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.
List all Creditors in Your Bankruptcy Case
If you don't list a debt in your bankruptcy case, and don't add it in on time, it may not be written off. So carefully include all debts.
Your Debts in Bankruptcy
Bankruptcy is about debts. Different categories of debts are treated differently. The categories are secured, priority and general unsecured.
The Surprising Benefits: Ending Your Vehicle Lease under Chapter 13
Chapter 7 gets you out of a vehicle lease owing nothing. Chapter 13 is more complicated but can give you pretty much the same good result.
A Creditor’s Challenge to the Automatic Stay to Pursue a Lawsuit
A creditor may ask the bankruptcy court to let another court finish a lawsuit about liability and/or the amount of damages.
“General Unsecured Debts” in Chapter 13
You pay your general unsecured debts only as much as you can afford during a Chapter 13 plan, with the rest then legally written off forever.
“General Unsecured Debts” in Chapter 7
In a Chapter 7 case all or most "general unsecured debts" get "discharged"--legally written off. That's one of the big benefits of Chapter 7.
Unsecured Debts in Bankruptcy
Your debts are either secured by something you own, or they are unsecured. Unsecured debts are either "priority" or "general unsecured."
A Sample Completed Chapter 13 Case
What does the completion of a successful 3-to-year Chapter 13 case look like?What happens to your assets and debts?
Treatment of Different Types of Creditors in Chapter 13
The laws about the treatment of different types of creditors can often be used in your favor to pay who you want or need to pay.
Objecting to a Proof of Claim to Defeat a Creditor
If your liability dispute with your creditor spills into your Chapter 13 case, the bankruptcy court may be a good forum to fight it out.
Potentially Pay Nothing to Most Creditors in Chapter 13
In some jurisdictions you can pay nothing to your "general unsecured" creditors, if all your money goes to paying higher priority ones.
Creditors Paid Nothing under Chapter 13
Chapter 13 payment plans usually have you pay something to all of your creditors. But not necessarily. Certain creditors may get nothing.
Unsecured Creditors’ Proofs of Claim in Chapter 13
Often creditors' proofs of claim do not affect the amount you have to pay in a Chapter 13 case. But sometimes they make a huge difference.
“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.
