Texas Chapter 13 Modification Reasons for Modifying a Chapter 13 Bankruptcy Plan Many debtors mistakenly believe that a Chapter 13 bankruptcy is a repayment "prison" where they are stuck paying a certain amount of money for 3 to 5 years regardless of how their circumstances change. Well, that couldn't be farther from the truth. The [...]
A Chapter 13 bankruptcy is designed to allow debtors the opportunity to repay creditors over a three to five year period while keeping their assets. The amount of debt that is to be repaid and the monthly payments required is determined at the start of the bankruptcy case but this amount is not fixed and [...]
Minimum Payment Requirement in Chapter 13 Bankruptcy There is a minimum payment requirement in Chapter 13 bankruptcy but it will vary from district to district and depend on several factors. The amount of debt that you must pay in the Chapter 13 bankruptcy repayment term is one factor. There will be certain types of debts [...]
When it comes to choosing a bankruptcy chapter, many debtors prefer Chapter 7 bankruptcy because it allows them to discharge most or even all of their unsecured debts, while Chapter 13 bankruptcy requires that they repay part or all of them debts over the course of 3 to 5 years.. Benefits of Chapter 13 bankruptcy [...]
Filing for Chapter 13 Bankruptcy? Below is a checklist of things that are required to file Chapter 13 bankruptcy: The names and addresses of all creditors that the debtor owes. The names and addresses of creditors must be filed with the bankruptcy petition. The debtor must include copies of all pay stubs or other proof [...]
Defaulting on Chapter 13 Bankruptcy A Chapter 13 bankruptcy repayment plan can last anywhere from three to five years. In the course of a Chapter 13 bankruptcy plan a lot can happen. Losing a job, facing a salary reduction or even facing an illness can make it impossible to complete a Chapter 13 bankruptcy plan [...]
Your Steps to Success With a Chapter 13 Bankruptcy Like most things worth doing, Chapter 13 bankruptcy is a process that requires a commitment of time and discipline; but the rewards at the end of Chapter 13 bankruptcy could leave you completely debt free and on your way to a financially successful life. Below are [...]
Filing Bankruptcy on Reverse Mortgage Reverse mortgages, which allow senior citizen homeowners the opportunity to borrow against the equity of their home and defer repayment of the loan until after they move, sell the home or are deceased, are often used to make retirement financially easier. But one of the drawbacks of a reverse mortgage [...]
Falling Behind in Mortgage Payments During Chapter 13 Bankruptcy Falling behind in mortgage payments in Chapter 13 bankruptcy can create a series of events that lead to foreclosure. After the Chapter 13 bankruptcy debtor has failed to pay their mortgage for about 2 to 3 months, the mortgage company's attorney will send a letter giving [...]
Many debtors use debt consolidation in an attempt to repay creditors after their finances spin out of control. But in many cases debt consolidation fails to help debtors repay their creditors and get on their feet. Many debtors waste money in debt consolidation schemes and eventually end up filing bankruptcy after years of avoiding it, [...]
