Whether your creditor has a security interest determines whether it has rights against your vehicle or other collateral. Find out for sure. Reaffirmation vs. Cramdown The last four blog posts have compared Chapter 7 reaffirmation with Chapter 13 cramdown of a secured debt. With reaffirmation you keep the vehicle or other collateral but continue to owe the debt. Usually … Read More
The Timing of a Personal Property Cramdown
Chapter 13 cramdown doesn’t just work for vehicle loans. You can also cram down debt for the purchase of “any other thing of value.”
Objecting to a Creditor’s Proof of Claim
If you object to a creditor’s proof of claim in your Chapter 13 case, and prevail in that dispute, you pay nothing on that debt.
Relief from the Automatic Stay
Creditors sometimes ask the bankruptcy court for permission to take certain collection action against you or the collateral. In our last blog post we talked about the “automatic stay.” It’s one of the most important benefits of filing bankruptcy. It’s certainly the fastest, going into effect immediately when you or your Louisville lawyer files your bankruptcy case. The automatic … Read More
A Creditor’s Unexpectedly Unenforceable Lien
For a debt to be secured, the creditor has to go through the right legal steps. Otherwise you don’t have to pay the debt.
General Unsecured Debts Written Off under Chapter 13
To the extent you do not pay off your debts during a Chapter 13 payment plan, the remaining balance is usually legally written off forever.
Financial Freedom in Kentucky and Indiana
This 4th of July make your move towards financial freedom. Get informed. You’ll feel tons better once you know your options.
Bankruptcy Simplified
Bankruptcy gives you options for taking charge of your financial life.
Debt Limits Are Increasing
As of April 1, 2016 you can have a little more debt and still qualify for a Chapter 13 “adjustment of debts”
Chapter 7 vs. 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?
Chapter 7 vs. Chapter 13–Your Options with Personal Property Collateral
How does bankruptcy treat something you bought–furniture, an appliance, or some electronics–when that thing is collateral on a debt?
Chapter 7 vs. Chapter 13–Keeping a Vehicle You’re Behind On
Two similar scenarios, two very different solutions for keeping a vehicle if you’re behind on payments.
How Bankruptcy Helps With a Recorded Income Tax Lien that Is Partially Secured by Your Assets
A tax lien may attach to something you own, worth less than the amount of the tax you owe. How can you get rid of that tax lien?
Crucial Question: Can I Exclude a Creditor from My Bankruptcy Case?
In general, you must include every creditor in your bankruptcy documents. Most concerns you may have about this can be satisfied.
Crucial Question: In a Chapter 7 Case, How Do You Keep Collateral That’s Not a Home or Vehicle?
Have your attorney first make sure that your creditor has a right to the collateral. If so, arrange to pay for the right to keep it.
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