Bankruptcy Filing Debtor Education and Credit Counseling Certificates late Since 2005 Congress has required consumer debtors to attend a credit counseling class before they file. They also must attend a Debtor Education class after they file to get the discharge. Our office can easily prepare a petition with just the income Information. However, we cannot…
Your Chapter 13 Payment Plan and How to Calculate an Example
A Chapter 13 can be cheaper than a Chapter 7. A Chapter 7 does not have to repay the priority and secured creditors. But every Chapter 13 plan must repay the Priority Claims and Secured arrearages in full. Since the interest and penalties can be repaid in part for these debts a Chapter 13 can…
Voluntarily dismissing a Chapter 13 109g and refiling
Problems can continue to happen to good people after they file a Chapter 13 to attempt keeping their home. You may have filed the Chapter 13 in good faith hoping to make the payments. However, you may have later fallen behind again due to disability, divorce, death in the family or other problems. Voluntarily Dismissing…
Finishing a Chapter 13 Plan And Getting a Complete Discharge
Once your plan payments are complete the Court or Trustee will file a notice that a request for discharge must be completed. The Request for discharge is a simple one page form which states the home address of the Debtor and place of employment at the time the case closes. Each district may has a…
Common Chapter 13 Problems
Motion to Dismiss for failure to make payments to the trustee Things happen. Divorce, disability, job loss. It is relatively easy for problems to happen and for you to fall behind on the plan payments to the trustee. When you do fall behind the trustee will file a motion to dismiss the case. If the…
How to Calculate Chapter 13 Plan Payments
Your Chapter 13 plan must Calculate Chapter 13 plan payments which pay the secured and priority debts in full. The unsecured debts may be paid as low as 0%. If you properly include all your reasonable and necessary expenses this percentage is often well below 50%. We include items like 401k retirement expenses if you…
Why review a Chapter 13 Schedule of Allowed Claims?
About 1-2 months after your 341 or confirmation hearing in the Western District of Kentucky your attorney is required to file a “Schedule of Allowed Claims”. We always request a client to look over claims with us. Unless you look over the claims with your attorney, this will just be a list of filed claims. Courts…
Car Cramdowns vs Redemptions
Chapter 13 Auto Cramdowns vs Chapter 7 Car Redemptions The problem of negative equity in an auto Debtors often have problems with their cars in a bankruptcy. You have negative equity if you owe more than the auto is worth. If you have negative equity in your auto you are often able to cramdown your car in a…
Chapter 13 Modification, Conversion, Refiling and Early Discharge
Sometimes a debtor loses income and cant complete a Chapter 13. For instance what if a debtor contracts cancer, cant work and complete his Chapter 13 or needs time off from the payments. There are four options to prevent having your case tossed out because you are not making payments. Modification of a Chapter 13 plan…
Free Financial Peace University Bankruptcy Edition Course
We want persons who have filed bankruptcy to have free access to Dave Ramsey’s financial peace university training. This is the edition for persons who have filed bankruptcy. You can also download a free copy of our book which explains how to get the most benefit from bankruptcy when you file. This may be eventually canceled…