Chapter 13 Bankruptcy

The Bankruptcy Process

08/09/11

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 are required to complete the counseling requirement.  This [...]

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Country Club Hills Bankruptcy Attorney On Treating Financed Vehicles Through Chapter 13

08/06/11

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 recent car purchase, it [...]

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How is a Short Sale Different from a Foreclosure?

08/05/11

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 payments, but your lender decides to allow [...]

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Banks Foreclose on Homes With No Mortgage!

08/05/11

 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 mistakenly brought a foreclosure action against a couple who had bought their [...]

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The Liquidation Analysis/Best Interests of the Creditors Test for Chapter 13

08/04/11

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 much this payment will be is to perform a [...]

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Filling a pro-se Chapter 13 to stop a foreclosure, a bad idea, but sometimes necessary

08/04/11

  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 lot [...]

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The Job Of A Franklin Park Bankruptcy Attorney Under Chapter 13

08/02/11

The job of a bankruptcy attorney is to help steer the client in many ways.  First of all, to find out the information, advise on what chapter is best, and then whichever chapter it is, guide them and assist them through that process.  Obviously, you’ve got one case, a Chapter 7, that lasts 110 days [...]

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The Chapter 13 Court Date Stated By North Riverside Bankruptcy Attorney

08/02/11

Chapter 13 also involves one court date for the individual to go to, which is known as the 341 meeting of creditors.  This is where the individual will appear with their attorney in front of the trustee, the Chapter 13 trustee, and the trustee will ask specific questions under oath very similar to a Chapter [...]

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Chapter 13 Can Work For Those On Social Security States Aurora Bankruptcy Lawyer

07/31/11

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, Social Security, technically, even unemployment if it is early enough [...]

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First Plan Payment Down Is A Good Idea Says Plattville Bankruptcy Attorney

07/31/11

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 think they’re going [...]

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