If you own a home, Indiana law allows you to protect a portion of the equity in that home. A liquidation analysis determines what would be available for creditors after you deduct the cost of sale and other expenses. We recently discussed several aspects of bankruptcy with Christopher Holmes and Jess M. Smith, III, partners […]
Foreclosure of Home / House / Real Estate
Retirement accounts are exempt from creditors when filing for bankruptcy, but an inherited IRA is not. A recent ruling extending the time to cure arrearage might help you save your house after a tax sale. Editor: We recently discussed the changes in the bankruptcy laws with Christopher Holmes, Jess M. Smith, III, partners at Tom […]
When foreclosure of a house is a threat, many homeowners seek debt relief through bankruptcy. A fairly common theme in this type of situation is the presence of a second mortgage. Another common aspect in this scenario is that homeowners are unaware of the second mortgage on their home. How does this happen? We recently […]
Thanks for submitting your question. You can accomplish different goals if you declare bankruptcy, so you need to consider all of the details of your lenders’ promissory notes and mortgages, along with your complete financial and credit position, to determine your best course of action. This answer to your question does not consider your specific […]
Our office often works with creditors to try and negotiate a lower settlement on claims and has reached great success. Our office oftentimes has a greater success in non-bankruptcy workouts because the threat of bankruptcy is always on the creditors mind when we negotiate. Creditors know that our office has filed thousands of bankruptcies and […]
Filing for bankruptcy may delay (Chapter 7) or prevent (Chapter 13) you from losing your primary residence to foreclosure. If you are at a point where you need more information about the affect foreclosure might have on your ability to file for bankruptcy, you probably should contact us right away. We can help you.
Real estate property other than your primary residence may not be considered as exemptions in a personal bankruptcy case, but every case is different, so your situation would need to be looked at in more detail. For a free consultation about your circumstances, please contact us.
Filing for bankruptcy after you have applied for a loan modification may jeopardize your application. Applying for a loan modification after you have filed for bankruptcy can be a very complex process that includes notifying the court, so it should only be done after consultation with your bankruptcy attorney. For immediate assistance, please contact us.