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Category Archives: Chapter 13

Category Archives: Chapter 13

I want to file bankruptcy but was told that the amount of my income is too high and I will not satisfy the mean test, what is the means test and what can I do?

21 December 2012 The means test in bankruptcy was one of the most important changes to the bankruptcy code made in 2005 under Bankruptcy Abuse Prevention and Consumer Protection Act, known as “BAPCPA.”  The means test is trying to make sure that people who have the “means” to repay their debts, in fact due, conceivably […]

How will my student loans be treated in a chapter 13 bankruptcy?

19 July 2012 This is a good question and is of some dispute in the legal field. We start with the rule that people generally know; student loans are not dischargeable in bankruptcy (with rare exceptions). Another general rule for chapter 13 filers is that unsecured creditors are usually paid a percentage of the total […]

What does it cost to file bankruptcy in Massachusetts (in attorney’s fees)?

11 May 2012 This is common question posed by a prospective client when they are “shopping” for a bankruptcy attorney to file under chapter 7 or chapter 13, especially by those that put a significant emphasis (often an overemphasis) on price. This post raises one consideration for those that emphasize price when choosing an attorney […]

Will I be able to keep all of my assets if I file for chapter 7 bankruptcy? (Part 2)

3 December 2011 As stated in the prior blog posted on 2 November 2011, we are addressing a debtor’s ability to keep his assets upon the filing of a chapter 7 bankruptcy. We stated that once the case is filed, generally your assets become part of the bankruptcy estate and are subject to liquidation. We […]

Will I be able to keep all of my assets if I file for chapter 7 bankruptcy?

2 November 2011 The answer is maybe. But in most cases you will not know for sure that you will keep your assets until the case is closed. For a better understanding, please read on. This question is common for people to have and for bankruptcy blogs to address. Usually the truth is told that […]

The new bankruptcy rules are coming!

6 September 2011 The United States Supreme Court has approved significant changes to the Rules of Bankruptcy Procedure that will take effect 1 December 2011. The most notable changes are to Bankruptcy Rule 3001 regarding requirements for creditors in the claims they make in bankruptcy cases in general; and the addition of Bankruptcy Rule 3002.1 […]

Can I get a loan modification while in chapter 7 bankruptcy?

1 August 2011 The answer is yes. However, chapter 7 may not be the way to go if a loan modification is your goal. Many considerations are in order. People desirous of a loan modification want to keep their residential home, but at the same time they may not be able to afford the current […]

Chapter 7 Bankruptcy & Utility Bills—What Happens?

13 October 2010 Utility bills, in one way, are just like any other unsecured debt—they are discharged in a successful chapter 7 bankruptcy. So, relief from the outstanding amount at the time of filing for bankruptcy can occur. But that is where the similarity to other unsecured debts ends. 11 U.S.C. § 366. Usually, a […]

Want to hire a cheap lawyer, watch out!

23 August 2010 Frequently my office receives calls from people saying they are contacting all the bankruptcy lawyers listed in the phone book and inquiring: “How much do you charge for a bankruptcy?” The caller fails to realize that there are different chapters to file under, which are very different, including different amounts of time […]

How much will I have to pay each month in a chapter 13? What will my monthly chapter 13 payment be?

24 June 2010 The answer to this question is hard to predict until a proper analysis is completed. This analysis is based on applying the law to each person’s unique financial circumstances. Everyone’s payment amount is different. As I write, I am aware of one plan proposing to pay $78.00/month, another paying $130.00/month, and another […]