9 More Tips for Budgeting to Chapter 13 Success

Okay, your Chapter 13 case has been filed and your creditors have been notified. Congratulations– for the first time in a long time, your creditors aren’t calling you night and day. The automatic stay is in effect, which means that your creditors can’t sue you and have to abide by the terms of your Chapter 13 plan, once confirmed. So, … Read More

“C” is for Credit Card Creep

Many prospective clients, when meeting me for the first time in my office, seem to shake their heads and wonder what happened with their finances. They say that they never imagined that they would be considering bankruptcy. I don’t know the percentages, but the financial problems of most people are rooted in the following: divorce or separation job loss medical … Read More

“B” is for Bankruptcy Timeline

The timeline for a typical bankruptcy case is as follows. I will talk mostly about Chapter 7 and Chapter 13 bankruptcy, because business bankruptcies in Chapter 11 vary considerably. Both Chapter 7 and Chapter 13 cases begin as follows. Prior to filing a case, one must complete the Pre Filing Counseling, which takes from 30 to 60 minutes. Most people … Read More

“A” is for Abuse of Bankruptcy

In the Bankruptcy Alphabet, “A” stands for abuse of bankruptcy. Clients frequently ask me if their bankruptcy case is going to be approved by the Court. My answer is yes, as long as they follow the rules of the court. I write this today having just read that the Bankruptcy Court has dismissed the Chapter 13 case of T-Boz, the … Read More

“I” is for Insurance–the Bankruptcy Alphabet

In the bankruptcy alphabet world, “I” is for insurance. Specifically, I’m talking about force-placed insurance. Never heard of it? Well, it’s a huge money-maker for mortgage servicing companies and it’s a nasty way for a homeowner to lose a lot of money. It’s also one way you can get your Chapter 13 bankruptcy case dismissed. Here’s what happens: if you’re … Read More

10 Tips for Success in Your Chapter 13 Case

So, you filed a Chapter 13 case and your Chapter 13 plan has been confirmed by the Court. Your goal at this point is to pay off the total amount in your plan, also known as the plan base. Here are ten things to prepare for: 1) complete your Pre-Discharge Financial Education course and establish a good budget; 2) make … Read More