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 […]
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, […]
When you file for bankruptcy, who receives your home depends on a lot of factors. You may get your home if it falls under certain laws, called exemptions. Your creditors may receive it if they have a mortgage on it with what is called priority, meaning that they stand first in line. In this case, […]
When you file for bankruptcy, you have to tell all your creditors that you file. Once you have notified them of the case, they are required to file a proof of claim, which is paperwork establishing to the court that you owe them something. If they fail to file the proof of claim, they may […]
Every bankruptcy case is assigned to a trustee, whose job it is to administer your case. The trustee may challenge almost anything he or she disagrees with, and may be heard on any issue having to do with the bankruptcy. Here, the Bank of America submitted a claim against an individual who had filed bankruptcy. […]
When you file for bankruptcy, you have to list all your property in paperwork submitted to the bankruptcy court. Then, you may be able to claim that some of your possessions are exempt, or will not be used to pay creditors, under state or federal law. Every state has exemptions for certain automobiles, because it […]
When you complete your Chapter 13 plan, the court will grant you a discharge of much of remaining debt, and you will not longer be required to pay it. The creditors you owed the debt to are forbidden from trying to collect on it, as well. Even if the bankruptcy court made a mistake in […]
If a bankruptcy court determines that an attorney who appears before it is not properly qualified or prepared to handle bankruptcy cases, the court may order the attorney to gain more knowledge before he can appear again. In this case, the bankruptcy court ordered an Alaskan attorney to stop filing Chapter 13 plans until he […]
© 2024 · Tucson Bankruptcy Attorney
