News Topic: Chapter 13 Bankruptcy

Most Chapter 13 cases are not successfully completed and discharged.  This means that there are many individuals who file for Chapter 13 and find themselves unable or unwilling to continue.  Can these filers convert to Chapter 7?  Should they? If you are ... Read full article

  What happens when you file for bankruptcy and then receive a large inheritance?  If your receive an inheritance, should you still consider filing for bankruptcy?  Questions involving financial assets can be complicated, and often depend on the timing, as ... Read full article

NACBA (National Association of Consumer Bankruptcy Attorneys) responded this weekend to the government’s latest approach to the foreclosure crisis with what many people are calling the Principal Paydown Plan. Rather than turn the United States into a ... Read full article

The 9th Circuit has ruled that to the extent that an automobile lender rolls the negative equity from a trade-in into a new acquisition loan that part of the loan is not a purchase money security interest.  In re Penrod, 611 F.3d 1158 (9th Cir. 2010).   ... Read full article

Although debtors are typically required to pay at least some of their unsecured debts in Chapter 13, and are required to complete a plan, it may sometimes be strategic to convert a Chapter 7 case to Chapter 13.  When would this be? If a creditor objects to ... Read full article

When you consider filing for bankruptcy, if you are married you will have to decide whether to file jointly or separately.  If you decide to file jointly, it will be important to know:  what will happen to your spouse? What happens to your spouse will ... Read full article

Identity theft, the use of another’s personal information for fraud or deceit, is unfortunately a widespread problem.  And a significant number of bankruptcies involve identity theft as well.  Examples include the filing of bankruptcy with another’s name ... Read full article

If the trustee is not recommending approval, there has to be some kind of modification or correction made.  For example, the debtor might have to provide additional information to the trustee to satisfy the trustee that the debtor is paying all their ... Read full article

The most common form of a chapter 13 bankruptcy is to save a home.  This is the scenario I’m talking about.  If someone has fallen behind on their mortgage payment for whatever reason – it could be a medical reason, job related, or divorce.  They don’t ... Read full article

In each of the following mistakes, ask yourself whether you think a receptionist, delivery person, or cleaning crew could get their hands on your confidential legal documents. I think you’ll agree that any one of these mistakes could result in your Social ... Read full article

If you live in California or Florida, your financial problems are probably more serious than if you lived in other states. The large number of residents in these states – combined with home values that skyrocketed and then collapsed – resulted in many ... Read full article

Today was a most interesting read of the newspaper. Financial stories abound each day, the news is filled with tales of the stock market crash and the double dip recession (was there ever a rise to double dip?). Here are a smattering of headlines that ... Read full article

What steps need to be taken when you file for bankruptcy?  How will the thing pan out?  To avoid the fear of the unknown, here is a general run-down of the basic steps of filing for bankruptcy and receiving a discharge. Before you file your petition, you ... Read full article

There are typically two ways to treat a financed vehicle through a Chapter 13 bankruptcy plan.  This is called the 910 rule or we will call it a 910 car.  That basically means was the car was either purchased more than 2 1/2 years ago or not? If it is a ... Read full article

 In the current home foreclosure crisis, it seems some banks have become trigger happy.   It has become a bit of a recent anomaly why banks have suddenly and mistakenly gone after some homeowners with whom they have no claim.  Recently, Bank of America ... Read full article

With the housing market the way it is, many people want to know: what is the difference between a short sale and a foreclosure sale?  And what difference does it make in bankruptcy?   In a short sale, you have defaulted on your loan and cannot make the ... Read full article

When considering a Chapter 13 Bankruptcy, one of the first questions that every debtor wants to know is how much their monthly Chapter 13 Plan payment will be. As with most legal questions, the answer is that it depends. One of the ways to determine how ... Read full article

  It is of course a bad idea to file on your own, but I recognize that in some cases it is necessary as you may not have the funds to hire an attorney.  Sometimes, you can hire an attorney once you have filed, and your case can succeed.  It used to be a ... Read full article