When a Creditor Does Not Enforce its Lien in Chapter 13
When a creditor fails to enforce its lien in a Chapter 7 case, you are left exposed. Not so under Chapter 13.
“General Unsecured” Debts Discharged in 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.
“Avoiding” a Judgment Lien on Your Home in Chapter 13
Both Chapter 7 and Chapter 13 can wipe away judgment liens. But doing so under Chapter 13 can be better when used with its other benefits.
Catching Up on Your Property Taxes through Chapter 13
If you are behind on property taxes on your home, Chapter 7 often doesn't give you enough time to catch up. But Chapter 13 likely would.
A Second Mortgage “Strip” through Chapter 13
"Stripping" off a second mortgage has major immediate and long-term benefits.
Catching up on Your Home Mortgage through Chapter 13
You have much, much more time to catch up on unpaid mortgage payments, as well as any unpaid property taxes.
Chapter 13 Benefits Directly Related to Real Estate Other than Your Home
Chapter 13 can be an effective way to keep or unload business and investment real estate.
Selling Real Estate Other than Your Home under Chapter 13
Chapter 13 is often a better way to get sell real estate, especially if you have other financial complications.
Addressing a Child or Spousal Support Lien through Bankruptcy
A support obligation is a very special kind of debt, and the resulting lien on your home has to be dealt with in a very special way.
Resolving a Recorded Tax Lien Partly Secured by Home Equity
Chapter 13 forces the IRS/state to accept only partial payment on an income tax debt that is only partially secured by a tax lien.
Escape Your Underwater Second Mortgage
If your second (or third) mortgage is not backed by any equity in your home, you can "strip" that mortgage off your home's title.
Keeping Your Home through Chapter 13
Chapter 13 gives you much more time to catch up on your unpaid mortgage payments. That can be reason enough choose this option.
Getting Out of Your Vehicle Loan through Bankruptcy
Keeping a vehicle and its debt is sometimes not the best option. Chapter 7 and Chapter 13 can both give you a safe way out.
The Discharge of Debts in Bankruptcy
In your goal of getting a fresh financial start, your most important tool is the "discharge"--the permanent legal elimination of your debts.
The 3 Kinds of Debts
Your debts can be "secured," "priority," or "general unsecured." How bankruptcy treats your debts depends on which kind they are.