Get Foreclosure Help

Tag: bankruptcy attorney

  • Key Differences Between the Bankruptcy Code and the Federal laws for Bankruptcy

    Key Differences Between the Bankruptcy Code and the Federal laws for Bankruptcy

    The bankruptcy procedure does not start a local state court. Instead, the official bankruptcy papers are usually presented to the clerk at the Federal court. This is because bankruptcy is a federal process and is governed by the Federal rules for bankruptcy. The law allowing the use of Chapters 7 and 13 is as per the bankruptcy code. The Federal laws for bankruptcy procedure act as a guide to the courts to implement the bankruptcy law.

    What does the bankruptcy code consist of?

    Bankruptcy code can define the following-

    • Eligibility to file a bankruptcy case, answers for who can file
    • Outlines the responsibilities of a debtor or the filer
    • The responsibilities of the bankruptcy trustee who administers the case
    • Affected properties and application of state exemption laws where necessary
    • What type of debts shall be released and what type of debts shall be considered as non-releasable?
    • How a lender can make a claim
    • The prioritization of debts and release of debts based on the lender’s claim

    For more in detail analysis of the bankruptcy code, visit Recovery Law Group. The bankruptcy code additionally is divided into several chapters. We see the use of a specific Chapter due to eligibility and other benefits. The different chapters with a brief can be listed as follows-

    • Chapter 1 has been designed for general provisions
    • Chapter 3 is for case administration
    • Chapter 5 defines the lenders, debtor/filer and the estate
    • Chapter 7 is straight liquidation of non-exempt assets during bankruptcy
    • Chapter 9 refers to re-setup for the municipalities
    • Chapter 11 is the re-organization for businesses which applies to individuals doing business as well
    • Chapter 12 refers to re-organization for fishery-related individuals and farmers
    • Chapter 13 is a payment plan for individuals, which aims at settling dues over the course of 3-5 future years
    • Chapter 15 gives insight on cross-border cases and some of the ancillary cases

    Federal rules of bankruptcy and the bankruptcy code

    Every court in the United States has a rule book which guides its course throughout a bankruptcy case. The Federal rules for bankruptcy help in the implementation part. The Supreme Court was granted authority by Congress to amend and/or write rules that govern the bankruptcy cases. The objective is to enable quick and inexpensive access to justice for all parties. There are different rules outlined by the Supreme Court that help in creating a standard/uniform system in order to enable the objective of quick and inexpensive justice. It is important to note that if there is a conflict amongst the Federal law and the bankruptcy code, the court shall go as per bankruptcy codes. The federal rules can be listed as follows-

    • Rule No. 1002 highlights the commencement of the case. It deals with the filer, petition and the selection of an appropriate Chapter
    • Rule No. 1005 refers to the caption of the petition. The caption in a bankruptcy case includes basic details of the filer like his name, address and also the court’s name/location in which the case is to be filed
    • Rule No. 1006 is with respect to the filing fee. The petition or the document must consist of a filing fee. If the filer is eligible for a waiver of fee or has a request for paying the fee in installment, such document or request must also be added with the petition document
    • Rule No. 1007 has all the schedules, timelines, documents, lists, statements, etc. This rule basically explains all the important timelines, statements, and documents that need to accompany the petition before filing
    • Rule No. 1008 deals about verification of petition and the documents accompanied with it. The petition and documents filed should be verified by an oath or a declaration (which is usually a signature of ‘I certify’)

    Other deviations in bankruptcy rules

    There can be some rules enacted by the bankruptcy court that is specific to a particular district. The court has full independence to enact such rules. These rules are usually administrative and deal with the procedure of motion, entering orders, briefing schedules setup instructions, local form filing requirement or instructions, etc. Similar to the local bankruptcy rules, there can be some bankruptcy judge specific rules. The judge’s personal preferences can be articulated as rules in that particular court. These types of rules may include a policy for emergency motion, telephone/video evidence or hearing, court staff interaction, hearings procedure, etc.

