Will My Payments Change in a Chapter 13 Bankruptcy If I Lose My Job?
/in After You File, Bankruptcy, Bankruptcy Video Vault, Chapter 13, Creditors, Duncan Law Blog, Video/by Damon DuncanWill Bankruptcy Stop Creditor Phone Calls and Harassing Contact?
/in After You File, Automatic Stay, Bankruptcy, Chapter 13, Chapter 7, Creditors, Duncan Law Blog, Video/by Damon DuncanYes, once a person has case number after filing either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, a creditor is prohibited from trying contact the debtor in any attempt to collect a debt.
What to Expect at the Creditors’ Meeting
/2 Comments/in Bankruptcy, Chapter 13, Chapter 7, Creditors, Creditors Meeting, Duncan Law Blog/by Damon DuncanWhether you are filing a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, you will be required to attend a creditor’s meeting (also known as a 341 Meeting of Creditors). The Court schedules the date and time of your creditors meeting after your bankruptcy has been filed and a bankruptcy Trustee has been assigned to your case.
Who is a Bankruptcy Trustee and What Do They Do?
/8 Comments/in After You File, Bankruptcy, Chapter 13, Chapter 7, Creditors, Creditors Meeting, Duncan Law Blog/by Damon DuncanA trustee is an individual appointed by the federal government in charge of overseeing bankruptcy proceedings. Chapter 7 bankruptcy and Chapter 13 bankruptcy trustees are usually bankruptcy attorneys or accountants.
What is a Reaffirmation Agreement?
/10 Comments/in Bankruptcy Video Vault, Chapter 13, Chapter 7, Creditors, Video/by Damon DuncanA reaffirmation agreement is a legally binding document filed with the bankruptcy court in which you agree to keep making payments on a debt. For example, you are required to sign a reaffirmation agreement if you would like to retain personal property, such as an automobile, and keep making payments after filing your bankruptcy.
Confessions of Former Debt Collectors via CNN
/1 Comment/in Bankruptcy, Creditors, Duncan Law Blog, Foreclosure, Repossession/by Damon DuncanToday CNN is running an eye opening article about the tactics and strategies used by debt collectors or creditors. The article covers 10 different people who used to call and harass people for a living. They unveil some of the extreme tactics that creditors use to get money from debtors. A common theme that is seen throughout the ten different stories is the fact that these people make their money by collecting money.
Many of these creditors are on commission and the more money they bring in the more money they make for a living. Is this the best way to ethically collect debt? We too often see that creditors will bend or even break consumer protection laws simply to make a little more money. If they aren’t being commissioned then maybe there would be more civility in the debt collection profession. Regardless, this is a great article by CNN – check it out. The article is called Confessions of Former Debt Collectors.
Should I Get a Credit Report Before I File Bankruptcy?
/in After You File, Bankruptcy, Bankruptcy Video Vault, Chapter 13, Chapter 7, Credit, Creditors, Duncan Law Blog, Video/by Damon Duncan[youtube]http://www.youtube.com/watch?v=lMQM4pLuNac[/youtube]
Although, it’s important to keep statements that you receive in the mail regarding your debts, you should also consider obtaining a credit report.
For many people, it is difficult to remember original creditors, collections agencies, amounts owed, and so on from years past. A credit report is a great way to visually see all of your debts listed out for you, especially if you did not keep statements. Our recommendation would be to look at your statements first, then back it up with a credit report. For many people, this will cover your bases in regards to who you owe, but remember this does not guarantee to be all of your creditors. This is why it’s important to keep up with your statements and also view your free credit report yearly. By doing this, it allows you to see whom you owe, if it’s accurate, and when and where the debt was incurred.
You are entitled to a free credit report every 12 months from www.AnnualCreditReport.com. It is one of the only legitimately free places to obtain a credit report. It will not, however, give you your actual credit score. Use this website, if you have not already done so in the past 12 months, to view your debts and names of your creditors. We recommend checking this annually so you can be sure the creditors on your report are accurate. When filing bankruptcy, it is essential that all of your creditors are listed, so be sure to use both statements and a credit report to back up what you already know regarding your debt.
It’s also a good idea to be sure you get your free credit report again a few months after you file bankruptcy. It will help you rebuild your credit after bankruptcy.
What If I Get Behind On My Chapter 13 Bankruptcy Payments?
/in After You File, Bankruptcy, Chapter 13, Creditors, Duncan Law Blog/by Damon DuncanEach month the Trustee receives a payment from you, he will distribute payments to your creditors based on a priority as established by the Chapter 13 plan. If you do not make a payment to the Trustee, he will not distribute payments to your creditors.
Can I Go to Jail If I Do Not Pay My Debts?
/in Bankruptcy, Bankruptcy Video Vault, Chapter 13, Chapter 7, Credit, Creditors, Duncan Law Blog, Exemptions, Video/by Damon DuncanThese are common questions that many people have about bankruptcy. In an effort to provide you with information we have provided these frequent questions. However, it is important to realize that each state has different rules and these answers are not meant to be legal advice. Contact a bankruptcy attorney to learn more.
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