Chapter 13 Bankruptcy Can Give You Relief From a Second Mortgage Under certain circumstances, Chapter 13 bankruptcy can help you remove a second or additional mortgage. If your home is worth less than the balance of your first mortgage, you can discharge the value of your second or subsequent ...
Chapter 13 Bankruptcy Plan Unlike the more streamlined Chapter 7 bankruptcy, a Chapter 13 bankruptcy case can be a long, drawn-out affair. When you file Chapter 13, you work out a plan with the bankruptcy court whereby you repay your creditors some or perhaps even all of the debt that you...
I’ve come across multiple individuals that are not happy with filing a Chapter 13 bankruptcy, and, oftentimes, this is due to a lack of proper explanation of the differences that exist between these two bankruptcy types. From what we observe, most bankruptcy applicants have not realized these ...
Filing for Chapter 13 bankruptcy can be a challenging and overwhelming experience. It involves creating a repayment plan to pay off your debts over a specified period of time. While Chapter 13 provides a pathway to financial stability, it can also have a negative impact on your credit score. ...
Chapter 13 Bankruptcy Pay your attorney fees and your creditors with one easy monthly payment! Process your monthly Trustee payment directly through your company payroll! Reasons for filing aChapter 13include:(a)when you need a case filed fast, for example, when a wage garnishment is pending, ...
A short tutorial about the bankruptcy trustee, the debtor's main contact in a bankruptcy case. Subtopics: Creditors’ Meeting; Chapter 7 Trustee, or Panel Trustee; Example: Computing the Panel Trustee's Commission; Chapter 13 Trustee, or Standing
A debtor who decides to file bankruptcy must also decide under what chapter to file. If the debtor decides that he wants to liquidate, then Chapter 7 is applicable. If the debtor wants to repay his debts over time to keep valuable assets, then Chapters 11, 12, or 13 would be applicable...
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Therefore, it is undisputable that clients will have to propose a 100% plan in their Chapter 13 case. I am aware that after having represented thousands of clients in bankruptcy cases clients always have what I call “the fear factor” in doing a bankruptcy. They get nervous. “Is this ...
Chapter 7is the most common form of bankruptcy, as it allows individuals to erase most of their existing debt and start afresh. Unfortunately, Chapter 7 filers are often required to surrender their home. Once a Chapter 13 bankruptcy is initiated, any home foreclosure proceedings are ceased.1For...