    Law is a complicated child and is best managed by the rightful parents. An attorney or a lawyer can better guide you in your complicated situation. You just need to call +1 888-297-6203. This is your one-stop solution for all your legal needs.


      *Are you more than 60 days past due on your mortgage?

      *Do you own a home?

      Are you currently working?

      By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

    • What to Expect While working with a Bankruptcy Attorney?

      What to Expect While working with a Bankruptcy Attorney?

      Financial issues can be quite demanding and confusing at the same time. Though the law does not require that you be represented by a lawyer while filing for bankruptcy, it is often advised to do so. The reason for this is that bankruptcy petition filing or a 341 hearing is much more complex than just filling out a few forms. There is a lot more that a bankruptcy lawyer can help you with. Here’s looking at some of the advantages that having a bankruptcy lawyer brings to the case:

      • Help determine which chapter of bankruptcy will suit your individual circumstances best.
      • Assessing your financial condition to determine whether you can pass the means test in the case of Chapter 7 bankruptcy.
      • Ensuring that your exempted property is protected.
      • Keeping sure that you haven’t waived off any rights involuntarily.
      • Assessing which debts should be disputed.
      • Determining any possible claims against creditors.
      • Making you aware of your options with respect to secured debts and any non-exempt property.
      • Taking care of communicating every detail of the proceedings to your creditors.
      • Help prepare you as well as accompany you to meetings with creditors.
      • Any objection filed to your bankruptcy by creditors is represented and handled by them.
      • They file a motion for relief from the automatic stay and any other similar pleadings by creditors.
      • They help enforce your discharge order so that you are able to enjoy full benefits for a fresh start.

      Considering the various advantages that having a bankruptcy attorney can have on your case, it is important that you make a wise decision regarding this. Many times, cases filed without an attorney are more likely to be dismissed due to lack of proper documentation or any other reason. Instead of cutting corners at such a time, when you are financially struggling, you must consult with the best to get out of this sticky wicket.


        *Are you more than 60 days past due on your mortgage?

        *Do you own a home?

        Are you currently working?

        By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

      • Protect Your Assets through Bankruptcy Exemptions in California

        Protect Your Assets through Bankruptcy Exemptions in California

        Non-payment of bills, especially those of credit cards, etc. can result in severe consequences ranging from threatening phone calls, letters to wage garnishments to legal actions. If you wish to protect your assets from going under the hammer, you need to consult bankruptcy lawyers to get you out of this mess. Unlike the myths associated with it, bankruptcy actually offers you a chance to reclaim your life while getting rid of the financial burden of debts.

        According to Los Angeles based law firm Recovery Law Group your individual circumstances determine which chapter of bankruptcy to choose. You can opt to get the debts discharged via Chapter 7 bankruptcy or get them reorganized through Chapter 11 or Chapter 13 repayment plan can work best for you. It is important to note that you might have to part away with some property, which may be taken and sold off to pay the creditors. However, Bankruptcy Code exemptions allow debtors to keep some or all of their assets, depending on the situation. These exemptions vary from one state to another. In the state of California, two options are available to debtors:

        California Bankruptcy Exemption Option 1

        This option is also known as the “wild card” exemption as it has a list of miscellaneous personal property which can be exempted. This option is popular amongst debtors who don’t own a home or possess any equity which requires an exemption. The exemptions in this section include:

        • Life insurance up to $11,800
        • Equity up to $22,075
        • Public benefits like Social Security, unemployment, disability, etc.
        • One motor vehicle up to $3,525
        • Miscellaneous personal property up to $22,075 (in lieu of equity exemption)

        California Bankruptcy Exemption Option 2

        This option is also known as “Homestead” exemption and is generally chosen by people who wish to retain equity on their houses. Exemptions included in this section are:

        • Motor vehicle up to $2,725
        • Jewelry up to $7,175
        • Equity up to $75,000 for a single person; up to $100,000 for a married couple and up to $175,000 for special circumstances.
        • Personal property used professionally or for a business up to $7,175

        Often people can be confused regarding which exemption to choose. Thus retaining a bankruptcy attorney can help you with not just selecting the appropriate bankruptcy chapter but also choosing the most appropriate exemption. With a bankruptcy lawyer by your side who is well versed with the system and the law, you can overcome the dire financial situation.


