Some people own property that cannot be protected in bankruptcy (non-exempt property). One option for property that is not exempt is the possibility of “buying back” non-exempt property from the trustee in a Chapter 7 bankruptcy. This is where the debtor has exempt funds available that can be used to "bid" on his own [...]
The primary federal bankruptcy exemptions are listed below. Keep in mind, the amounts periodically change. Deciding what exemptions you are entitled to use and which are best for you is an important and complex decision your bankruptcy attorney will review with you. If you don’t have a lot of equity in your home, your [...]
In all Chapter 13 cases, your 341 hearing will be held by Zoom video. You may connect by Zoom from home or come into our office. In Chapter 13, you will also have a Confirmation Hearing where the Judge will approve your plan. Ordinarily, you are not required to appear at the confirmation hearing. [...]
Chapter 13 Bankruptcy may help you save your vehicle by allowing you to catch up the payment and stop any repossession. In certain cases, the payment may be lowered by paying for the vehicle through the Chapter 13 plan. Catch up on Past Due Vehicle Payments Chapter 13 bankruptcy may be an important tool [...]
Your Chapter 7 bankruptcy 341 hearing will be held virtually on the Zoom platform. The US Trustee has released some informative videos on Common Questions About the Meeting of Creditors and even a video showing what a typical chapter 7 hearing is like.
Loans where you have pledged certain household goods (that you already owned at the time of the loan) as security may be avoided in bankruptcy. This means you can have the lien released, keep the goods and discharge the debt. When times are hard, you may find yourself making a loan from a finance [...]
Occasionally, a debtor has a judgment that has already been enrolled in the land records and attached to his homestead. While a creditor generally cannot take a homestead and force a sale to pay the judgment, the judgment is attached to the homestead, clouding the title and accruing interest. Bankruptcy may be used to [...]
What is redemption in bankruptcy?
If you have secured debt, such as a home or car that you want to keep, you may be able to keep the property in a Chapter 7 bankruptcy by continuing to pay for the property according to the contract and using reaffirmation agreements. This means that you agree to keep making payments as [...]
How to decide between chapter 13 and chapter 7. What is the difference, cost and time for each?