If you are considering filing for bankruptcy, there is some Chapter 13 bankruptcy information that you should know so you can make an informed decision before you file. Chapter 13 is also known as debt repayment bankruptcy. Chapter 7 bankruptcy eliminates debt and Chapter 13 allows the debtor to make payments to a court approved trustee over a period of time not extending five years. It is during this time period the debtor pays off as much debt as he… Read More >
Dec 2
Repossession And Bankruptcy: Can You Prevent Your Vehicle From Being Repossessed?
Unfortunately, if you are not up to date with your car payments, the lender has every right to repossess the vehicle at any time without giving you notice. However, if you file for bankruptcy, the repossession may cease and you may even have the opportunity to get your vehicle back. Once you learn more about the different types of bankruptcy, you will have a better understanding of how the combination of repossession and bankruptcy is not the definitive on whether… Read More >
Sep 18
Stopping Foreclosure With Chapter 13 – Is It Possible To Save Your Home By Filing Bankruptcy?
Over the past decade foreclosure rates in America have reached percentages that are close to pandemic levels. Millions of foreclosures have occurred during the past several years. The high levels of foreclosures have been compared to the same numbers that were recorded during the Great Depression. Many homeowners wonder if there is a way to stall or even stop a foreclosure from happening to them. The answers are not as cut and dry as many would like, however, stopping foreclosure… Read More >
Aug 6
What Is Bankruptcy Protection Chapter 13?
Chapter 13, also known as the wage earner plan, is a type of bankruptcy that allows individuals to retain their assets while they are getting out of debt. All chapters of bankruptcy serve individuals and businesses that are overwhelmed by debt. Bankruptcy also protects them from debt collections, wage garnishments and lawsuits during the bankruptcy proceedings. Bankruptcy protection chapter 13 helps you reorganize and repay your debts without creditors harassing you. Understanding Chapter 13 Bankruptcy The federal court can consider… Read More >
May 7
What to Do When Filing For Bankruptcy and Divorce
Bankruptcy and divorce are two words that many times are spoken in the same sentence. One often follows the other because financial issues are usually the main cause for the dissolution of marriages. Many times a person will wait to see if their financial situation will improve. This causes stress in the relationship and a breakdown of the family. The Things You Should Do If you are married or separated, speak with a bankruptcy attorney before the courts make the… Read More >
Aug 25
Who Can File Chapter 13?
Filing Chapter 13 bankruptcy is a great option for many debtors. However, some debtors are not eligible to file this type of bankruptcy. Find out who can file Chapter 13 and who cannot file Chapter 13 so you will be able to make an informed decision if you have to file bankruptcy. A Business Is Not Eligible To File For Chapter 13 Business owners, even those who operate businesses as a sole proprietorship, are not eligible to file for Chapter… Read More >
Jun 5
Filing Chapter 13 Bankruptcy – What Does That Mean?
Chapter 13 bankruptcy is also referred to as bankruptcy for the average working individual. This section of bankruptcy allows individuals who are filing Chapter 13 bankruptcy the opportunity to go through debt reorganization. This reorganization is handled by the bankruptcy court. According to the code, the primary objective for a Chapter 13 bankruptcy filing is to have debtors with a regular source of income repay their debts in accordance with a court approved repayment plan. Debtors have the option of… Read More >
Apr 4
Understanding Chapter 13 Bankruptcy Rules
Chapter 13 was created to help individuals who are facing a financial crisis and want to keep certain assets. Although filing this Chapter of bankruptcy may be able to prevent a vehicle from being repossessed or a home from being foreclosed, it is important that individuals understand Chapter 13 bankruptcy rules before they file. When a person files Chapter 13 bankruptcy, the automatic stay protects them from creditors. The automatic stay is nothing more than a court order. This court order prohibits… Read More >
Dec 12
Chapter 13 Bankruptcy Help Could Be An Answer For Your Financial Situation
When a person is contemplating bankruptcy, he or she is often unsure about the difference of Chapter 13 bankruptcy and Chapter 7 bankruptcy. Chapter 13 bankruptcy is the second most filed type of bankruptcy after Chapter 7. One of the differences between Chapter 7 and Chapter 13 is that Chapter 13 does not include liquidation. Under the law, a Chapter 13 debtor may retain ownership of all property as long as his or her plan complies with the bankruptcy law. The… Read More >
Nov 1
What is Chapter 13 Bankruptcy?
When most people think of Bankruptcy, they think of a clean slate, a fresh start, a way to wipe out debts quickly. However, what this describes is not a Chapter 13, but a Chapter 7 Bankruptcy. So, what is Chapter 13 Bankruptcy? What Is Chapter 13 Bankruptcy? A Chapter 13 is a repayment plan which takes 3 to 5 years to complete. The Trustee handling you case takes your payments. That Trustee in turn pays your creditors after taking a… Read More >
