Have the wheels come off your Chapter 13 bankruptcy plan? All is not necessarily lost if you find you can’t make the monthly payment in a confirmed Chapter 13 case. There are several options to letting the bankruptcy case get dismissed for non payment. Plan modification The Bankruptcy Code allows a debtor to modify the [...]
Cathy Moran, California Bankruptcy Lawyer
If you’re paying minimum payments on credit card debt and have nothing saved for retirement, you are my favorite candidate for bankruptcy. The most compelling reason to file bankruptcy is so you can spend money on retirement savings. If you want to be self sufficient and live even a moderately comfortable life in retirement, it [...]
Growing case law suggests that debtors should hope the bankruptcy court does not approve their car reaffirmation agreement. Huh?, you say. If you’ve agreed to reaffirm, and essentially waive the bankruptcy discharge as to the car loan in order to keep the car, why would you want the court to find that the car loan [...]
Two different clients recently have approached bankruptcy’s means test and the good faith test in Chapter 13 like Momma Grizzlies. Their assumption was that anything they spent on their children was beyond question when it came to qualifying for bankruptcy. One single mother assumed that she was entitled to deduct from the means test her [...]
Failure to withhold enough for taxes due post confirmation of a Chapter 13 bankruptcy can be fatal to the case. Some of the things that interfere with a debtor’s ability to fund a Chapter 13 plan are outside their control: job loss and illness come immediately to mind. But the preventable cause of many case [...]
The bankruptcy trustee can sell assets you no longer own under his avoiding powers for the benefit of creditors. What, you say? If it isn’t mine, what rights do my creditors have in those assets? It all depends on how you parted with property as to whether bankruptcy law allows the trustee to recover the [...]
