News Topic: Chapter 13 Bankruptcy

Most lawyers in the area utilize the $3500 flat fee through the length of the case option.  One other thing that I would like to do is when they’re actually ready to file a case and let’s say the plan payment is going to be $800; $800 is the amount that I ... Read full article

Chapter 13 will only succeed if you have the ability to repay.  So, just like we calculate the income and expenses for a Chapter 7 for Schedule I and Schedule J of the petition, we have to see as attorneys the ability to repay.  So let’s say you do an ... Read full article

Let’s talk about people on Social Security and their ability to file for Chapter 13 bankruptcy protection.  We can do a 13 for people on Social Security.  For a Chapter 13, you just have to have steady income from any source.  It could be child-support, ... Read full article

Certain tax debt has to be paid 100%, certain tax debt we can pay less than 100%.  Cars are treated a little differently too, depending upon how old they are.  So when we look at their income minus expenses, we know approximately what it’s going to take in ... Read full article

Your Current Monthly Income Affects Eligibility for Chapter 7 Bankruptcy The term “current monthly income” (CMI) is an important concept in bankruptcy that courts use in several “bankruptcy tests”. For example, your “current monthly income” is important ... Read full article

What we are talking about basically is the Chapter 13 plan.  It’s the reorganization plan.  And the debtor is required to not only prepare a plan which they do through an attorney, but they need to execute the plan.  If the monthly payment in the plan is ... Read full article

The stagnant economy and depressed housing market has created a huge financial burden for millions of Americans. Many Americans are unemployed and having a difficult time keeping up with their debt obligations. Furthermore, declining home values are ... Read full article

Whether a debtor files Chapter 7 or Chapter 13, her bankruptcy should have no effect on an already completed loan modification, whether the homeowner is making payments under a trial modification or a permanent one as long as the homeowner continues to ... Read full article

Although bankruptcy filings by sports teams have been historically rare, a recent smattering of filings have turned into a trend.  The Los Angeles Dodgers have recently joined the Phoenix Coyotes, the Chicago Cubs, the Texas Rangers and several other ... Read full article

Most people don’t realize that filing bankruptcy can stop a garnishment. The conventional thinking is, “Well, they got the judgment in court, so nothing I can do”. Nothing can be further from the truth. Bankruptcy can and will stop the garnishment, even ... Read full article

A bankruptcy discharge is one of the most common reasons for filing for bankruptcy.  A discharge releases you from personal liability for debts that qualify under federal law.  It is a permanent order granted by a bankruptcy court.  Any debts you ... Read full article

Millions of tickets are dolled out every year, not to mention government penalties and fines.  Government tickets and fines are one of the most common forms of debt.  Can these be discharged through a bankruptcy filing?  In Chapter 7 bankruptcy, section ... Read full article

Most people agree that the HAMP modification program is a complete failure.  The disagreement is over why.  In a report published by Propublica different servicers are rated for completion of trial periods.  The report only deals with modifications that ... Read full article

I heard that you can keep your vehicle in Chapter 13 and pay less than your vehicle’s outstanding loan balance. Is this true? In all situations filing a Chapter 13 bankruptcy petition will allow you to keep your vehicle. Even if you are behind on your ... Read full article

By: Aaron Huff Divorce filings and Bankruptcy filings often intersect.  In my years as an attorney practicing heavily in bankruptcy law, I have seen countless individuals in consultations where a divorce is an issue.  It is such a frequent occurence that I ... Read full article

If you are experiencing serious financial difficulties in Illinois and your income is less than Illinois’ median income, then you can file a Chapter 7 bankruptcy, if you meet other minimum criteria. But if your income is greater than the State’s median ... Read full article

Bell County Kentucky County Clerk Becky Blevins files for Chapter 13 bankruptcy. Bell County Kentucky Court House photo courtesy of W. Marsh on Wikimedia Commons. Another elected official has filed for Chapter 13 bankruptcy.  This time it is Becky Blevins, ... Read full article

You Can Keep Your Car When You File Bankruptcy Although these days riding the bus may be the more green mode of transportation, for many people driving their car is something they cannot do without and in order to be able to truly have a fresh start. Then ... Read full article