Most Chapter 7 “straight bankruptcy” cases are in fact straightforward. Here are two of the main circumstances that create complications. Your Income is Higher than “Median” To qualify to file for a Chapter 7 “straight bankruptcy” case, you have to ... Read More »
A Fresh Start with Unpaid Property Taxes on Your Home
Falling behind on property taxes is dangerous, and scares your mortgage lender. Bankruptcy can help you deal with both. Is Chapter 7 “Straight Bankruptcy” Enough Help? It possibly can give you enough of a fresh start with your other debts so that you can catch up on your property ... Read More »
Giving More Thanks for Chapter 13 “Adjustment of Debts”
We’re lingering in the Thanksgiving spirit by appreciating what Chapter 13 has to offer. Beyond the first 3 we covered a couple days ago, here are 3 more impressive features of Chapter 13 which are completely unavailable under Chapter 7 “straight bankruptcy”: 4) The ... Read More »
Chapter 7 and Chapter 13–Too Much Equity in Your Home
Most homeowners contemplating bankruptcy have their home equity protected by their homestead exemption. If not, consider Chapter 13. The Homestead Exemption Throughout the U.S. people filing bankruptcy have the equity in their homes protected by homestead exemptions. A property ... Read More »
Chapter 7 and Chapter 13–Resolving Your Property Tax Debt
Bankruptcy helps with your property taxes either by writing off your other debts or by buying you more time to catch up. Discharge Your Other Debts with Chapter 7 So You Can Pay Your Property Taxes If you’ve fallen behind on your property taxes, presumably your income has ... Read More »
How Bankruptcy Handles . . . Back Property Taxes on Your Home
Being behind on property taxes is usually a breach of your mortgage. Chapter 13 protects you from your mortgage lender so you can catch up. Property Tax Foreclosure Is Not Usually the More Pressing Concern If you have fallen a year behind on your property taxes, you likely have quite a bit of ... Read More »
