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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 ...
The idea of going to court can bring trepidation to even the calmest individuals. This is especially true in bankruptcy situations, where financial ...
Bankruptcy law is complex and difficult to understand. Attempting to navigate the various rules, laws, and legal framework, not to mention completing ...
In some Chapter 7 bankruptcies, particularly those where assets are found and thus available for distribution to unsecured creditors, and all Chapter ...
Unlike 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 ...
The 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 ...
If 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 ...