Keeping Your Inheritance in Bankruptcy
You may be able to keep an inheritance in Bankruptcy or funds from a lawsuit if you know how to exempt it or if you know how to time the filing of your bankruptcy. Whether you file for Chapter 7 or Chapter 13 bankruptcy also determines whether or not you keep the property. Of course, […]
Annual Budgets and Tax Refunds in Bankruptcy • Video
There are requirements for submitting annual budgets and tax refunds in some districts such as Louisville, Kentucky. Of course, one of the requirements while in bankruptcy is for debtors to use their best efforts to repay all debts. Interestingly, this requirement is part of a bargain in bankruptcy. Additionally, in Chapter 7 or Chapter 13 […]
HELOC Second Mortgage and Property Tax Foreclosures
HELOC second mortgage and property tax foreclosures are expected to increase in 2018–2025. $265 billion in home equity lines of credit mortgage loans (or HELOCs) will go into foreclosure from 2015 to 2018 according to Experian. Some homeowners will have to increase these monthly second mortgage payments by 3 to 4 times the present monthly […]
Your Fresh Start on a New Budget with Bankruptcy
How do we make sure you get a fresh start in bankruptcy on a new budget you can afford? Well, it’s simple. In short, we take the time to make sure you get a fresh start and a new budget you can afford. That’s because you must spend the right amount of time to prepare a […]
Budgets for Chapter 7 and 13 Bankruptcy
Budgets for Chapters 7 and 13 bankruptcy include expenses that are acceptable by the trustees and judges. However, those expenses must make sense for your needs and income. Budgets for a Chapter 7 bankruptcy need to support the conclusion that you have no money left over after your reasonable and necessary expenses to pay a […]
Chapter Conversions from One Bankruptcy Chapter to Another
Bankruptcy is normally voluntary – unless you have hidden assets or filed somehow in bad faith. You normally have the right to dismiss your Chapter 13 bankruptcy case or convert from one bankruptcy chapter to another. It is easy to convert from Chapter 13 to a Chapter 7 normally, and there are benefits to converting from […]
