Bankruptcy gives you immediate and long-term relief from your creditors. But there are many other unexpected benefits of bankruptcy. The next 12 blog posts will be about some of the most powerful and surprising benefits of bankruptcy. You’re likely considering bankruptcy because you need financial relief. You need immediate relief from debt collection pressures. You need long-term relief from having to pay … Read More
There are certain scenarios when your home mortgage is current and you’re dealing with other home-related debts that Chapter 7 works well. You’re current on your home mortgage payment, although you’ve been struggling mightily to keep it that way. You’re thinking very seriously about getting some financial help through bankruptcy. But you absolutely want to keep the home that … Read More
Chapter 7 provides limited help if your home is encumbered by a statutory lien. Instead Chapter 13 may significantly reduce what you pay.
Statutory liens on your home cannot be gotten rid of in bankruptcy like judgment liens often can. So it’s important to know what they are.
Bankruptcy can’t write off certain kinds of debts. Chapter 7 may give you enough help to avoid liens on your home from those debts.
Chapter 7 sometimes doesn’t give much help with tax liens. But Chapter 13 hugely helps with tax liens already recorded, and stops new liens.
A tax lien fully encumbered by the equity in your home is dangerous. Chapter 13 may be your best option.