Bankruptcy Public Records - Does Everyone Have to Know That You Declared Bankruptcy?

Bankruptcy Public Records - Does Everyone Have to Know That You Declared Bankruptcy?

People who are considering Bankruptcy Attorney.

You shouldn't be embarrassed to look into this since it can have a lot of benefits for your financial future. It's true that bankruptcy becomes a matter of public record, so it's possible for people to look into your financial past. This may be more of a problem in a small community where everyone knows each other, but it really shouldn't matter in a larger city.

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What Does We the People's Bankruptcy Mean For People Looking to File Bankruptcy on Their Own?

What Does We the People's Bankruptcy Mean For People Looking to File Bankruptcy on Their Own?

We The People, a legal document preparation company, has filed for Chapter 11 Bankruptcy Attorneys can help ensure your financial future. The best attorneys in your area will offer free articles, blogs, and even publications that you would surely be in your best interest to take advantage of.

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Automatic Stay in Bankruptcy - How Do Repeat Bankruptcy Filings Affect the Case?

Automatic Stay in Bankruptcy - How Do Repeat Bankruptcy Filings Affect the Case?

The automatic stay provisions of the U.S. Bankruptcy Code are some of the most powerful and immediate protections for people who need to be shielded from their creditors. The stay, however, is not perfect nor permanent.

In fact, there are limitations built into the automatic stay provisions that limit the effectiveness for people who have filed prior bankruptcy cases.

In the old days (before the current law came into effect in 2005) people could file case after case in rapid succession, dismissing the ones that didn't work out and filing new ones to stop their creditors.

For most people, these "serial filings" (as they came to be known) were made in good faith and with the best of intentions; someone would file a Chapter 13 Bankruptcy to stop a foreclosure, they'd miss a few post-petition payments and the mortgage lender to obtain relief from the automatic stay. Then the homeowner would get a better job and be able to make the payments.

So rather than stay in a Chapter 13 Bankruptcy Code, a case is presumptively filed in bad faith and subject to a limitation of the automatic stay if a prior case was filed and dismissed within the past year.

If 1 previous case under any of Chapter 11 Bankruptcy lawyer can file a motion with the court to impose or extend the automatic stay and keep it in place during your entire bankruptcy proceeding.

The grounds for such a motion to be granted include when there has been a substantial change in the financial or personal affairs of the debtor since the dismissal of the next most previous case. This can be a tricky area of practice, and it's important to discuss with your lawyer the chances of success of such a motion before filing a new case and potentially ending up with only a limited - or non-existent - automatic stay.

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Bankruptcy - Timeframe From Start to Finish

Bankruptcy - Timeframe From Start to Finish

Chapter 7 Bankruptcy Attorney and the panel trustee.

2) The 341 meeting of creditors is held approximately four to six weeks after the date of filing.

3) The debtor waits an additional 60 to 90 days until receiving a discharge order. The discharge may be delayed by the panel trustee.

If everything goes well, the debtor's case will last approximately 120 days from start to finish. If a creditor objects, there may be a separate case within the Bankruptcy Attorney's representation agreement. That is because the adversarial case is far more difficult than the total Bankruptcy Attorney can advise you regarding your rights under the U.S. Bankruptcy Code.

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If I File Bankruptcy, What Do I Get to Keep? Do I Lose Everything?

If I File Bankruptcy, What Do I Get to Keep? Do I Lose Everything?

People considering filing Bankruptcy Attorney.

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Marriage During Chapter 13 Bankruptcy

Marriage During Chapter 13 Bankruptcy

We can never tell the future. Some people file bankruptcy and then get married. With a Chapter 13 Bankruptcy will last between 3 to 5 years. And a lot can change during that time, including finding Mr. Right or Ms. Right. For individuals who are still in a Chapter 13 Bankruptcy affect the bankruptcy"? And "if it does, how"?

The simple answer is yes, marriage during Chapter 13 Bankruptcy does or, at least, can affect the
bankruptcy.

One of the first things that you do when filing bankruptcy is to disclose your income and expenses so that the court, trustee, and creditors can fairly determine your financial situation and your ability to pay on a Chapter 13 Bankruptcy, the law looks at the married couple's finances even though one Spouse is not involved in the bankruptcy.

Also, in determining if an individual qualifies for bankruptcy, the finances of the individual or the married couple are compared to other people in your state in a similar situation.

The law does not merely look at your financial situation at the beginning of filing bankruptcy. Rather, the law will look at your financial situation when there are changes because the changes may affect your ability to pay the payment plan.

In the case of getting married during a Chapter 13 bankruptcy, you may actually be able to pay more to your creditors because your monthly net income (income less expenses) may increase if your new Spouse helps pay household bills. However, if your new Spouse does not work and does not pay toward household expenses, you may actually have less money to pay toward your payment plan.

Regardless of whether or not your new Spouse works and contributes to paying household bills, you need to notify the trustee of your marriage. Depending on your situation, your Chapter 13 bankruptcy payment plan may need to be amended to reflect your new ability to pay or not to pay.

Even though your new Spouse can affect your payment plan, your new Spouse will not be a party to your bankruptcy.

This is general information. If you need specific information or have any questions of any nature whatsoever, talk with a lawyer licensed in your state.

This article may be republished, but the wording must not be changed and the author links must remain active.

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Can a Chapter 7 Bankruptcy Stop Car Repossession

Can a Chapter 7 Bankruptcy Stop Car Repossession

Can a chapter 7 bankruptcy stop car repossession? The short answer is no! A Chapter 7 bankruptcy can delay car repossession, but Chapter 7 bankruptcy does not stop it.

One of the fundamental rules of bankruptcy is that secured debts are either paid or the secured creditor may seek to enforce its' lien on property, and ultimately obtain ownership of the property. In other words, when you get a car loan, you put the car up as collateral for the loan. If you do not make your car payments, then the lender may seek to repossess the car. Bankruptcy does not change the process. Rather, bankruptcy confirms the process. You pay, you keep the car. You don't pay, you lose the car.

Bankruptcy can delay repossession of a car. Whenever anyone files a bankruptcy action, there is an "automatic stay" (stopping) of most civil actions such as car repossession. This means that a car lender cannot proceed with a car repossession. Instead, a car lender must wait and, at the appropriate time, file a motion asking the bankruptcy court to allow it (the car lender) to proceed with the car repossession. In most cases, unless there is a good reason not to, the bankruptcy court will allow the lender to proceed with the car repossession. However, the car repossession will have been been delayed while waiting for the court's approval for the lender to proceed.

While a Chapter 7 bankruptcy does not stop a car repossession, it can help you keep your car in another way. The primary advantage of a Chapter 7 bankruptcy is that it can discharge unsecured debts (such as credit cards, medical bills, personal loans) meaning that you do not have to pay the unsecured debts. By not having to pay the unsecured debts, you may have more money with which to pay your car payments and, thereby, keep your car.

You should know that it is probably not worth filing bankruptcy if your only debt is your car debt. The costs, including the filing fee, and disadvantages (negative information on your credit report) will probably exceed to benefits of keeping your car.

This is general information. If you need specific information or have any questions of any nature whatsoever, talk with a lawyer licensed in your state.

This article may be republished, but the wording must not be changed and the author links must remain active.

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