The short answer is absolutely not! However, if you file bankruptcy of any type, you must make your normal monthly payments toward the each mortgage that you have on your property. The key in a bankruptcy if you are hopelessly behind on your payments is to file chapter 13 that allows you to catch up… Continue reading WILL I LOSE MY HOME IF I FILE BANKRUPTCY
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HOW ARE FINANCE COMPANIES TREATED IN BANKRUPTCY
Needless to say, Congress did not like finance companies that loan money to consumers, and list household furniture, appliances, yard equipment and other needed items, then threaten to repossess those if a consumer gets behind on payments. Therefore, if a finance company has loaned you money and taken a lien on those household furnishings that… Continue reading HOW ARE FINANCE COMPANIES TREATED IN BANKRUPTCY
How do I file a bankruptcy?
This is a question that is on the minds of many Americans who are unemployed, facing foreclosure and unable to pay high medical bills. The good news is that there is help for those struggling to pay their bills. If you have been fighting a losing battle to pay your bills, even after creating a… Continue reading How do I file a bankruptcy?
BANKRUPTCY NEWS: Judge punishes Bank of America for bankruptcy violations
Bank of America is back in the hot seat in bankruptcy court as a judge slaps a $10,000 per month fine on the bank for badgering a couple to pay a debt that was clearly discharged in their Chapter 7 bankruptcy case. Judge Robert Drain ordered BOA to pay $10,000 per month for each month… Continue reading BANKRUPTCY NEWS: Judge punishes Bank of America for bankruptcy violations
How to stop a foreclosure through bankruptcy
Experiencing financial hardship is stressful – – the thought of losing your home on top of that is terrifying. This is what many Americans face each day as they struggle to meet financial obligations. They lay awake each night trying to figure out a way to catch up their mortgage payments and still have enough… Continue reading How to stop a foreclosure through bankruptcy
What is a bankruptcy exemption?
One of the very first questions our clients ask us at The Cooper Law Firm is “Can I keep my property if I file bankruptcy?” In most cases, debtors who file bankruptcy keep most, if not all, of their property. This is possible because of the federal bankruptcy exemptions and South Carolina property exemptions that… Continue reading What is a bankruptcy exemption?
Chapter 11 vs Chapter 13 for Individuals or Couples
The following is an example of a married couple’s need to file a chapter 11 bankruptcy reorganization as opposed to a chapter 13 bankruptcy reorganization. Although, the fees and costs for chapter 11 are much higher than those for chapter 13, debtors whose unsecured debt totals exceed $362,500, are not eligible under Bankruptcy Code section… Continue reading Chapter 11 vs Chapter 13 for Individuals or Couples
Bankruptcy Relief with a Chapter 13 Filing
A chapter 13 bankruptcy case involves consumers, who have a steady flow of income, and who need to reorganize their financial commitments. Chapter 13 is labeled a consumer reorganization, because it involves a restructuring of the debtor’s financial commitments. In a chapter 13, for example, a debtor’s debt balances, interest rates, and monthly payments can… Continue reading Bankruptcy Relief with a Chapter 13 Filing
The Most Important Step in Filing A Bankruptcy Case
The most important facet that exists in the beginning of a bankruptcy case is the “automatic stay.” This “stay” is a federal injunction that is imposed immediately upon the filing of a case. No further court order is needed. This “automatic stay” is found in section 362 of the Bankruptcy Code. The Bankruptcy Code is… Continue reading The Most Important Step in Filing A Bankruptcy Case