Why? Because you may be able to keep a car you thought you couldn’t afford. As a Colorado Springs bankruptcy attorney, in certain cases I’ve been able to use Chapter 13 to allow my clients to pay smaller monthly car loan payments. You may even be able to pay off your car loan and own the […]
One of the worst ways to hurt one of your creditors is by being nice to him, her, or it. Specifically, if you pay a creditor more than you are paying to your other creditors before you file your bankruptcy, then that “favored” creditor may be required to give back that extra money so that […]
Both Chapter 7 and Chapter 13 stop a foreclosure of your home. One or the other COULD be better for you. Which one is it? Many considerations come into play when deciding whether a Chapter 7 or 13 bankruptcy will be the better path for you. If we focus only on the factors involved in […]
Both Chapter 7 and Chapter 13 can help you save your home. Which one is better for YOU? You’ve probably heard that filing a bankruptcy stops a foreclosure. You may have also heard that Chapter 13—the repayment version of bankruptcy—can be a good tool for saving your home in the long run. Both statements are […]
Does the recent increase in foreclosures signal the long-anticipated surge in defaults of adjustable-rate mortgages that were scheduled to reset their interest rates right about now? That’s a question that came to mind when I noticed the recent uptick in new home foreclosures. Option ARMs gave borrowers a choice of paying principal and interest, interest-only, […]
In August, mortgage lenders started so many home foreclosures that the month-to-month increase was the biggest since August of 2007. For nearly a year the number of foreclosures has been relatively low as lenders have reacted to an explosion of challenges to the legality of their mortgage and foreclosure practices. But this new surge in […]
That all depends on whether your case is filed under Chapter 7 or Chapter 13. Assuming that you’ve provided your attorney with all of the information needed to get the case filed, for a Chapter 7 case, you should figure that it will take about four to five months until you get your discharge. For […]
In VERY RARE circumstances, ALL of your creditors can pursue you EVEN if you file for bankruptcy. Here’s how to avoid these rare but serious circumstances. In my last blog I listed three special classes of debts for which you can still be pursued even though you filed for bankruptcy. They are exceptions to the […]
You can’t be sure that filing a bankruptcy will immediately stop every act against you by all of your creditors. Or can you? Isn’t one of the most important benefits of filing for bankruptcy that it puts a screeching halt to all collection efforts against you and your property? Yes. And in most cases it […]
In my experience the number one reason people choose to file Chapter 13 instead of Chapter 7 is to save their home. And it’s not just because Chapter 13 gives you a bigger hammer against your mortgage company; It gives you a hammer, but also a whole bunch of other tools. Some are more subtle […]
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