          *Are you more than 60 days past due on your mortgage?

          *Do you own a home?

          Are you currently working?

          By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

        • How Bankruptcy Lawyers can Help People Get out of Debts?

          How Bankruptcy Lawyers can Help People Get out of Debts?

          Debts can be daunting, especially if they are huge and have been accumulated without ever getting reduced. In such circumstances, it is extremely difficult to make any plans for the future as a majority of the time is spend trying to find a balance between averting crisis involved debt collectors. In order to break this vicious cycle and get ahead in life, you need to consult bankruptcy lawyers to know how bankruptcy can be of assistance for you in these tough financial times.

          One of the primitive steps that you should take regarding your finances is to be aware of your options. People who are overwhelmed with the staggering debt often find it difficult to manage things despite working hard. For such people, bankruptcy provides a fresh start. To know whether bankruptcy is the best option for you, you need to consult bankruptcy lawyers.

          A free case evaluation by them can help you become aware if bankruptcy can be the way for said relief. This can be enough to restore your peace of mind. Once you are aware of how to control your finances, you can rest with ease.


            *Are you more than 60 days past due on your mortgage?

            *Do you own a home?

            Are you currently working?

            By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

          • Frequently Asked Questions about Bankruptcy

            Frequently Asked Questions about Bankruptcy

            Many people who are facing grave financial issues, often have doubts about bankruptcy. It is therefore important to clear all your doubts related to it. Here are some FAQs about bankruptcy:

            What is Personal Bankruptcy?

            Personal bankruptcy offers 2 options mostly for individuals and couples; under Chapter 7 and Chapter 13. Both cases are designed to help people who are unable to pay their debts and get a fresh start. However, both options operate differently and are suitable for people with varying economic needs.

            What is The Difference between Chapter 7 and Chapter 13 Bankruptcy?

            Chapter 7 bankruptcy is an option available for people having relatively low income and a large number of unsecured debts (credit card and medical bills). In this case, most of the unsecured debt is eliminated. Post-discharge of debts, creditors and debt collectors can no longer make any attempt to collect any thus debts.

            Chapter 13 bankruptcy is a solution for people with regular income but somehow have fallen behind on payments. People who do not qualify for Chapter 7 can opt for this. Debtors can keep all property and make monthly payments as per repayment plans to clear past dues over a 3-5 year period.

            Can Bankruptcy be used to Stop Foreclosure?

            In most cases, bankruptcy can be used as a mean to stop foreclosure. On filing for bankruptcy, an automatic stay is in place. This stay helps put a stop to any collection action including foreclosure, by creditors and debt collectors. Apart from this, type of bankruptcy, past due balance, available monthly income, etc. are factors which are considered to decide the time and monthly payments to catch up in Chapter 13 repayment plan.

            Can Bankruptcy Help Stop Wage Garnishments?

            As soon as the automatic stay is entered (filing of bankruptcy case), wage garnishment is stopped instantly. Depending on the type of bankruptcy and amount of debt, the obligation to pay may be eliminated entirely or the debt may be reduced to a manageable monthly repayment plan. It is a relief to know that garnishment is totally eliminated for most debts.

            Can Bankruptcy help Stop Car Repossession?

            Filing of bankruptcy case results in an automatic stay due to which all collection attempts including car repossession are frozen. Solutions are available depending on the value of the automobile, equity in the car, the amount owed by the debtor and other factors. The debtor could surrender the vehicle to get free of debt on the loan, or redeem the vehicle for the market value and catch up on past-due payments in case of a Chapter 13 repayment plan.

