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HOW FILING CHAPTER 13 CAN SAVE YOUR HOME

When you file for Chapter 13 bankruptcy, you do not lose any property to the bankruptcy trustee nor does the bankruptcy filing affect your mortgage. However, although you won’t lose your home through the Chapter 13 bankruptcy process, you can still lose your...

MEETING OF CREDITORS – NOTHING TO FEAR

The Meeting of Creditors, also called the 341 Hearing, is where you meet with the trustee (not the judge) in your bankruptcy case. Creditors may attend but usually do not. The primary purpose of this hearing is to give the bankruptcy trustee the opportunity to ask you...

Consumers Could See Credit Scores Go Up

A report from the Consumer Financial Protection Bureau earlier this year suggested that credit reporting agencies should improve the accuracy of their reports and update their records more often.  Beginning July 1st, changes will be underway. FICO, the entity that...

Mortgage Company Violating Discharge Injunction

All too often a client completes a chapter 13 bankruptcy and immediately receives a letter from the mortgage company that the mortgage payment is still behind. This could be a violation of the bankruptcy discharge injunction by the mortgage company. It could lead to a...

Strip Off Junior Mortgage in Chapter 7?

The United States Supreme Court yesterday ruled that someone in chapter 7 bankruptcy cannot “strip off” a second or junior mortgage even if there is no value in the property securing the mortgage. An article about the case is available here.  Those of you...
Series: What is Schedule E Priority Claims?

Series: What is Schedule E Priority Claims?

Schedule E of the Bankruptcy Petition lists Priority Creditors. Priority Creditors are special unsecured creditors that still usually will get paid even though they are unsecured. The priority creditors that come up in most cases are domestic support obligations and...
Series: What is Schedule D, Secured Creditors?

Series: What is Schedule D, Secured Creditors?

Schedule D is where we list your secured creditors, the collateral securing each of those debts, and the amounts owed on each of those debts. Creditor, as you may know, means the person or company that you owe money to.  Secured creditor basically means you had to...
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