Posts

What happens at a Creditor’s meeting?

After your bankruptcy case is filed, you will need to make one appearance at what is called a meeting of creditors, or 341 meeting. This is supposed to be within 20-40 days after filing, and while it’s usually pretty close to about a month,…

Will Bankruptcy Stop Repossession of a Car?

Yes. There is an automatic stay that protects you the moment your case is filed, and nobody can take your assets while the stay is in effect. But keep in mind, in a chapter 7, the ten word rule covers most of what you need to know, and that…

Will I still have a judgment after bankruptcy?

The bankruptcy discharge makes the judgment “void,” meaning there’s nothing the creditor can do with the bankruptcy, but it stays on your credit for 10 years. If you want the judgment to be deemed “discharged” as well, there is an…
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Can an individual be held liable for post separation debts incurred by the other spouse?

Yes. Debts are the same as negative assets, and the presumptive date for dividing a marital estate is the date of your pretrial, which is often many months after separation. There are two exceptions, which is that the parties can agree on a…

If I file chapter 7 or 13 will this stop the judgments that have been filed against me by creditors?

A bankruptcy filing stops collection, and the discharge makes judgments void, but they will stay on your credit report for 10 years from when the judgment was entered.  There is an additional procedure you can go through under state law, after…

Can I refinance or get a mortgage after bankruptcy?

Can I refinance or get a mortgage after bankruptcy? In general, it takes two to four years after a bankruptcy to qualify for another mortgage or refinance (although HAMP loan modifications can usually take place even while you are in bankruptcy).…
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How long after a bankruptcy does it take to qualify for a mortgage?

The answer is “it depends”.  It depends on what type of mortgage you are seeking, which chapter of bankruptcy, and perhaps most importantly, it depends on what the underwriting requirements are at the time you are actually seeking a mortgage. …
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How to Maximize Your Time in a House That is Going into Foreclosure by Filing Chapter 7 Bankruptcy

Part 4 in a series on how we help people in underwater homes When I talk to someone who is going into foreclosure, I ask them if they want to save their house, and 9 out of 10 people say “yes.” So usually the best way to do that is by way…
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How to save your house with a chapter 13 bankruptcy

Part 3 in a series of how to save your house When a person who is behind on their mortgage payments calls me, I go through a hierarchy of questions: A. Do you want to save your house? B. Can you afford your mortgage payments? C. Have you tried…
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8th Circuit dismisses appeal challenging chapter 13 lien strip

A long-awaited decision was issued last week by the 8th Circuit Court of Appeals, dismissing a chapter 13 trustee’s appeal of a decision by the 8th Circuit Bankruptcy Appellate Panel, which had noted that the concept of lien stripping is noncontroversial…