News Topic: Chapter 13 Bankruptcy

The creditors’ meeting, otherwise known as 341 meeting, is a procedural step in every Chapter 7 and Chapter 13 bankruptcy. In a typical 341 meeting, the debtor will be asked questions under oath by the bankruptcy trustee with respect to his or her ... Read full article

Written by Craig D. ... Read full article

Written by Craig D. ... Read full article

The good news is there is life after bankruptcy!  Although filing a bankruptcy, either Chapter 7 or Chapter 13, will have a negative initial impact on your credit score, filing a bankruptcy case does not mean that you will never be extended credit again.  ... Read full article

As a bankruptcy attorney in Dallas, I get a lot of questions about the difference between Chapter 7 and Chapter 13 bankruptcy. Many people ask me about the changes in the bankruptcy laws and how they will affect their debt relief options. Although some ... Read full article

MISTAKE #1: Taking out a second mortgage against your home, often called a home equity loan. You can’t borrow your way out of debt. Many people hope to avoid Illinois bankruptcy by getting a home equity loan to pay off medical bills, credit card debt, and ... Read full article

SECRET #1: Most people keep all their property. Illinois law allows you to keep your home, cars, furniture, appliances, employer sponsored retirement and other things you need to get a fresh start. While there are limits to the values of what you can keep, ... Read full article

Here’s how different debts are treated in bankruptcy: Debts Dischargeable in Chapter 7: Personal loans – such as money borrowed from friends Credit cards Repossession deficiencies Auto accident claims Health care bills Judgments Debts from a Business ... Read full article

MISCONCEPTION #1: Bankruptcy is dishonest. Not true. Most people honestly want to pay their bills, but sometimes things happen that make it impossible. These things include an unexpected lawsuit, judgment or income tax bill – a fine that was considered ... Read full article

In Chapter 13 bankruptcy, you may be able to ask the court to lower the amount that you owe on a mortgage.  Actually, it is slightly more complicated than that, but it boils down to the same thing. If you have a mortgage that you owe more on than your home ... Read full article

Another great thing about Chapter 13 is it effectively lowers the car payment.  If the debtor was making a $500.00 – $600.00 car payment prior to filing Chapter 13, the odds are the total amount that the car is going to receive per month is going to be ... Read full article

Chapter 13 Bankruptcy and Tax Returns Chapter 13 bankruptcy is often called a “wage earners plan,”  meaning debtors need steady income in order to fund a court supervised repayment plan. The repayment plan involves paying back a percentage of debts to ... Read full article

A fringe candidate for mayor of Tucson was arrested for bankruptcy fraud a few months ago.  The 81 year old Marshall Home after filing on March 16, 2011, in United States Bankruptcy Court in Tucson an Involuntary Petition in Bankruptcy, seeking to place ... Read full article

One of the most common questions that we get here in the office from clients or potential clients who are considering filing Chapter 13 bankruptcy regards changed circumstances while you are in Chapter 13 bankruptcy.  What will happen if our income goes ... Read full article

One of the main benefits sought in bankruptcy is the discharge. In most cases a petitioner will need to fulfill the terms of the bankruptcy before being eligible for a discharge. There are numerous requirements debtors must fulfill before being eligible ... Read full article

Characteristics of a Good Bankruptcy Attorney If you’re faced with the unfortunate task of filing for bankruptcy, there’s nothing more important than having a highly qualified Arizona bankruptcy attorney by your side. Not only do reliable bankruptcy ... Read full article

The oldest of the baby boomers are just now reaching the age of retirement, and with that comes a series of new concerns.  The average cost of a nursing home today is somewhere around $7,000 a month, and that number is only on the rise.  For adults who ... Read full article

Chapter 7 vs. Chapter 13 Bankruptcy Through years of practice, I have lost track of how many times I am asked the question, “What is the difference between Chapter 13 bankruptcy and Chapter 7 bankruptcy, and what is the best option for me?”  Every time ... Read full article