The 8th Circuit Bankruptcy Appellate Panel has allowed a debtor who was ineligible to receive a discharge in a Chapter 13 case to strip wholly unsecured liens filed against a debtor’s homestead. In the case of In re Fisette, No. 11-6012 (8th Cir. BAP Aug. 29, 2011), the debtor was ineligible to receive a
How long do you have to wait to file bankruptcy if you have filed in the past?
The answer is that there is no limit to how many times you may file bankruptcy, but there are a few special rules governing how often a bankruptcy case will discharge your debts when you have filed before.
Chapter 13 is a 3 to 5 year payment plan supervised by a bankruptcy trustee designed to reorganize relatively small debtors. Big companies or individuals with substantial debt seeking to establish reorganization plans (as opposed to filing a Chapter 7 liquidation bankruptcy) must file Chapter 11. The streamlined procedure of Chapter 13 is limited to
Just about the top priority of most of my clients is protect their vehicle. The good news is that Chapter 13 repayment plans not only protect the family vehicle, but they also include additional powers to make the loan payment more affordable.
One of the greatest powers of Chapter 13 is the right to
As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), Congress required that all persons take a credit counseling course before they are allowed to file a bankruptcy case, and another credit education course after the case is filed. So, everyone filing bankruptcy these days must take two courses and file
One of the most significant powers of a Chapter 13 bankruptcy is the power to strip off a wholly unsecured second mortgage lien. If your home is worth less than the amount of the first mortgage balance, you may be able to cancel the second mortgage lien in Chapter 13. With the dramatic decline of
Chapter 13 cases provide for a monthly payment to a bankruptcy trustee over a 3 to 5 year period of time. Generally, a person files Chapter 13 when their income is too high to qualify for Chapter 7 or if they are disqualified from filing Chapter 7 due to a prior bankruptcy being filed in
The Nebraska Bankruptcy Court issued a written opinion on January 6th stating that a debtor who intentionally or negligently fails to list a debt will be denied a discharge of the debt. A Nebraska debtor who resides in Morse Bluff, Nebraska, was recently denied the right to discharge a $751 auto repair bill that she
One of the most common questions asked is whether it is better to file Chapter 7 or Chapter 13. Our firm’s position is that if you qualify for Chapter 7 and if there is little risk of your property being liquidated, then Chapter 7 is the better way to go. The goal is to complete