Can You Sell Your Home While in Chapter 13 Bankruptcy? If you're in Chapter 13 bankruptcy you can still sell your home but you must first get approval from the bankruptcy court before you close on the property. The bankruptcy court must approve the terms of the sale and your attorney must notify all of [...]
During the 3 to 5 years a debtor is in Chapter 13 bankruptcy, he/she cannot acquire new debt (credit cards, bank loans etc.) without the permission of the bankruptcy trustee. While in Chapter 13 bankruptcy the debtor is put on a credit diet so to speak to insure that he/she does not recreate the situation [...]
Delinquent Mortgage Payments and Bankruptcy After filing for Chapter 13 bankruptcy remaining current with your mortgage payment is a requirement of your Chapter 13 confirmation order. But as we all know, so much can happen over the 3 - 5 years of Chapter 13 bankruptcy. What if your income decreases drastically? What if you lose [...]
When people think about filing for Chapter 13 bankruptcy they often only think about their debts with companies such as credit cards and mortgage lenders. But filing for Chapter 13 bankruptcy requires that you list all debts including those personal loans you took out with friends and family. Failing to list all of your personal [...]
Chapter 7 and Chapter 13 filings have shot up 18% in Texas according to El Paso Times. But it's not just Texas, all over the country many ordinary citizens are finding themselves too financially strapped to pay for the basics of life in addition to all of the debt they have accumulated in the past [...]
An article in Business Week claims that that bankruptcy laws have backfired on mortgage companies because the new laws make it so much harder to file, causing many people to allow their homes to fall into foreclosed before attempting to file bankruptcy. This article is only partly right. Yes, filing bankruptcy takes a lot more [...]