A fee only chapter 13 plan is one in which there is zero or very little money to pay creditors in a chapter 13 plan. It is not to be confused with a zero percent plan where secured and priority creditors are paid, but general unsecured creditors get nothing. Why would anyone propose such an…
Your bankruptcy trustee does not work for the court. It is a common public misconception that he does. When you file bankruptcy normally your only contact with the system is the meeting of creditors. The assigned bankruptcy case trustee presides over it. The creditor meeting is a part of your case that is required by…
The repo man is one of the best reasons to see a bankruptcy lawyer. I have run into two situations lately that deserve comment here. The first involved a former client. I did two chapter 13 cases, the last of which he converted to chapter 7. He had the same motorcycle through both cases. He…
Venue in bankruptcy court is the location in which your case will be filed and heard. Just like anything else this is controlled by a provision of the bankruptcy code. The rules for venue are simple. Venue is proper in the judicial district where for the 180 days prior to filing your petition you have…
If you expect a big tax refund and need to file bankruptcy gear up for the big money grab. Unfortunately it is not for you and I. It is for the assigned chapter 7 panel trustee and by extension your creditors. I try to preserve as much of the refund for you and your family…
If you are a spouse. a former spouse or an ex the bankruptcy code has something for you! You figure into the scheme of things in a variety of ways. For more topic specific explanations click the links within each paragraph: Present spouse Joint bankruptcy filing Married couples can file a bankruptcy case, even if…
The reaffirmation agreement is nothing new in bankruptcy law. It is basically an agreement that you will continue to pay on a debt, even though you have been discharged in bankruptcy. The debt normally addressed by a reaffirmation agreement is a secured debt. I have only done one for an unsecured creditor, but we later…
Eight years between Chapter 7 bankruptcy cases. Many who come to me really don’t pay attention to what was taken away from them by government in bankruptcy reform. Few understand the years required between their old and their new bankruptcy cases. These break into four classes: Eight between filing chapter 7 bankruptcy cases. Six between chapter…
You finally decide to file bankruptcy. I do not expect you to be a lawyer, or to even know the law. There are two things you should never ever do financially, especially in the lead up to bankruptcy. Each basically involves debt consolidation instead of bankruptcy. When should you do them? NEVER! The things you…