Chapter 13 Bankruptcy

10 Jul Forcing the Mortgage Holder to Take Back a Home through Chapter 13

Using bankruptcy to surrender a home that has become unaffordable is nearly as common as using bankruptcy to stop a foreclosure so that a home can be retained. The question whether to keep a home when filing bankruptcy is usually answered by comparing the amount...

Read More

18 Jun Does Chapter 13 Mean Paying All Creditors Back? It Could Be Zero to Unsecured Claims

A 13 bankruptcy repayment plan does not necessarily mean that you must repay your debts in full. Don’t be scared off by a chapter 13 bankruptcy payment plan. It does not mean you have to pay everyone back in full with interest. After all, if you could afford to pay everyone back, you would not be thinking about filing a bankruptcy. It may mean you pay NOTHING to your general creditors, the ones without priority status or collateral. So, just how much do you have to pay back in chapter 13? The formula is simple, really.
Read More

12 May “Chapter 20” Lien Stripping Allowed by Fourth Circuit Appeals Court

The U.S. Court of Appeals, Fourth Circuit, has become the first U.S. Court of Appeals to approve "chapter 20" lien stripping. Although virtually all U.S. bankruptcy courts allow the "stripping" (vacating and eliminating) of completely unsecured junior mortgages on homestead real estate, the Fourth Circuit...

Read More