Tag Archive for: 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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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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Individual Chapter 11 Bankruptcies

What is an Individual Chapter 11 Bankruptcy and Why would I need one? Chapter 11 bankruptcy is an option available to individuals, even though it is most commonly used by businesses. While most people file a Chapter 7 or Chapter 13 bankruptcy, Chapter 11 favorable to those whose income exceeds the amount allowed by Chapter […]

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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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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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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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Rebuilding Your Credit After Filing For Bankruptcy

What can you do to recover your credit after filing for Bankruptcy? Many debtors mistakenly believe that they will be unable to obtain any new credit for 7-10 years after filing bankruptcy, but in most cases that couldn’t be further than the truth.  Although, a bankruptcy does remain on your credit for 7-10 years most debtors […]

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