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Conditions for Stopping Support Collections in Chapter 13
Chapter 13 immediately stops the collection of past-due child or spousal support. But to keep that protection you must meet some conditions for stopping support collections.
Chapter 13 plan
Unpaid Child and Spousal Support in Chapter 13
Chapter 13 DOES stop the collection of unpaid child or spousal support from your after-filing income and other assets. Chapter 7 does NOT.
Unpaid Child and Spousal Support in Chapter 7
Chapter 7 does not stop the collection of unpaid child or spousal support, nor provide any procedure to pay the support. It may still help enough.
Resolve Mortgage Accounting Disagreements
Chapter 13 gives you valuable power to force your mortgage lender to be up front about how much you owe, and to efficiently dispute the amount.
Stripping a Junior Mortgage in Bankruptcy
In determining your ability to strip off a junior mortgage, you must look at the superior liens, the amounts owing on those debts, and the value of your house.
Protecting Excess Home Equity in Chapter 13
Chapter 13 can be an advantageous way to protect excess home equity that is above your homestead exemption.
Time requirements for a Cramdown on Vehicle Loan
The time requirements for a cramdown on a vehicle loan in Chapter 13 requires that your loan is at least two and a half years old. But there are exceptions to this.
Qualifying for a Cramdown
To qualify for a Chapter 13 vehicle loan cramdown, mostly your loan must be at least two and a half years old. There are exceptions to this.
Decrease your Auto Loan
If you can’t afford to pay your vehicle payments even after writing off your other debts under Chapter 7, consider decreasing your auto loan through a Chapter 13 cramdown.
Do you owe income taxes for 2018 AND Earlier Year
Do you owe income taxes for the 2018 tax year AND already owe for one or more tax years? Chapter 13 may be an especially good tool for you.
Dealing with your 2018 income taxes through a Chapter 13 Case Filed in 2019
Do you expect to owe income taxes for the 2018 tax year? Starting January 1, 2019 you can wrap that tax into a new Chapter 13 payment plan.
Filing Chapter 13 in 2019 to Write Off More Income Taxes
Chapter 13 is a riskier, longer, and maybe more expensive way to escape a dischargeable income tax deb--but may still be your best option.
Disadvantages of a Badly-Timed 5-Year Chapter 13 Case
Following up on last week's scenario, here are the financial, credit record, and other disadvantages of a forced 5-year Chapter 13 plan.
Filing Chapter 13 in January May Greatly Shorten Your Case
Do you need a Chapter 13 case? WHEN you file it can mean the difference between a payment plan that takes 3 years and one that takes 5.
Scenario: Filing Chapter 13 Now Shortens a Case by Two Years
Here's a scenario showing how the timing of your Chapter 13 filing can shorten your payment plan from 5 years to only 3.