If you've had more than 1 case filed and dismissed within the last year, you'll need to show "good faith" to get automatic stay protection.
Usually your car or truck is protected in bankruptcy with a vehicle exemption. Or if the vehicle is worth too much Chapter 13 can protect it.
Most individual consumer Chapter 7 cases are "no asset" ones. This means that the Chapter 7 trustee doesn't liquidate any debtor assets.
If you are the beneficiary in a spendthrift trust, most likely a bankruptcy trustee can't touch whatever property is in that trust.
Property and possessions that you have a shared interest in can be the kind you don't think of as yours for bankruptcy purposes.
Catching up on property taxes benefits both you and your mortgage lender. Chapter 13 helps you pull this off under much less pressure.
Falling behind on property taxes is dangerous, and scares your mortgage lender. Bankruptcy can help you deal with both.
We're lingering in the Thanksgiving spirit by appreciating what Chapter 13 has to offer.
Most homeowners contemplating bankruptcy have their home equity protected by their homestead exemption. If not, consider Chapter 13.
Bankruptcy helps with your property taxes either by writing off your other debts or by buying you more time to catch up.
Being behind on property taxes is usually a breach of your mortgage. Chapter 13 protects you from your mortgage lender so you can catch up.
You can usually keep your tax refund(s), although doing so may take some maneuvering.
Protect your otherwise unprotected asset(s) by flexibly paying to do so under Chapter 13. Maybe you wonât even need to pay anything extra.
Most people can file Chapter 7 and not lose anything because everything they own is "exempt." But what if something of yours isn't?