Tag Archive for: Chapter 13 bankruptcy

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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Valuation Services: How much do you actually have?

When an individual files bankruptcy, there is often a dispute between the debtor and his creditors as to how much money the debtor actually has available to pay off his obligations. In these situations, a bankruptcy court (or the individual debtor) may implement a valuation service to determine the worth of assets from an objective […]

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Can you Refinance Your Home After Filing for Bankruptcy?

Many homeowners who have filed bankruptcy and retained their homes wonder if they can take advantage of the current low interest rates and refinance their homes.  The short answer to that question is it depends.  If you have filed a Chapter 13 and you are still paying on your 13 your option would be to […]

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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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Identity Theft and your Credit

How to protect your identity from being stolen The easiest way to protect your identity from being stolen is to continuously monitor your credit and protect important information such as account numbers, creditor information, and your social security number.  Many credit monitoring companies offer low monthly fees to pull your credit at any time and […]

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Reaffirmation Agreements-A necessary evil

What is a reaffirmation agreement? A reaffirmation agreement is an agreement whereby a debtor filing Chapter 7 bankruptcy makes a new promise to pay a pre-petition debt.  Since all of a petitioner’s unsecured debt is discharged in a Chapter 7 and a petitioner may surrender secured debt in a Chapter 7 bankruptcy the only way […]

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