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What is a Cram down? Cram down is only available in chapter 13 bankruptcy and is a way to reduce the total amount you will pay to obtain a free and clear title to your vehicle. If you purchased your vehicle more than 90 days prior to filing for bankruptcy protection and the fair market […]
When you file for Chapter 13 bankruptcy, you prepare a plan to repay your debts as much as you can. At the end of the plan, you will be able to wipe clean many debts that you were not able to pay off. By law, the plan must be 3 years long, unless you make […]
The purpose of filing bankruptcy is to allow the debtor to have a fresh start. By using a Tempe bankruptcy attorney, it enables the debtor to ensure the case is filed properly and is increasingly more likely that the debtor will receive a discharge. There are checks and balances in the bankruptcy system to weed […]
When you file for bankruptcy, you must inform any potential creditors that you filed, so that they can come forward and ask for what you owe them. If they do not do this within a certain time, they lose all rights to claim anything from you. There are, however, six exceptions to the rule that […]
Wherever you decide to file for bankruptcy, that location is presumed to be the right one until it is successfully challenged by a creditor or the trustee in your case, whose job it is to administer your estate. However, once challenged, there is a rule for where to file. You can file where you were […]
After a bankruptcy case is completed, the trustee will get paid. Trustees administer your bankruptcy case, and will be paid according to a commission based on how many assets are sold to pay creditors. This is an obvious incentive to liquidate assets, but the trustee’s salary will have to be reasonable, also. In this case, […]