            How Long Can a Bankruptcy Case Run?

            The duration of a bankruptcy case depends on the complexity. Chapter 7 case is generally completed in a 4-5 month time frame, whereas a Chapter 13 case, where repayment of dues takes place requires 3-5 years. It can be completed sooner too, depending on the final payment and completion of a mandatory financial education course.

            Can Bankruptcy Ruin my Credit?

            Bankruptcy remains on your credit report for a period of 10 years. If you are considering bankruptcy, your bad credit is already in reports. In fact, bankruptcy can be a good way to rebuild your credit. Since bankruptcy results in the elimination of many past dues, as well as reduction and elimination of outstanding debts, it helps in giving you a fresh start. Any late payments on discharged accounts also carry less weight and are eventually eliminated from the credit report. People if after bankruptcy, begin managing their finances properly can start rebuilding their credit immediately and often end up qualifying for finances like home loans in 2 years!


              *Are you more than 60 days past due on your mortgage?

              *Do you own a home?

              Are you currently working?

              By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

            • The Creditors Meeting – All That You Need To Know!

              The Creditors Meeting – All That You Need To Know!

              The creditors meeting or the 341 hearing indicates the commencement of the case. This is mandated by the United States Bankruptcy Court for the specific states and is scheduled 30 days after the bankruptcy filing. The date and the time for this meeting of creditors along with the debtor is notified within a couple of weeks of filing.

              Here’s how you need to plan for the meeting as a debtor –

              • The meeting generally happens over a span of 2-3 hours. Also, take into account the travel time needed to reach the court
              • There is no imperative dress code needed to bead hered to or to dress up fancily
              • Getting through the security of the courthouse will be a process to adhere to – metal detectors for the personnel, X-Ray scanner for the objects that you carry, etc. If you are carrying anything that is prohibited by the court house, hand over to the security and reclaim prior to leaving the courthouse after your 341 hearing

              Preparing for the meeting

              Every the bankruptcy case will be assigned a bankruptcy trustee who generally questions regarding your financial status and the current scenario of bankruptcy. As a debtor, be prepared to answer his questions that are just directed to you for the purpose of confirming all the disclosed information or to gather supporting details. There is nothing to be worried and anxious about this interrogation as long as the debtors appear for the hearing and answer every question honestly.

              Note the below about the meeting –

              • 341 hearings are very concise and peaceful meetings
              • No justification for the case of bankruptcy is expected from the debtor
              • There is no mandatory attendance expected from the creditors for this hearing – so they rarely show up
              • If the trustee or creditors uncover newer facts, they can request the judge to file a motion or an adversary proceeding. Hence it is advised that you discuss the proceedings with your bankruptcy attorney prior to the meeting and iron out all the facts involved in the bankruptcy filing

              The Creditors Meeting

              The actual creditors meeting in the courthouse can be scheduled for you and for many other debtors around the same time. So being on top of the list, that is posted outside of the door, will indicate you could be called in sooner than the others else you may need to wait for some the time before you are called in. But look at the wait time as an opportunity to know of the meeting protocol about what to expect, and how to respond to questions.

              On the calling of your name, you will be asked to sit at a table near the front of the courtroom. After swearing you in, and seeking proof of your identity (produce the Social Security Number and a photo ID), the meeting commences. The bankruptcy trustee will be reviewing your forms and may pose a few questions. Answer them honestly in line with the information disclosed in the documentation. The key part of this meeting would be to validate the effectiveness of your repayment plan to repay the debts in the stipulated time and the fairness in treating all creditors equally.

              Meeting conclusion

              If there are creditors who have turned up for this 341 hearing, they can pose their queries once the trustee finishes. The type of creditors who turn up may be the secured creditors like your mortgage lender – it could be for the purpose of contending the collateral values.

