Stop foreclosure sales with Chapter 13 bankruptcy

Bankruptcy, chapter 13, foreclosure saleLeave a commentTerrance Leeders

Faced with a sale date on your property? Think all is lost? It isn't! You can stop a foreclosure sale before your home is gone for good with a chapter 13 bankruptcy.A chapter 13 can cure your mortgage default, get you a better deal on most financed items, including cars, and can discharge your unsecured debts, often at pennies on the dollar!The bankruptcy code gives debtors who ran into a rough patch the ability to right the ship and get back on track with a chapter 13 repayment plan. The...

Tax refunds in Illinois bankruptcy cases

Bankruptcy, tax refund, trusteeTerrance Leeders

As 2010 winds to a close, we hope you are enjoying your holiday season and we wish you the best for the New Year. Tax refund time will be approaching soon, so this post includes a few tips to help your bankruptcy case go smoothly in the new year. When it comes time to meet with the bankruptcy trustee after we file your case, they will ask you about your tax refund. Here are some general tax refund tips to help you most debtors avoid any problems when they file the case:

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Recent Bankruptcy Statistics…Bankruptcy is alive and well in the US

Bankruptcy, bankruptcy filings, chapter 13, chapter 7, economyTerrance Leeders

Spurred by the down cycle in the mortgage business, a downturn in the economy (Recession? what recession? ) or else just credit providers providing more credit than should be given, we have seen a recent rise in bankruptcy filings both in Illinois and throughout the country. I came across this article from the AP which spells out the numbers for you.

March 3, 2008, 4:08PM Bankruptcy Filings Up 15 Percent in Feb. ...

Reopening a chapter 7 case

Bankruptcy, chapter 7, judge, reopen caseTerrance Leeders

I receive several inquiries about reopening a chapter 7 case once the case is closed.

This is possible to do, however it is subject to court approval.
1. The debt must have been incurred before the date your case was originally filed.
2. The court charges an amendment fee of $26 to add on debt to a case.
3. There is also a reopen fee to reopen a case once it is closed, $260 for Chapter 7.
4. Your attorney may charge an additional fee to do the work for you.
5. This must be done...

Bankruptcy Questions and answers

Bankruptcy, bankruptcy court, chapter 13, chapter 7, trusteeTerrance Leeders

Here is an updated bankruptcy question and answer session. As you can see there are many bankruptcy issues that can sway a case one way or another. Hold tight, here we go.

Chapter 7 and Lump sum SSDI payment

Question
My daughter applied for SSDI over 2 1/2 years ago. Her husband left her 2 years ago. Their divorce comes up in March. She just received a lump sum payment from Social Security for her disability. She has not paid any of her credit...

Blockbuster fees

Bankruptcy, blockbuster, comparison shop, fees, price increaseTerrance Leeders

I received an interesting email from Blockbuster yesterday. They are increasing fees from $17.99 to $19.99. This comes on the heals of the plan modification they put thru just several months ago....eliminating the free in-store game rental coupon each month as well as capping the in-store exchanges at 5. I understand that companies need to make a profit, but this is ridiculous. I emailed them back both times, but got a canned letter about profits, and providing quality service and the...

Substantial Abuse, Bankruptcy Planning & Chapter 7 bankruptcy

Bankruptcy, bapcpa, case law, chapter 7, substantial abuseLeave a commentTerrance Leeders

What does one have to do, or in this case from Wisconsin, NOT DO, to create substantial abuse ?RECENT CASES: Feb. 6. 2007Chapter 7 Debtor who fails to aggressively seek out work before the case is subject to dismissal based on the totality of the circumstances. 'Substantial abuse' is now just 'abuse.'The court noted: " ... this Court concludes that a debtor who lacks the ability to pay because she has not engaged in a broad employment search, does not wish to work outside her chosen field,...

Surrender Vehicle in Chapter 13 – Creditor allowed an unsecured deficiency balance

Bankruptcy, chapter 13, chapter 13 plan, Judge Schmetterer, Judge Squires, surrendered vehicleLeave a commentTerrance Leeders

Northern District of Illinois - Eastern Division Chicago Bankruptcy Judge Squires recently ruled in the chapter 13 case of Linda J. Blanco, 06B 13223, where debtor tried to surrender a vehicle in full satisfaction of the claim owed. Judge SquiresThe Court held that "the Debtor may not surrender the collateral in full satisfaction of the debt to the Creditor. The Creditor is entitled to seek its available state law remedies, including its right to an unsecured deficiency claim after...

Chapter 13

adjustable rate mortgage, ARM, Bankruptcy, chapter 13, chapter 7, consolidation, credit cards, foreclosure, interest rate, medical bills, mortgage, mortgage defaultTerrance Leeders
Chapter 13 Stop mortgage foreclosure
Keywords: chapter 13, bankruptcy, foreclosure, consolidation, chapter 7, mortgage, mortgage default, credit cards, medical bills, interest rate, ARM, adjustable rate mortgage
Stop Foreclosure
Yes, you can save your home!

Using the chapter 13 can strategically help you cure your mortgage default, protect your equity and eliminate your other debts to help you right the...