When it comes to bankruptcy, it’s important to know the limitations of a bankruptcy. One area we occasionally have people ask about is whether they can file bankruptcy or not if they have a trust. To answer this question, yes; generally speaking, someone with a trust fund is more than likely able to file a […]
Can I File Bankruptcy If I have a Trust Fund?
When it comes to filing a bankruptcy, one of the most frequently asked questions are “what should I tell my creditor’s after I have decided to file a bankruptcy?” One of the main issues that people with unsecured debt struggle with is the constant and harassing phone calls from creditors. In order to defer some […]
When you initially file a Chapter 13 bankruptcy your Trustee and creditors get a copy of a proposed plan. This tells the creditors how they are classified in the plan and how much you are estimating that they will be paid for the duration of the bankruptcy. Both the bankruptcy Trustee and the creditors have […]
You are only personally liable for the debt if you sign as a personal guarantor. What is that you ask? It is someone who ?guarantees? (hence the derivative ?guarantor?) to pay for someone else?s debt should they default on their obligation. It is quite like a co-signer but normally applies to business debt. As you […]
In the State of North Carolina, foreclosure hearings are held by the Clerk of Court or Assistant Clerk of Court, as judges rarely hear foreclosures. The Clerk of Court is only to hear cases involving “legal defenses.” Cases involving any other type of defense, such as defense of fraud cases, are to be handled through […]
Can a person who is not a legal resident of the United Stated file for bankruptcy in the US? According to 11 USC §109(a), any person that resides or has domicile, a place of business, or property in the United States or a municipality, can in fact file a bankruptcy. This means that anyone who […]
Once your case is filed with the U.S. Bankruptcy Court and the creditors are notified of the filing, your mortgage company may stop sending you the monthly statements for your house payment. This is a protective measure on their part. The mortgage company may be in violation of the federal bankruptcy automatic stay if they […]
Can I Still Use the Mortgage Deduction On Taxes If My House is Being Paid In A Chapter 13 Bankruptcy?
After filing Chapter 13 bankruptcy, you should confirm with your attorney whether the monthly mortgage payment is to be paid by you or the Chapter 13 bankruptcy Trustee. Often the mortgage payment is included in your monthly Chapter 13 payment and disbursed to the mortgage company by the Chapter 13 Trustee. Regardless of how the […]
Congrats! Your bankruptcy has been filed and now you are getting ready for your creditors’ meeting. Below are seven important things you need to know before your creditors’ meeting. First, you should have already made your first payment to the Trustee. If you have not done that you need to make that payment first thing […]
Congrats! Your bankruptcy has been filed and now you are getting ready for your creditors’ meeting. Below are seven important things you need to know before your creditors’ meeting. First, you should have already made your first payment to the Trustee. If you have not done that you need to make that payment first thing Monday morning […]