bankruptcy blog

Once you attended the meeting of the creditors, your trustee may have asked you to modify your Chapter 13 bankruptcy repayment plan. Usually, modifications are needed if the trustee does not think you are being fair to your creditors by giving them more from your disposable income. A bankruptcy lawyer can help you with your  … Read more

The meeting of the creditors, often called the 341 meeting, will be held within 40 days after you file your bankruptcy petition. Most bankruptcy courts hold the meeting of the creditors just one or two days a month. Many other people will be at the federal courthouse at the same time you are, typically everyone  … Read more

When you are filing your paperwork to the Federal bankruptcy court, you will need to follow the same procedures. Each district may want different forms, and in different orders, so you will want to ask your bankruptcy attorney or contact your local district to get the most up to date information. You can find the  … Read more

The cornerstone of Chapter 13 bankruptcy is your repayment plan. This type of bankruptcy allows you to keep your possessions while giving you time to catch up on your debt such as your home or your vehicle. The basic rules are the same for making a plan in its simplest form, how much you make,  … Read more

Bankruptcy falls under Federal law instead of the state you live in. So you will go to the federal court in your district. The federal court system is divided into judicial districts there will be at least one judicial district is in each state. You can file in whichever district: where you live and maintain  … Read more

Consumers that file bankruptcy are allowed by law to keep a certain amount of their property while going through the bankruptcy process. Both the state and federal exemptions allow some property to be exempt no matter what the value is. Most states allow you to keep your furniture, clothing, and wedding rings. In Texas and  … Read more

When determining what your basic living expenses are in bankruptcy, you will list your expenses plus any dependent expenses you incur on a form to be submitted to the court. Rent or mortgage payment Utilities Gas Heating fuel Electricity Tv Cell phone Internet Home maintenance Food Clothing Laundry and dry cleaning Medical and dental expenses  … Read more

Classifying your debt to determine what category they fall into will help you, and your bankruptcy lawyer determine which type of bankruptcy will suit your needs the best. Secured Debt Secured debt is tied to a specific property. If you have a mortgage, the house will be the collateral. Your car will be the collateral  … Read more

For most of us in the united states, we need a reliable vehicle to get to and from our jobs, schools, and grocery stores. A car payment is one of the most common loans in the united states. The loan is often secured by the vehicle itself. If you get behind in your payments, they  … Read more

A mortgage lender can use a process called foreclosure to take a property from a homeowner that defaults on the loan. The foreclosure process can take anywhere from one to seven months, depending on the state you live in. By filing bankruptcy, all legal actions against you, including foreclosures will be stopped. Friendly Reminders A  … Read more