              Remember that the meeting of creditors is only the start of the bankruptcy case negotiations and hence the concerns of the trustee will also be treated with equal importance by the judge. The culmination to the filing will only occur after a month or two later.

              In order that you are well prepared and equipped with the right amount of information, get the assistance of Recovery Law Group – they serve clientele from California, Nevada and Texas states.


                *Are you more than 60 days past due on your mortgage?

                *Do you own a home?

                Are you currently working?

                By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

              • Reducing Your Car Debt – Chapter 13 Bankruptcy

                Reducing Your Car Debt – Chapter 13 Bankruptcy

                Have did you buy your car using finance options over the last two and a half years ago? Then if you are struggling with paying back the car loan, the Chapter 13 bankruptcy in most cases help you reduce the rate of interest on the car loan or reduce the total balance of it.

                Let’s understand further with a scenario – if your car loan balance is $20,000 at the end of three years and if the value of your car is just $10,000, then the remaining $10,000 converts as an unsecured debt (since the car doesn’t secure this). A percentage of this unsecured amount may or may not be paid off by you, in case you formulate a Chapter 13 repayment plan. In a lot of cases, the debtors repay only a small portion of their unsecured debts.

                This opportunity is seen as savings for the debtor where the car loan balance is reduced. The assured benefit for the Chapter 13 bankruptcy filings is that the principal balance on the car loan can be reduced to the replacement value of the car – in the above case, it would be $10,000. The additional benefit for the debtor is that the interest rate would be set between four to six percent. Thus the claims that Chapter 13 bankruptcy for saving your cars and reducing your car debts is definitely a cheaper, effective and better choice compared to Chapter 7 bankruptcy. Chapter 7 bankruptcy is not consumer/ debtor friendly.

                Living in Los Angeles? Getting a good car deal with your car debts is made possible with Recovery Law Group. Their bankruptcy attorney Los Angeles team can strike the beneficial plan around your car debts using Chapter 13 bankruptcy. Call in and book their appointments. The law firm also serves Nevada and Texas states.


                  *Are you more than 60 days past due on your mortgage?

                  *Do you own a home?

                  Are you currently working?

                  By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                • More About Emergency Bankruptcy Filing

                  More About Emergency Bankruptcy Filing

                  The process of filing for bankruptcy usually involves the filling of various forms along with your bankruptcy petition – these forms are mandated by the court. Along with the forms, the debtor needs to gather all supporting information or documentation. This can take up a lot of his time. In cases, where the debtor is really stuck with a crisis situation like the foreclosure of a home or a wage garnishment, then he can file an emergency bankruptcy by filling a few of the needed forms to get the process started.

                  Why an emergency bankruptcy?

                  As soon as you file for bankruptcy, the automatic stay on collecting the dues from the debtor kicks in. Let’s say you have a car loan or a home loan that you haven’t been paying your dues against. The filing of a bankruptcy will stop the car loan financer or the mortgage company from repossessing your vehicle or the foreclosure of your home in this case, at least temporarily. However, there are limits and some exceptions to this automatic stay. Hence reach out to acclaimed bank attorneys for knowing the process of filing an emergency bankruptcy. Recovery Law Group is supportive for handling the minimalistic expectations or filling out of forms in cases of emergency bankruptcy and can initiate the automatic stay for the debtor. In this way, they can help you protect your property and you can take a little more time to complete the rest of the forms needed in this bankruptcy filing.

                  Things to note ahead of emergency filing for Chapter 7

                  Please make a note of the below conditions prior to filing for emergency bankruptcy

                  • The bankruptcy law requires the debtor to take a credit counselling class that has been approved by the court. The only exemption to not take up this course or class is if the debtor is physically impaired or disabled. Another exemption is for debtors who are in active combat zones. The class is also available as online or telephone courses. After the completion of the class (which also mandates the passing of a quiz), the certificate of credit counselling is issued. Please note that the certificate’s date is at least a day ahead of the filing.
                  • If you are seeking the relief from Chapter 7 bankruptcy, ensure that you take up the means test. Check out the guidelines and validate your eligibility with the bank attorney.

