Bankruptcy can protect your home from judgment liens. It can stop a lawsuit from becoming a judgment, and then a judgment lien. Judgment Liens Are Dangerous Our last blog post was about how filing bankruptcy can sometimes remove, or “avoid,” a judgment lien from your home. This is a great potential benefit of bankruptcy if a judgment lien has … Read More
Remove a Judgment Lien from Your Home
One great benefit of bankruptcy is the ability to remove a judgment lien from your home. It’s almost as helpful as writing off that debt. The Problem, and the Bankruptcy Solution Do you have a judgment lien on your home? If so, the debt on that judgment is secured by whatever equity you have in your home. The debt … Read More
Stripping a Second Mortgage with Chapter 13
Under the right circumstances bankruptcy can strip a second (or third) mortgage off your home’s title, and radically reduce how much you pay. Summary Do you have a second or third mortgage on your home? Imagine if you could stop paying that monthly mortgage payment. Imagine over the course of the next 3 to 5 years paying only as … Read More
Catch up on Property Taxes through Bankruptcy
Bankruptcy helps you catch up on property taxes: Chapter 7 discharges other debts, Chapter 13 helps with your mortgage & other special debts. Bankruptcy Stops a Property Tax Foreclosure Filing either a Chapter 7 “straight bankruptcy” or a Chapter 13 “adjustment of debts” case stops a foreclosure by your property tax authority. Filing bankruptcy stops most forms of debt collection … Read More
A Powerful, Affordable, Flexible Way to Catch up on Your Mortgage
Chapter 13 gives you a powerful, affordable, flexible, safe and successful method to catch up on your missed payment and save your home. Chapter 7 “Straight Bankruptcy” and Chapter 13 “Adjustment of Debts” The two main consumer bankruptcy options are Chapter 7 and Chapter 13.Most Chapter 7 cases only takes a few months—usually 3 to 4 months—from filing to … Read More
Afford to Pay Your Home Mortgage through Bankruptcy
Chapter 7 clears away your other debts so that you can afford to pay your home mortgage. Chapter 13 does so by helping you deal with special debts. Both Chapter 7 and Chapter 13 Improve Your Cash Flow A Chapter 7 “straight bankruptcy” case would very likely quickly write off (“discharge”) many of your debts. For many people it discharges most … Read More
Use Chapter 13 to Protect Home Equity
Chapter 13 gives you a unique, safe, flexible, and practical way to protect home equity that is larger than your homestead exemption. The Problem of Too Much Home Equity Our last two blog posts were about protecting the equity in your home through the homestead exemption. Two weeks ago was about protecting the current equity; last week about protecting future equity. The blog … Read More
Protect Future Home Equity with Bankruptcy Now
An underappreciated benefit of filing bankruptcy now is that doing so will protect the equity that your home will build in the future. Our last blog post discussed how to protect the equity currently in your home through the homestead exemption. We discussed property exemptions in bankruptcy in general, and federal and state homestead exemptions in particular. Overall we showed how … Read More
The Homestead Exemption in Chapter 7 Bankruptcy
The homestead exemption protects the equity you have in your home. If you don’t have too much equity, consider Chapter 7 bankruptcy. Our last two blog posts outlined 15 separate ways that bankruptcy can protect your home now and/or in the future. We’ll be explaining each one of these ways in 15 separate blog posts. Here is the first … Read More
More Ways Bankruptcy Benefits Your Home
Bankruptcy helps with more than just your mortgage. You can avoid, or deal constructively with, judgment, income tax, support and HOA liens. Last week we gave you 7 ways that bankruptcy can either save your home now or protect it going forward. Here are the remaining 8 ways (#8 through #15), mostly involving involuntary liens placed on your home … Read More
List of How Bankruptcy Benefits Your Home
If you’re having trouble making your mortgage payments, or other home-related debts, here’s a list of the many ways how bankruptcy can help. Here’s the List We’ve got a list of 15 separate ways that bankruptcy can either save your home now or protect it in the near future. Here are the first 7—the other 8 we’ll give you … Read More
Reducing Payments on Furniture and Other Secured Debt
You can lower your monthly payments, the interest rate, and amount you pay on furniture purchases, secured credit cards, and pawn loans. Our last 4 blog posts have been about Chapter 13 cramdown of vehicle loans. For most people filing a consumer bankruptcy case, their vehicle loan is their largest and most important personal property debt. But cramdown can also … Read More
Example of Vehicle Loan Cramdown
This example of Chapter 13 vehicle loan cramdown illustrates better than any list of rules how you can save money immediately and long-term. Our last 3 blog posts have been about Chapter 13 cramdown of a vehicle loan. Cramdown can reduce your loan’s monthly payments, its interest rate, and the total you pay for your vehicle. Often you end … Read More
Don’t Need to Pay Late Payments through Vehicle Loan Cramdown
With Chapter 13 vehicle loan cramdown, you don’t have to pay any late payments. And that’s on top of reducing your future monthly payments. Our last two blog posts have been about lowering monthly vehicle loan payments through Chapter 13 cramdown. This also often reduces the total that you pay on the loan until your vehicle is free and … Read More
Qualify for Cramdown of Your Vehicle Loan
You qualify for cramdown (reducing your monthly vehicle loan payment and total paid until you’re free and clear) mostly through good timing. Last week’s blog post was about lowering monthly vehicle loan payments through Chapter 13 cramdown. This also often reduces how much you end up paying on the loan, and often even reduces its interest rate. Cramdown usually … Read More