Category: Chapter 13 Bankruptcy
How do I know where my Chapter 13 payment is going?
When you file Chapter 13 bankruptcy, you send one payment each month to the Chapter 13 trustee. But where does that money actually go? Who gets paid first? When will your car loan be paid off? These are fair questions. You work hard to send that money every month. You deserve to know how it … Read more
Chances of Success if You File A Chapter 13 Bankruptcy Pro Se (Without an Attorney)
Filing Chapter 13 bankruptcy without an attorney — known as filing “pro se” — is legally permitted. But the data on what happens when people try it is sobering. According to a study by the American Bankruptcy Institute, pro se Chapter 13 filers complete their cases successfully only about 2.3% of the time. That means … Read more
What Should I Expect At The End Of My Chapter 13 Case?
You have made your Chapter 13 payments for years. Now you are close to the finish line. You may be wondering what happens next. When does the bankruptcy actually end? When do your debts go away? And what should you do to wrap things up the right way? This is an exciting time. It is … Read more
Steps to File a Motion to Incur Debt in a Bankruptcy Case
While you are in your Chapter 13 bankruptcy, plenty of emergencies can come up that will make it crucial for you to incur debt. These emergencies can range from needing to get a newer vehicle or to pay for a costly, but necessary, medical procedure. Before you incur any debt a Motion to Incur Debt … Read more
Steps for Requesting a Reduction in Your Chapter 13 Plan Payments
So you’ve been making your monthly Chapter 13 payment and it hasn’t been easy. There isn’t a lot of wiggle room to begin with but some months have been better than others. Plus, you know you’re on track to save a lot of money by completing the Chapter 13 bankruptcy. Then life happens. It’s the loss of a job, unexpected medical situation or a variety of other reasons why you may not be able to afford your monthly Chapter 13 payment anymore. So what do you do?
What Is An Upset Bid Period?
An upset bid period is a time period that exists after a foreclosure sale. In North Carolina, after the sale of a property in a foreclosure there are ten (10) days for another party to offer a higher bid on the property or for the owner of the property to file a bankruptcy to stop the foreclosure.
Why Is Confirmation So Important In A Chapter 13 Bankruptcy?
If you have filed or are thinking about filing a Chapter 13 bankruptcy, you have probably heard the word "confirmation." It can sound confusing or even a little scary. But confirmation is actually one of the best things that can happen in your case. Confirmation is the moment your repayment plan becomes official. The court … Read more
Can I Still Use the Mortgage Deduction On Taxes If My House is Being Paid In A Chapter 13 Bankruptcy?
If you own a home and you are paying for it through a Chapter 13 bankruptcy plan, you may be worried about your taxes. You might wonder if filing takes away your home mortgage deduction. This is a fair question. Many people count on that deduction to lower their tax bill each year. The good … Read more
Ready to talk about your options?
We answer calls 24 hours a day. A free phone consultation takes 20–30 minutes and leaves you with a clear picture of your options — no obligation whatsoever.