Saving Your Car with A Chapter 13 Bankruptcy – In Order to Do So, You Must File Chapter 13 BEFORE Your Car is Repossessed In the 11th Circuit Court of Appeals case of Lewis v. Charles R. Hall Motors, Inc. (In re Lewis), 137 F.3d 1280, 1282 (11th Cir.1998), the Appeals Court determined that Alabama Debtors cannot compel the return of a car that was repossessed prior to the filing of their bankruptcy case. Occasionally, a creditor will agree to give the car back but
How to Stop a Foreclosure with a Chapter 13 Bankruptcy Case
How to Stop a Foreclosure with a Chapter 13 Bankruptcy Case Are you behind on your mortgage? Is your lien holder threatening to foreclose on your home? If you are facing Foreclosure, an Experienced Birmingham or Tuscaloosa Bankruptcy Lawyer Can Help! Many people get behind on their mortgage because of lost earnings, illness, or other circumstances that are sometimes beyond their control. When their financial situation improves, they find themselves fighting to save their home while the mortgage company demands thousands of dollars, in a
Lien Stripping in Chapter 13
Lien Stripping in Chapter 13 – Can it be done? What is Lien Stripping? Lien stripping is the process used to split (bifurcate) a secured claim into two parts. The first part of the claim is secured to the extent of the value of the property. The second part of the claim is treated as unsecured since there is no value to which the claim can attach. The statutory authority for splitting a claim into a secured and an unsecured portion is found in 11
Where Will My Bankruptcy Case Be Filed?
The place where you live usually determines where your bankruptcy case will be filed. Your bankruptcy case will be filed in the federal district in which you have resided the longer of the last 180 days prior to the filing of your bankruptcy case. It would also be proper to file a case in the place where your principal assets are located. The place where your principal place of business is located is also a proper venue for the filing of your bankruptcy case. Understanding
20 Benefits of Filing A Chapter 13 Bankruptcy Case
Chapter 13 Bankruptcy cases are sometimes called “Wage Earner’s Plans” or “Debtor’s Court.” In Chapter 13 you are given a chance to repay some, or all, of the debt you owe. If you pay less than 100% of your unsecured debt, your case is known as a “composition case.” Such cases are also sometimes called “percentage cases.” Chapter 13 bankruptcy cases offer debtors unique opportunities to restructure their finances. Below are 20 benefits of filing a Chapter 13 Bankruptcy case: 1. You can file Chapter
You Get What You Pay For in Bankruptcy
The craze in the world of Bankruptcy these days seems to be attorneys offering to file a case for you for little or nothing. When I drive to Birmingham I always see signs for bankruptcies beginning at $599 or Internet adds for $629 or $999 total. As an experienced bankruptcy lawyer, I know that there is always a “catch” with these ads. Either the ads are only disclosing the attorney fee and not the almost $400 in expenses that must be paid or there are
Bankruptcy and the Debtor’s Responsibilities
If you are serious about getting out of debt you have to step up to the plate and take charge. Getting out of debt takes work. Your bankruptcy lawyer cannot do all the work for you. You must be invested in your case if you want to get a fresh start. Providing Documents The first thing you need to do as a Debtor is to provide all the documents your lawyer requests. Trust me: your bankruptcy lawyer is not going to ask you for documents
How Much Will I Have to Pay in My Chapter 13 Bankruptcy Case?
Yesterday I wrote a post on how your Chapter 13 payment is determined. This morning I reread the post and thought to myself….hmmm would I understand that if I was looking at filing a Chapter 13 bankruptcy case? Don’t get me wrong, the post is full of great information that you need to know. At the same time, you get to the end of the post and still have no idea how much you are going to have to pay. So, I thought I would
Should I file a Chapter 7 Bankruptcy Case or a Chapter 13 Bankruptcy Case?
The type of bankruptcy case that you should file is something that can only be decided after a careful review of all of your facts and circumstances. Your bankruptcy lawyer must know about every asset you own and every debt you owe to determine which type of bankruptcy will give you the most benefit. Your bankruptcy attorney must also know how much you earn, how much you spend, whether you have made any recent purchases with credit cards, whether you have been accused of fraud,
What Happens After my Chapter 7 Bankruptcy Case is Filed?
30 Days after filing—The Meeting of Creditors Approximately 30 days after the filing of your Chapter 7 Bankruptcy Case, you will appear before a bankruptcy trustee for your first meeting of creditors. The first meeting of creditors is also called a 341 meeting. At the meeting, the bankruptcy trustee will ask you very basic questions about your assets and debts. Creditors have the right to attend the meeting of creditors, however, few of them do. Keep in mind, however, that a creditor failing to appear