Can Non-Citizens File Bankruptcy?
The answer is simple: Yes. The Bankruptcy Code does not limit who may file based on citizenship status. It states that “only a person that resides or has a domicile, a place of business, or property in the United States . . . may be a debtor . . . .” The “person” is simply […]
Stronger Medicine for Vehicle Loan through Chapter 13
If you are behind on your car or truck loan and a Chapter 7 case will not help you enough, file a Chapter 13 case instead so that you can keep that vehicle.
Buying Just Enough Time for Your Home with a Chapter 7 Straight Bankruptcy
What if you don’t want to keep your house, but just need a little more time to find another place to live? Or if you just need to finish a pending sale before a foreclosure happens? Or maybe you don’t want or need the extra benefits of Chapter 13. Or you just want to put […]
Options with Your Vehicle Loan under Chapter 7
Your car or truck loan may be the most important debt you have. Chapter 7 puts you in the driver seat for dealing with this debt.
Debts with Collateral–THE Fixation of Many Bankruptcies
Your vehicle loan, home mortgage, account at the appliance or electronics store, and maybe a debt that’s resulted in a judgment lien–these debts with collateral are the ones that grab the most attention during a bankruptcy case. And that includes the attention of the creditors, very interested in “their” collateral.
Keep Your Vehicle In Spite of Paying Less Every Month
What if you really need to hang on to your car or truck, but can’t afford the monthly payments? Or if you’ve fallen behind and just can’t catch up? “Straight bankruptcy”—Chapter 7—won’t help you here. Most of the time, you have to either quickly catch up or you lose the vehicle. And very few vehicle […]
What Happens to Your “General Unsecured Debts” in Chapter 13?
In most Chapter 7 “straight bankruptcies,” most debts are legally written off, especially debts that are not secured by any collateral and don’t belong to any of the special “priority” categories of debt. But how about in a Chapter 13 payment plan? What determines whether these creditors get paid, and if so how much?
The Great Recession More Than Wipes Out a Quarter-Century of Gains Made by Blacks and Hispanics in Household Wealth
I had no idea that the recession had such a much worse impact on minorities. The gap in median household wealth between whites and each of the two largest minority groups has not only gotten tremendously wide, in fact this gap almost doubled in only four years. This is according to a report released by […]
What Happens to Your “General Unsecured Debts” in Chapter 7?
Your “left-over debts”–those which are neither secured by collateral nor belong to any of the special “priority” categories–often don’t drive the decision about whether to file Chapter 7 or 13. But you still need to know how these “general unsecured debts” are handled under these two options.
The Most Basic Concept in Bankruptcy: Debts
The most practical questions you likely have if you are considering bankruptcy is what it will do to each of your debts.