                  Emergency filing under Chapter 7 – Forms

                  In order to avail the benefit of the automatic stay, the bare minimum of documents that need to be filled and submitted are mentioned below:

                  Voluntary Petition: This is a document of three pages that contain personal information and the summary of your case viz. the a number of creditors and the approximate amount of debt.

                  Creditor Matrix: The information about the creditors or any other third party who need to be notified of your bankruptcy is chartered in the Creditor Matrix. The local bankruptcy court of your state may stipulate the parties who need to be notified and the required format

                  Exhibit D: The debtor needs to mention that he understands the credit counselling requirement of the court in this case. He supports the Exhibit D form along with the certificate of the credit counselling or mentions the reason for an exemption to the court (if the course hasn’t been completed)

                  Along with the aforementioned forms and a filing fee, you may file for emergency bankruptcy. The bank attorneys may insist of add-on forms to the above if they are mandated by the state that you are living in.

                  Completion of the rest of the forms – Chapter 7

                  The remaining of the bankruptcy filing forms can be completed within 14 days from the date of filing the emergency bankruptcy. The guidance of an experienced bankruptcy attorney Los Angeles for the state of California or even from the team that operates in other states will be crucial to fill out the rest of the forms. They are sometimes 60 pages long and the details that are expected to be furnished in there needs to be accurate and honest. Additional time can be sought from the bankruptcy court if it is needed. If the court approves it, a newer deadline for completion of forms is given to the debtor. Missing deadlines even after getting an approved extension will eventually lead to the dismissal of the case.

                  Understanding the Chapter 13 emergency filing

                  Now let’s quickly check if the process is any different in Chapter 13 as compared to Chapter 7 emergency filing.

                  • The credit counselling requirement stays intact here too. The only difference is that you need to ensure that your income is regular to pay off the debts as per the repayment plan that you will propose in Chapter 13 bankruptcy
                  • The same forms are applicable for Chapter 13 bankruptcy too and the good news is that the filing fee is lesser compared to Chapter 7
                  • Just as in the case of Chapter 7, you will be granted 14 days to finish the rest of the forms. In addition, the proposed repayment plan for Chapter 13 also needs to be completed in this 14-day tenure.
                  • The first payment as per the repayment plan needs to be made with in the 30 days of the emergency filing. Even if you have taken extensions to the deadline for the completion of the form, the date of initial filing is considered for calculating your first payment due. Note that your case can get dismissed, if the first payment is not received on time, by the trustee.

                  Hence understand the need of the situation and if you need an emergency filing, do so with an attorney who has ample experience doing this. He can work with you on the repayment plans, filling of the remaining forms and pursuing extensions on the deadline if you need additional time. Remember that your asset can be secured through the automatic stay and it will be important to be making the right decision with the right team of bank attorneys.


                    *Are you more than 60 days past due on your mortgage?

                    *Do you own a home?

                    Are you currently working?

                    By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                  • Being Prepared For Your Meeting of Creditors

                    Being Prepared For Your Meeting of Creditors

                    The meeting of creditors or a 341 hearing is a mandatory process conducted by the bankruptcy trustee when there is a filing of bankruptcy. During a filing of bankruptcy, the petitioner provides several documentations related to the situation including the petition and schedules. In the hearing process, the trustee gets the opportunity to ask the petitioner questions regarding the furnished information. The answers to these questions have to be answered under oath.

                    If you are an individual who has filed bankruptcy, it is imperative that you have to be part of this meeting of creditors. Needless to say, this meeting can be an anxious ordeal and can make the individuals to panic. But be prepared for this meeting by knowing what will be asked can help alleviate the anxiety prior to appearing for this hearing. (more…)