If I Am Facing Bankruptcy, Will I Need To See A Judge?

The term Bankruptcy Court does not always mean what it does in the traditional sense of Court. Like any other legal proceedings, a Judge does oversee the bankruptcy process. However, the debtor will not need to appear before a Judge. The bankruptcy attorney may need to appear before the judge if certain circumstances arise, but … Read more

The Chapter 13 Claims Process

In a Chapter 13 Bankruptcy there is a claims process that occurs among the parties.  In simplicity it works as follows: — the creditor receives notification of the Bankruptcy from the Court — the creditor files a “proof of claim” with the Court showing the debt and proof of how it is owed —  during … Read more

How Bankruptcy Permanently Stops Foreclosure

How Chapter 13 Bankruptcy allows you to Permanently Stop a Foreclosure Filing for a Chapter 13 Bankruptcy is one of the best ways to permanently stop a foreclosure.  The reason for this is simple:  because the creditors have no choice but to stop the foreclosure in the Bankruptcy and allow you to put together a … Read more

How Attorney Fees Work with a Chapter 13 Bankruptcy

A Chapter 13 Bankruptcy requires that you put together a “plan” that determines how various creditors or interested parties will be treated.  In this plan the client pays a trustee who is appointed by the Court.  The Trustee then distributes the money according to your plan.  One of the main benefits of Chapter 13 Bankruptcy … Read more

Cost Of Bankruptcy

Bankruptcy provides a tangible benefit for people who file.  These can best be summarized as: (1) receiving a discharge from debts they would normally be required to pay; and/or (2) being allowed to restructure certain debts and pay repay them on different terms. However, like anything in life in order to get something (a benefit) … Read more

The Wildcard Exemption

Federal Bankruptcy Exemptions One of the main policy objectives of Bankruptcy is to give debtors a fresh start.  A fresh start entails allowing the debtor(s) to continue on with their life – but also not allow them to have a leg up.  Different state legislatures have codified this general concept into their own exemption laws … Read more

Tax Refunds In A Chapter 13

The treatment of income tax refunds in bankruptcy cases can catch people by surprise.  If you have not received your tax refund before the case is filed, it must be listed on the Schedule of Personal Property.  In many cases, the refund can be protected, but not always. Make sure that you consult with an experienced Plano … Read more

How Much Will Your Payment Be In Chapter 13

The Required Secured and Priority Payments Chapter 13 is used to pay back certain items that the Debtor cannot pay back on their own outside of the Bankruptcy.  Some typical examples would include mortgage arrears, vehicles, IRS priority taxes, and Domestic Support Obligation Arrears. Generally, the repayment terms within the Chapter 13 are better inside … Read more