People think that when they file bankruptcy they will lose everything. That’s hardly the case. People always ask if they can keep their car. In most cases, they can. I always ask my clients if they own or lease their car? Leased cars You can continue to lease the car after bankruptcy if you continue [...]
February 2010
I picked up two newspapers today and one said the housing market is coming around, and the other said foreclosures are up 15% from the same month last year. The reality is the numbers don’t mean anything when people are losing their homes. In January 2010, over 315,000 households in the United States received a [...]
You can get a false bankruptcy petition sealed if it is dismissed. And you may get attorneys fees, damages and costs as well.
If the amount of the first mortgage on a property exceeds the value of the property, it is generally accepted that in Chapter 13, or 11 or 12, a second mortgage or any other junior lien can be avoided, or “stripped off,” and treated as unsecured debt. However, conventional wisdom is that it cannot be [...]
It’s rare, but it is possible for creditors to force you into bankruptcy. If you have less than 12 creditors, just one creditor can file an involuntary bankruptcy petition. Otherwise, three creditors must join in filing a bankruptcy case against you.
