One of the benefits of filing Chapter 13 bankruptcy is that you can sometimes cram down secured debt on vehicles. This means that you can force a creditor to accept repayment of a loan by paying the value of the vehicle rather than the entire claim. Chapter 7 bankruptcy has a similar tool available to […]
Cities Filing Bankruptcy
The CEO of JP Morgan has recently stated that municipality bankruptcies (cities filing bankrutpcy) are on a rise. This is yet another effect of the recession – with income on the decline and foreclosures on the rise, cities are losing precious tax revenue and having to cut necessary services. Analysts are looking to these cities […]
Dallas Bankruptcy: HOW LONG WILL IT STAY ON MY CREDIT REPORT?
Dallas Bankruptcy: How long will it stay on my credit report? It depends on what Chapter you file under. Chapter 13 bankruptcy cases will stay on a credit report for seven years from the date the case is filed. Most Chapter 13 bankruptcy cases last five years, so after the case is completed the bankruptcy […]
Dallas Bankruptcy Lawyer: CHAPTER 13 – WHAT IS ADEQUATE PROTECTION?
Dallas Bankruptcy Lawyer: CHAPTER 13 BANKRUPTCY- WHAT IS ADEQUATE PROTECTION? Adequate protection is a term used to describe payments made to some types of secured creditors, which protect them against depreciation of the value of their lien. For example, a creditor who has a lien attached to a car has a secured claim valued up […]
DALLAS BANKRUPTCY: WHAT TO BRING TO YOUR FIRST APPOINTMENT
Dallas Bankruptcy: Your bankruptcy attorney will need you to provide information so that he can determine whether you should file bankruptcy, whether you are eligible to file bankruptcy, and if you are eligible which chapter will be best for you. In order to answer these questions, it is helpful if prospective bankruptcy debtors bring information […]