As a result of the recent rise of the prime rate, vehicle loans included in Chapter 13 bankruptcy plans can have a higher interest rate than in the past few years. Despite the resurgent economy, single mothers are still vulnerable to financial difficulties. Student loans cannot be eliminated by filing for bankruptcy, but one of […]
If you have a pending personal injury claim when you file for Chapter 7 bankruptcy, you relinquish to your trustee all control of the settlement of the case, but you retain some control with a Chapter 13 bankruptcy. In rare Chapter 13 cases, the cram-down method of reducing debt for an automobile can be used […]
If you will be filing for bankruptcy protection, you have a few options regarding the best way to pay off a car loan or to buy a new vehicle before or during the period of a Chapter 13 bankruptcy. How Much? FEES Our Locations? 3 INDY OFFICES Need Help? CONTACT US […]
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 […]
Are you behind in your monthly car or truck payments to the point where you are unable to satisfy your bank or financial institution and they’ve placed the loan in default? If you answered “Yes,” there may be a way out of your tough situation. If you’re having financial troubles and are desperate to avoid […]
In the previous installment of our series “Basics of Bankruptcy,” we discussed some of the reasons to file a Chapter 13 bankruptcy rather than Chapter 7 as they relate to mortgages. This post looks at reasons why Chapter 13 might be the better choice for personal bankruptcy than Chapter 7 in relationship to cars and […]
Yes, there are several different chapters of bankruptcy and we will make sure that you are able to keep your vehicle whether you are current on payments, whether you are behind on payments, or even if you own it outright. A vehicle is necessary for your “fresh start” and both courts and creditors agree that […]
Whether you can or should keep more than one vehicle after you file for bankruptcy will depend on several factors regarding your realistic needs and vehicle titles. You should consult with your bankruptcy attorney before you sell any vehicles you currently own. For immediate assistance, please contact us.