Because of Chapter 13’s much more powerful automatic stay, its ability to prevent judgment liens and tax liens is extremely valuable.
Power over Your Secured Debts through Chapter 13
Chapter 7 strengthens your hand with your secured debts. But Chapter 13 can be much stronger. Starting with a more potent “automatic stay.”
Chapter 7 Power over Your Secured Debts
Stop secured creditors from taking your property, unsecured debts from turning into secured ones. Keep or surrender collateral as you wish.
Secured Debts
Creditors with secured debts often have much more leverage against you than with unsecured debts.
Protecting Business and Investment Real Estate
Chapter 13 can be an effective way to temporarily or permanently hold on to business and investment real estate equity and income.
Benefits from Chapter 13 for Business and Investment Real Estate
Chapter 13 can be an effective way to keep or unload business and investment real estate.
Sell Real Estate under Chapter 13
Chapter 13 is often a better way to get sell real estate, especially if you have other financial complications.
Surrender Non-Home Real Estate in Bankruptcy
Chapter 7 writes off your mortgage debt as well as many other debts. It might be a way to pay your “priority” debts as well. If you own real estate that is NOT your home, and you’re considering bankruptcy, there’s a good chance that real estate is part of what’s dragging you down financially. Maybe you made an investment that turned sour. … Read More
Real Estate That’s Not Your Home
Whether you can keep other real estate depends first on whether it’s “exempt.”
Child and Spousal Support Liens on Your Home
A support obligation is a very special kind of debt, and the resulting lien on your home has to be dealt with in a very special way.
Statutory Liens on Your Home in Bankruptcy
Bankruptcy cannot remove contractor’s liens or other statutory liens from your home, but both Chapter 7 and 13 can help you deal with them.
Removing a Judgment Lien from the Title to Your Home
The potential ability to get rid of judgment liens from your home’s title is an impressive benefit of bankruptcy.
Stopping a Judgment Lien from Hitting Your Home
Letting a creditor get a judgment against you is dangerous, for a lot of reasons. One of the biggest dangers is a judgment lien on your home.