Bankruptcy protects your vehicle and helps you deal with your vehicle’s debt in many ways. Here are 13 of them. 1. Is your vehicle free and clear of any debt? That means it could be exposed to seizure by creditors for payment of their debts. Protect your free and clear vehicle(s) by ... Read More »
Protection from Creditors through the Automatic Stay
The moment you file bankruptcy you and your property are protected from almost all collection attempts by your creditors. The part of federal bankruptcy law called the “automatic stay” protects you from your creditors during a bankruptcy case. The Law on Automatic Stay The ... Read More »
Chapter 7 and Chapter 13–“Cramdown” on Personal Property Collateral
After covering Chapter 7 last time, now how does Chapter 13 help you keep (or surrender) collateral on a debt? Last time we explained the crucial difference between secured and unsecured debts, and focused particularly on “purchase money” secured debts. That led to laying out the ... Read More »
Making Sense of Bankruptcy: How Filing a Chapter 7 or 13 Case Stops Creditors’ Actions against You
Federal bankruptcy laws override state collection laws, protecting you and your assets from debt collection. In this “Making Sense” series, we’re explaining bankruptcy through individual sentences about each of its important concepts. Today’s sentence: Filing a consumer bankruptcy case ... Read More »
