Monthly Archives: March 2022
Understanding The Role Of The Bankruptcy Trustee
In a traditional lawsuit, there are two sides, a plaintiff and a defendant, and they square off against each other. Sometimes, there may be other parties, or third parties, but no matter how many parties there are to a lawsuit, they all have a stake in the outcome, and they all have the potential… Read More »
Should You Pay Off Your Chapter 13 Repayment Plan Early?
Many people who enter into a Chapter 13 repayment plan have a common concern: What happens if I can’t pay off the payment amounts for the duration of the plan? In other words, what happens if my income decreases, I’m laid off from work, I get sick, or something else happens where I can’t… Read More »
Rebuilding Credit After Bankruptcy
We have written in the past about how bankruptcy can affect your credit. Your credit will be negatively affected by your bankruptcy, but the news is not all bad—in fact it may be better than you think. The dip your credit may take after bankruptcy may be better and shorter lived than the continuing… Read More »
How Does Bankruptcy Handle Secured Property?
Secured loans are loans where the creditor can take property back if the loan is not paid. The most common loans are for our home and vehicles where the creditor can foreclose on the home or repossess the vehicle if the loan is not paid. Can They be Discharged? Secured loans can be discharged… Read More »
Will Bankruptcy Leave You Debt Free? It Could…But Doesn’t Always
Bankruptcy can seem to work miracles for many people, and can be the key to a fresh start and a new financial future. But the myth that you will walk away from bankruptcy owing nothing to anybody isn’t quite true—at least, not for all people. Non-Dischargeable Debts There is a certain category of debts… Read More »
How Will COVID Relief Act Bankruptcy Changes Help Individuals File For Bankruptcy?
As part of the CARES act signed in March 2021 of this year, the government has provided more relief for people filing for bankruptcy. Some of those changes related to business bankruptcy and Chapter 11, specifically, changes to commercial relations between bankruptcy tenants and their landlords. But in March 2021, many additional changes were… Read More »
Can You File Multiple Chapter 11 Bankruptcies?
When it comes to Chapter 7 and Chapter 13 bankruptcies, there are strict limits on how many times you can file for bankruptcy. Usually, it’s around 7 years, although that can vary depending on the circumstances. But regardless of the circumstances, you are often limited to waiting a significant amount of time before you… Read More »
How Long Will Bankruptcy Remain On My Credit?
One concern that a lot of people have when they file for bankruptcy is how long their bankruptcy will show up on their credit report. Although the answer to that question may not be what you may have wanted to hear, there is some good news that goes beyond the number. How Do Credit… Read More »