What happens when the debtor in bankruptcy dies or becomes incompetent before the case is closed? In the case of a Chapter 7, death or incompetency does not change anything. Because the Chapter 7 trustee is in charge of administering the estate for the benefit of the unsecured creditors, it makes sense that the case [...]
October 2009
Cars and reaffirmations were strange enough but with Household Goods things just get a little bit weirder. Reaffirmation is the process in a Chapter 7 bankruptcy in which the debtor wishes to keep an item that secures a loan. The debtor agrees to continue to pay for the item and the creditor lets them keep [...]
Reaffirmation is the process in a chapter 7 where the debtor agrees to re obligates themselves on a debt and the lender lets them keep the collateral. The debtor makes the payments and keeps the car etc. Reaffirmations of cars and things with wheels are treated very differently through the country even through out certain [...]
JUDGE LARRY WALTERS becomes the latest Ohio bankruptcy judge to agree that as long as you are contractually due on house you can deduct the monthly payments from the MEANS TEST even if you are surrendering the house. IN RE JANICE PHILLIPS This is important as the more Judges sign on to this concept the [...]
Bankruptcy doesn’t always mean you are going to lose your house, and in fact many people find filing Chapter 7 or Chapter 13 actually helps them keep their home. You will have to keep making your mortgage payments if you have a mortgage and want to keep your house after filing for bankruptcy. I [...]
 I wanted to share 13 tips from the FBI before filing bankruptcy. I often tell clients that lying to the court is a crime called perjury, but often they do not believe me. So many times you will hear of stories of debtors who filed bankruptcy and did not disclose assets such as a boat, [...]
