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Don’t Abuse Emergency Bankruptcy Filing Process »

Last year on this blog, my colleague Pam Stewart wrote a post that explains the emergency bankruptcy filing process.  As Pam notes, situations do arise in which an individual needs to file bankruptcy immediately but does not have time to gather all of the documentation needed for a complete filing.  An emergency filing allows a [...]

What is a “Consent Order”? »

You’ve fallen behind on your mortgage payments after your Chapter 13 case has been filed. The lender has filed a Motion to Lift Stay. Will you lose your home? Not necessarily, thanks to a Consent Order.
In many cases, the mortgage lender will give you one more change to get caught up. The way this is [...]

What is an Adequate Protection Order? »

It is not uncommon for debtors in Chapter 13 to fall behind on their trustee, mortgage, or car payments due to circumstances outside of their control.  In such situations, secured lenders will move for relief of stay, which is a motion to allow them to proceed with their normal remedies outside the jurisdiction of the [...]

Can I Include My Foreclosure In My Bankruptcy? »

Can a house that has been foreclosed on be included in a Bankruptcy?
A foreclosure proceeding is used by a creditor to seize and sell a house on which the creditor holds a mortgage.
If you live in a State such as Louisiana that allows the creditor to get a deficiency judgment, and if the creditor did not get all of [...]

What Is An Automatic Stay? »

What is an Automatic Stay?
Creditors have many weapons in their arsenal to try to collect on  a debt:

Repeated telephone calls to your house;
Repeated telephone calls to you at work;
Letters, Letters, Letters;
Letters from an attorney;
Lawsuits;
Garnishments.

And this in when the creditor is being nice.
When someone files for bankruptcy they get what is called an automatic stay.
The automatic [...]

I’m in Chapter 13 and Behind on Mortgage Payments Again–What Now? »

Many of my clients end up in bankruptcy because of a series of unfortunate events.  Sometimes those events continue after the case is filed, and their troubles continue.  When you file a Chapter 13 payment plan, you are generally required to keep making your regular mortgage payments, or resume making those payments if you have [...]

Should You Withdraw Money From Your Pension To Pay Your Debts? »

Thinking about filing bankruptcy? Wondering if you should just take money from your pension to pay debt? Don’t do it until you watch this video.
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Chapter 7 Bankruptcy May Give (Temporary) Relief from Collectors »

Filing  Chapter 7 bankruptcy will stop collection efforts of your creditors, however that relief may be temporary if your debts are of the kind that are not discharged in bankruptcy.
Some debts, like student loans, child support, many taxes, and a few others, are not discharged by bankruptcy.  However you may experience some relief from their collection for [...]

Why File A Response In A Chapter 7 Motion For Relief From Stay? »

Courts may grant a Motion for Relief from Stay in a Chapter 7 if it was filed because a debtor is behind on the mortgage when filed, and there is no equity in the property for creditors.  Chapter 7 is not designed to stop foreclosures to give people time to catch up on their mortgages.  [...]

Bankruptcy Judge Can Order Conversion from Chapter 13 to Chapter 7 »

Your decision to file for bankruptcy should involve a great deal of thought and discussion with both your loved ones as well as your legal counsel.  Once filed, a bankruptcy carries with it some significant consequences.
First, your credit will be affected if you are bankruptcy for one day, one month, one year, or longer.  Credit [...]