter 13

Why would you want to surrender your home in a Chapter 13 bankruptcy? A lot of people file a Chapter 13 to prevent their home from being foreclosed on, but that doesn’t mean that you can’t surrender your home in a Chapter 13 bankruptcy just as you could in a Chapter 7 bankruptcy.  If your income is […]

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Are You Eligible for a Mortgage Modification?

HAMP Calculator The HAMP, Home Affordable Modification Program, calculator was designed to determine a homeowner’s eligibility for a loan modification.   HAMP sets forth the process for borrowers who are in default, at risk of immediate default, or in foreclosure to modify their mortgage payment targeted at about 31 percent of their gross monthly income.   The […]

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