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In the previous articles in this series I discussed various options that are available to a debtor who is in a Chapter 13 Bankruptcy but who can no longer make his Plan payments.
Those options are:
A Hardship Discharge.
Modification of your Chapter 13 Plan to allow Suspension of payments for a period of time or to Extend [...]
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When a debtor files bankruptcy, part of the process requires that they list all assets (all the stuff that they own) and all liabilitlies for the bankruptcy court to review. This rule has been in place for a long time, but under the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, the rule was emphasized. [...]
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It is hard, not impossible, to discharge student loan debt in bankruptcy. Only government guaranteed loans were protected from discharge before 2005, now student loans from private banks are protected. To qualify for discharge, payment of a student loan must present an undue hardship to the debtor or a dependant of the debtor. The exceptions [...]
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In Part 2, Part 3, and Part 4 I discussed various things that can be attempted to save a Chapter 13 Bankruptcy Plan if you are having difficulty making the Plan payments.
You have discussed these various options with your attorney and none of them are available to you.
When all else fails a voluntary dismissal of [...]
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Many of my clients end up in bankruptcy because of a series of unfortunate events. Sometimes those events continue after the case is filed, and their troubles continue. When you file a Chapter 13 payment plan, you are generally required to keep making your regular mortgage payments, or resume making those payments if you have [...]
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I am sitting in 341 meetings all day today. So far several debtors have brought their very young children to the meeting. These debtors are also getting upset because they believe that they should go first and are not. Now the children are in melt down mode and it is miserable for everyone. 341 meetings [...]
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In Part 4 of this series of articles I discussed the Suspension of your Chapter 13 Plan payments as an option available to you to keep your Chapter 13 bankruptcy alive if you are unable to make your plan payments.
Extending the length of the plan is another possible way to save a Chapter 13 Plan.
If you are in a [...]
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Bankruptcy lawyers hear from potential clients fairly regularly that they need to file quickly because they don’t want their future wife or husband to be held responsible for their debt problem.
In most cases, their fears are misplaced. The marriage, by itself, usually will not make the new spouse responsible for your past debts. There are [...]
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If you have discovered that your debt has become unmanageable, and you don’t see any way out of your financial situation, you may be considering bankruptcy as a solution.
As many people can tell you, though, bankruptcy can be quite stressful. Here are some techniques you can use to reduce your bankruptcy related stress.
First, it’s important [...]