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Tag Archives: chapter 13 bankruptcy

What Role do Creditors Play in Bankruptcy?

Depending on the type of bankruptcy proceeding, creditors can have numerous rights. While bankruptcy automatically stays must collection activities, certain creditors may play an active role in the bankruptcy process. These creditors — whom the petitioner must list in his or her bankruptcy petition — must receive notice of the filing. Under Chapter 7, creditors… Read More »

Long-Term Effects of Bankruptcy

We spend a lot of time here reassuring clients that bankruptcy is not the end of their financial lives and that many individuals and businesses come out of bankruptcy with improved financial health. This is absolutely true and we stand by it. But it is also important for people to recognize the gravity of the… Read More »

Can I Shed My Mortgage?

The answer to this question depends entirely on your situation. You may be able to prevent foreclosure and get rid of your mortgage at the same time by investigating who exactly owns the mortgage and holds the promissory note for the loan. And you may be able to drop a second mortgage entirely if you… Read More »

What Form of Bankruptcy is the Right Choice for Me?

The correct form of bankruptcy for you depends on the details of your situation. What sort of debt do you have? Bankruptcy law divides debts into two broad categories: secured and unsecured. Secured debts are debts backed by collateral to reduce the risk of lending. For example, a mortgage is a secured debt because your… Read More »

Filing Bankruptcy After Divorce Is Final

One advantage of filing bankruptcy after the divorce is completed is a shorter divorce than a divorce that proceeds concurrent with bankruptcy. Shorter divorces are generally less expensive. Recent changes from the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) made it more difficult to discharge divorce-related debts in bankruptcy. You cannot discharge any divorce-related… Read More »

Filing Bankruptcy While a Divorce Is Ongoing

With a Chapter 7 bankruptcy, the process moves rather quickly and bankruptcy closes generally within three to six months of filing. However, when you are in the middle of a divorce and decide to file bankruptcy, the automatic stay puts a stop to divorce proceedings. The only legal actions not affected by an automatic stay… Read More »

10 Ways To Rebuild Your Credit After Bankruptcy

Once you file for Chapter 7 Bankruptcy or Chapter 13 bankruptcy, it stays on your credit report for a number of years. However, that doesn’t mean it’s impossible for you to rebuild your credit in that time. In fact, your ability to rebuild your credit after bankruptcy is probably better than it’s ever been. It’s… Read More »

Debt Settlement vs. Chapter 13 Bankruptcy Explained

One alternative to bankruptcy is debt settlement. Debt settlement has its pros and cons, and we’ll talk about both in this blog—and why sometimes Chapter 13 bankruptcy might be the better answer. With debt settlement, you ask your creditors to accept less than what they’re asking for, effectively canceling a portion of the debt. It… Read More »

Is Chapter 13 Bankruptcy Right For Me?

You’ve made the decision to file for bankruptcy. However, you’re not sure if you should file for Chapter 7 or Chapter 13. This blog will discuss Chapter 13 bankruptcy and its pros and cons. If you have a regular income with an ability to repay at least a portion of your debts, or you have… Read More »