A car accident is stressful for anyone. But if your vehicle gets wrecked while you are in the middle of a bankruptcy, you may feel even more worried. What happens to your case? Can you get a new car? Who gets the insurance money? Take a deep breath. This situation comes up more often than … Read more
While in a Chapter 13 bankruptcy, you must get permission from the bankruptcy Trustee to incur any new debt. This includes a mortgage if you want to purchase a new house. When you are serious about buying a new home within a Chapter 13 bankruptcy, you should let your bankruptcy lawyer know. They will get in contact with the Trustee for you and let him or her know that you would like permission to incur debt. They will file a motion with the court for this. Once the trustee makes a decision, the attorney will let you know.
You are in the middle of a Chapter 13 bankruptcy. You have been making your plan payments every month. Then life happens. Your car breaks down. A medical bill shows up. Your roof starts to leak. You remember you have money sitting in your 401(k). So you wonder: can I borrow some of it to … Read more
The short answer is yes. However, there is a bit of a process behind purchasing a vehicle in a Chapter 13. First, your budget needs to be reviewed. This requires your bankruptcy attorney to review your income and your expenses to make sure you can afford to have an extra payment in your budget. Once … Read more
When you enter into the union of marriage, you are not normally thinking that it will not last. Like most, you begin a life together and when creating a life together you may accrue a lot debt. Unfortunately, relationships change and often times the only solution is divorce. Just as the divorce affects your jointly … Read more
If you own a business or owned a business in the past and had employees, you were most likely required to file IRS Form 941 on a quarterly basis or IRS Form 944 on an annual basis. Form 941 is the quarterly report reflecting the taxes you withheld from your employees’ payroll checks as well … Read more
As many are aware, a Chapter 13 bankruptcy is known as a repayment plan to the court for the next three to five years. Whereas many would think that everyone in the bankruptcy receives an equal chunk of the payment; that is not the case. Previously in a Chapter 13 bankruptcy, you would have made … Read more
If you filed for bankruptcy and then heard that your case was "dismissed," you are probably worried and confused. You may be asking, "What does this mean for me? Did I lose my protection? Can I fix it?" Take a breath. A dismissed case is not the end of the road for most people. This … Read more
A few years ago when your home had equity, you obtained a Home Equity Line of Credit or HELOC to consolidate your debt and payoff credit cards, medical bills, personal loans, etc. It seemed like a great idea because you could eliminate all of your revolving debt and make only two payments each month…your first … Read more
It is possible to obtain a loan modification even if you have filed bankruptcy. At this time, most mortgage companies would rather work out a loan modification agreement, if viable, than to foreclose on your home. The last thing most mortgage companies want is another vacant house! Steps to Follow: Step #1: You should contact … Read more
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