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?
Secured debts are those where the creditor has a security interest in property. Normally, a security interest is obtained in writing, such as a deed of trust on a home, or by taking a lien against a car title. Sometimes, security interests arise when a seller finances the item, such as jewelry purchased at a [...]
When Do You Need to File Bankruptcy? Bad things do happen to good people, but you can file bankruptcy to help. If you are overwhelmed with debt, filing bankruptcy may be a wise choice. Signs that tell you filing bankruptcy may be urgent: More than one month behind on mortgage, with no plan to [...]