While you are in the process of a Chapter 13 bankruptcy plan, problems may arise. It can be difficult living with such a strict budget for three to five years. After your plan is confirmed with the court, a trustee, you, or your unsecured creditors who filed a claim may ask permission of the court  … Read more

When you start a bankruptcy case, the court considers all of your property to be part of your estate. Any property you get after you start your case will not be included in the estate, and you will not need to inform the trustee. The property you own and have possession of regardless if you  … Read more

The automatic say stops creditors from contacting you to collect on a debt. As soon as you file bankruptcy, the automatic stay goes into effect. Phone calls, letters, foreclosures, evictions, and garnishments are some of the actions that must stop. Not Everything Stops The stay does not stop all actions. Congress determined that some debts  … Read more

When you start missing payments on your debt, you will probably begin receiving phone calls and letters reminding you to make a payment. The more payments you miss, the more aggressive the phone calls can become. Bill collectors may become overly aggressive and abusive in their practices. Because of these practices, congress passed a law  … Read more

Speaking to a bankruptcy attorney will help you determine if filing bankruptcy is the right choice for you, and if so, what chapter would benefit your family the most. When you are meeting with your attorney for the first time, it is a good idea to bring as much financial information as possible. Your lawyer  … Read more

When you are filing bankruptcy, sometimes the timing will make a difference in the benefits you receive from the bankruptcy. If you are facing foreclosure, eviction, wage garnishment, vehicle repossession or your utilities are about to be shut off, you may want to file an emergency bankruptcy. You can fill out the paperwork and have  … Read more

Besides the obvious of eliminating all qualifying debt, there are certain advantages to different types of personal bankruptcy. The two chapters of the bankruptcy code that benefit consumers are Chapter 7 and Chapter 13 bankruptcy. Chapter 7 Chapter 7 bankruptcy is sometimes referred to as liquidation bankruptcy. It is easier and faster than a Chapter  … Read more

In 2005 the Bankruptcy Abuse and Prevention Act went into law. This act made filing bankruptcy more complicated than it had been before. The credit card companies heavily lobbied for stricter requirements for filing bankruptcy. Means Testing If you earn more than your states median wages, you may not be able to file Chapter 7  … Read more

Also called the 341 meeting, the creditors meeting is held approximately 30 days after you file your bankruptcy paperwork. You and your attorney will attend this meeting, also attending will be your court-appointed trustee and possibly your creditors. The trustee will review your financial documents and your bankruptcy petition. The trustee will then ask you  … Read more

When you have successfully completed your bankruptcy case and were relieved of your qualifying debt, you may need some follow up action. Some of these may need the attention of your bankruptcy attorney. Are collection agencies and debt collectors that you thought were covered in your bankruptcy contacting you? Does your mortgage company or auto  … Read more