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A Chapter 13 bankruptcy affords a debtor the opportunity to cram down certain secured debts to their actual value, not merely the principal balance owed. This concept essentially takes the principal balance owed on a secured debt that is "underwater" and reduces the secured ...
Read MoreWhen you are preparing to file bankruptcy, it is best to discuss with your bankruptcy attorney whether you have any judicial liens against your ...
View MoreOn Tuesday, Federal Bankruptcy Judge Stephen Rhodes determined that the City of Detroit is eligible for Chapter 9 bankruptcy, ushering in a legal ...
View MoreThe idea of going to court can bring trepidation to even the calmest individuals. This is especially true in bankruptcy situations, where financial ...
View MoreAccording to a story published in the Chicago Tribune on November 13, 2013, Chicago-area foreclosure filings rose nearly 30% in October 2013. This ...
View MoreBankruptcy law is complex and difficult to understand. Attempting to navigate the various rules, laws, and legal framework, not to mention completing ...
View MoreIn some Chapter 7 bankruptcies, particularly those where assets are found and thus available for distribution to unsecured creditors, and all Chapter ...
View MoreUnlike Chapter 13 bankruptcy , which is available to everyone, you must be eligible to file under Chapter 7 of the U.S. Bankruptcy Code. Since this ...
View MoreThe primary role of the Chapter 7 trustee is to administer your bankruptcy case. Once you file your Chapter 7 bankruptcy, a trustee is appointed to ...
View MoreIf you recall, a major theme of these posts, and bankruptcy in general, is the fact that assets can make a major difference not only in what chapter ...
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