Filing a Chapter 13 bankruptcy lets you do things you couldn’t otherwise do in a Chapter 7 bankruptcy. One of the things you can do is “cram down” a vehicle. It sounds a little violent, and I’m sure it feels that way to an auto lender. Here’s how it works. Let’s say you owe $20,000 [...]
bankruptcy courts
A second mortgage lien in the wife’s individual Chapter 13 bankruptcy case has been stripped by a Court, even though the mortgage and lien were in the name of the wife and her non-filing husband. Eastern District of Michigan bankruptcy Judge Rhodes wrote the opinion, finding the debts totally unsecured. In each case, it was [...]
Chapter 13 bankruptcy is especially well tailored to middle and upper middle class Americans who are having financial difficulty. In a Chapter 13 creditors get paid back at least some of what they are owed, and debtors participate in an affordable payment arrangement administered by a Chapter 13 Trustee. Chapter 13 is usually a win-win [...]
Chapter 7 bankruptcy is a wonderful way to eliminate your debts, but a complex process. You may be wondering how the process works. For many filers, bankruptcy can be an overwhelming process, but understanding how bankruptcy works can make the process a bit less frightening. Here are the 9 steps involved with filing Chapter 7 [...]
