Even a simple Chapter 13 case has many powers unavailable under Chapter 7. So the extra time Chapter 13 takes can be highly worthwhile. Chapter 13 Consumers file a Chapter 13 case mostly because of significant advantages that it gives them over Chapter 7. Also, sometimes people ... Read More »
Chapter 13’s Tools for Your Home Mortgage
Chapter 13 gives you many tools to help you manage your home mortgage. Chapter 7 vs. Chapter 13 in General Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts” give you two very different ways of attacking your debts. This includes your home mortgage. Chapter ... Read More »
Chapter 13 Gives You Lots More Time to Pay Crucial Creditors
When you’d like to favor certain important debts over others, often Chapter 13 makes this possible. Using the Bankruptcy Laws to Your Advantage One of the basic principles of bankruptcy is that you usually can’t favor one debt over your other debts. You can’t except when the ... Read More »
Chapter 7 vs. Chapter 13 and Your Home Mortgage
Here are 7 ways filing a Chapter 7 case can help you deal with your home lender and 8 ways filing a Chapter 13 one can. If you’re buying a home, your mortgage and other related debts are probably your biggest and most important ones. So it’s no surprise that the choice ... Read More »
Get Chapter 13 Help for Special Debts
Chapter 13 protects you while you catch up on or pay off important debts. Chapter 7 sometimes doesn’t help you enough with certain debts. Those tend to be ones that either can’t be written off or you don’t want to write off. Examples are relatively recent income tax debts, child and spouse ... Read More »
A Fresh Start on Your Home with Chapter 13
Adjusting your mortgage and other home-related debts under Chapter 13 can often give your home the very best fresh start. Our last two blog posts have been about two options for when you need help making mortgage payments: a mortgage modification and a forbearance agreement. In a nutshell, a ... Read More »
A Fresh Start with a Forbearance Agreement
Whether you’re about to fall behind on your mortgage or have already done so, a forbearance agreement avoids foreclosure while you catch up. Quick Definition A forbearance agreement gives you short-term relief to deal with a temporary period of financial hardship. Your mortgage lender agrees, ... Read More »
A Fresh Start with a Mortgage Modification
Mortgage modification may reduce your monthly payments but not likely reduce your balance owed. So it costs less short-term, not long-term. Quick Definition A mortgage modification is a permanent restructuring of one or more of the terms of the mortgage intended to make it more affordable on a ... Read More »
A Fresh Start on Your Home If You’re Behind on Your Mortgage
If you are behind on your home mortgage & want to keep your home, do a mortgage modification, a forbearance agreement, or a Chapter 13 plan. The Three Options Here’s a summary of 3 ways to get a fresh start on your mortgage: A mortgage modification is a permanent restructuring of ... Read More »
Giving Thanks for Chapter 13 “Adjustment of Debts”
It’s way past Thanksgiving but Chapter 13 has many features that make you take notice and appreciate what they can accomplish. During Thanksgiving week we told you about 10 features of Chapter 7 “straight bankruptcy.” It only seems fair to bring you the same for Chapter 13 ... Read More »
