Whether you are filing a Chapter 7 or a Chapter 13 bankruptcy, the thing you are ultimately looking for is your discharge or what is officially termed as an Order of Discharge. This document means that that your case is over and the bankruptcy proceeding is closed. This is an important document and should be […]
For those who file or are contemplating filing a Chapter 7 Bankruptcy and own a home, it is important to know about a document which is termed a “Proposed Order of Abandonment.” For some reason, many bankruptcy practitioners fail to explain it and in some cases, even address this most important document. It is especially […]
For some people, filing a bankruptcy is simply not an option, whether it is due to personal beliefs or something else. What then is someone to do to clear away their unwanted debt? The answer for some is to consider what I term a “workout”. As the name may imply, a workout is where one […]
The majority of my blogs concern bankruptcy and the nuances pertaining to its system, function or procedures. This blog, however, will discuss the possible ramifications of one losing their home to foreclosure without ever having filed for bankruptcy protection. Let’s face it, some people would do anything to avoid a bankruptcy filing for whatever the […]
The following is a true story. I have changed names and the like to protect the privacy of the parties. That being said, this story is true and reflects how the use of both a bankruptcy and loan modification can be used to save one’s home from a pending foreclosure sale. Ms. X came into […]
Chapter 13 bankruptcy is a type of bankruptcy filed solely by individuals. It is a type of bankruptcy filing where the individual is paying some of his creditors back something. A Chapter 13 sets forth a “plan” which specifies who will be paid what per month and over what period of time. A Chapter 13 […]
On October 17, 2005 the United States Bankruptcy Code underwent massive revisions. One of the changes concerned the new requirement of having to take two (2) courses as part of any bankruptcy filing. Section 109(h) of the United States Bankruptcy Code makes one ineligible to file for bankruptcy unless within the 180 days prior to […]
You have scheduled an appointment to meet with an attorney to discuss your financial situation along with a possible bankruptcy filing. What should you expect to bring in for the meeting? For some unexplainable reason, many law offices simply schedule an appointment for you with no documents being requested. I consider this to be a […]
Within a few days of your Chapter 13 bankruptcy petition being filed a 341A hearing will be scheduled. This hearing is also referred as a 341A Meeting of Creditors. The United States Bankruptcy Code 11 USC § 341 is what authorizes this hearing. As the name suggests, creditors may attend this hearing and ask questions […]
Many people in New Jersey who are facing a foreclosure have turned to a loan modification in an attempt to save their home. The loan modification can be done on your own or with the aid of a third party, such as an attorney. You do not need to have anyone do this for you. […]