Chapter 13 Bankruptcy

Statistics published about loan modifications ignore the real problem which is “eligibility.”

07/16/11

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 have entered the trial periods.  Ocwen did the best while Bank of America and Wells Fargo [...]

[more]

Can you Strip down a vehicle loan in Chapter 13?

07/13/11

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 vehicle payments by several months or more, a Chapter [...]

[more]

How Does a Divorce Affect My Bankruptcy?

07/12/11

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 even list a “divorce decree” as part of the relevant documents in my [...]

[more]

Means Test Decides Whether You Can File Chapter 7 Bankruptcy if You Exceed Illinois’ Median Income

07/07/11

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 income, then you must take a means test to see if you can [...]

[more]

You Can Keep Your Car When You File Bankruptcy

07/03/11

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 need to be able to keep their [...]

[more]

Bell County Kentucky County Clerk Becky Blevins files for Chapter 13 bankruptcy

07/03/11

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, Bell County Kentucky County Clerk. Her filing looks very ordinary and but for her status [...]

[more]

Debt collector who built fake court room files for Chapter 13 bankruptcy, read Michael J. Covatto’s bankruptcy documents

06/30/11

The now infamous debt collector with the fake court room has become a Chapter 13 bankruptcy debtor himself.  After facing a lawsuit by the Attorney General of Pennsylvania and a hospital upset for millions in possibly uncollectable debts because of his actions, he has filed Chapter 13 bankruptcy to apparently to avoid the case in [...]

[more]

What is a straw buyer and what are the consequences? Is this an option to consider if I can’t qualify the home I want?

06/30/11

A straw buyer is a fake buyer set up to defraud the mortgage company.  If an individual cannot qualify for a loan for a particular home, due to bad credit or some other reason, it may seem like a solution to ask a relative or friend to purchase the home and pay them.  However, this [...]

[more]

Filing Bankruptcy Without an Attorney

06/28/11

According to the state bar, 40-50% of Arizona bankruptcy filings occur without an attorney (“pro se” in legalese).  Most individuals who file for bankruptcy are at rock bottom, and do not believe they can afford an attorney, or that it will be necessary to a successful outcome of the proceedings. However, the importance of an [...]

[more]