Category Archives: Chapter 13
My ex-husband/ex-wife filed for bankruptcy, what do I do?
23 June 2010 There are many concerns that can arise when an ex-spouse files for bankruptcy —too many to address in one or even a few blogs— and every situation is different anyways. So, if you’re in this situation you should immediately meet with a competent bankruptcy lawyer who includes creditor representation as part of […]
What is feasibility in a chapter 13 and why is it important?
18 June 2010 In order to accurately understand the concept of feasibility, it is important to start with a discussion of the basics of filing a chapter 13 bankruptcy. In chapter 13, the debtor needs to present a plan for approval by the bankruptcy court. It is a personal reorganization plan so to speak. Generally, […]
What is good faith and why is it important in a chapter 13 bankruptcy?
17 June 2010 The term “good faith” is not defined in the bankruptcy code. Nonetheless, the code expressly requires that your chapter 13 petition be filed in “good faith” and that your chapter 13 plan be proposed in “good faith” (your petition is different than your plan); and your case may be dismissed if a […]
Should I file a chapter 13 plan by myself?
26 February 2010 No. The first reason is because a chapter 13 is a complex legal and financial arrangement. Generally, it is more complicated than a chapter 7. In fact, most lawyers would consider themselves unqualified to assist a client in filing a chapter 7, and even more a chapter 13, and they would be […]
My car was repossessed? Can I get it back if I file for bankruptcy?
Saturday 19 December 2009 It depends on whether the repossession company or creditor still has the car and hasn’t sold it. If the creditor still has the auto, it will most likely be deemed that it is still property of the bankruptcy estate (that means it is property subject to the bankruptcy court’s jurisdiction) and […]
Can I keep one of my credit card accounts even if I file for bankruptcy?
4 January 2010 It depends on whether the account has a balance when you file your bankruptcy petition, and, if there is no balance, how a creditor may react to the bankruptcy filing. If your account has a balance, the answer is no. The reason is that the chapter 7 bankruptcy petition, which is signed […]
What is the Co-debtor (or Co-signer) stay?
13 January 2010 Often debts (loans) have more than one person obligated to repay the creditor (on the hook). These can be loans where the debt is jointly owed by two joint account holders. There are also debts where one person is the primary account holder and receives the money, and another voluntarily becomes obligated […]
Can I tithe during bankruptcy?
14 January 2010 Yes. Under either chapter 7 or chapter 13 a debtor is allowed to regularly contribute up to 15 percent of their gross income to a charitable organization. For example, if a debtor had a gross income of $40,000 a year, they would be allowed to contribute $6,000.00 a year to a charitable […]