When a debtor files bankruptcy, an estate is created. The estate includes all of the person’s legal and equitable interests in property at the commencement of the case, and may also include any property the debtor becomes entitled to during the 180 day period following the filing of the bankruptcy case. However, debtors can exempt […]
THE TROUBLE WITH LOAN MODIFICATIONS
A quick search of the internet will show that loan modification programs have been generally unsuccessful. In my practice as a bankruptcy attorney, I encounter debtors every day who are trying to save their home through a loan modification. After months of submitting and resubmitting documents, jumping through one hoop after another, they are usually […]
THINGS NOT TO DO IF YOU THINK YOU MIGHT FILE BANKRUPTCY (PART 2)
I recently wrote an article about what not to do if you think you might file bankruptcy. About halfway through the article I realized that there is a lot of information on this topic, so I divided it into two parts. The following list consists of what not to do if you intend to file […]
VOLUNTARY DISMISSAL OF CHAPTER 13 BANKRUPTCY CASES
The Bankruptcy Code allows debtors in Chapter 13 cases to voluntarily dismiss their bankruptcy case at any time. The ability to dismiss a case can be useful in many different situations. For example, when plan payments are higher than anticipated when the case is filed, debtors may wish to have their case dismissed. It is […]
WAITING TO FILE CHAPTER 13 BANKRUPTCY COULD COST YOU!
Most of the time, when a client comes into my office to talk about filing bankruptcy, they have urgency to file. We can usually point to a single event that has caused them to seek out legal advice. Perhaps they received notice of a foreclosure sale, their car has been repossessed, or creditors are hounding […]