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Monthly Archives: July 2013

Elements to a Successful Chapter 13 Repayment Plan

Some debtors may seek bankruptcy protection in order to get a better handle on their finances. Reorganizing debt is their goal, not liquidating debt all together. If this is what you aim to do, Chapter 13 bankruptcy might be the right choice for you. Chapter 13 bankruptcy is often called a “wage-earner plan” because the […]

Filing Bankruptcy May Even Stop IRS Collections

Mounting tax debt can cause extraordinary emotional stress and lead to financial ruin. Bankruptcy can be an effective tool in eliminating debt, including federal and state income taxes. However, not all tax debts qualify for bankruptcy, and failure to file bankruptcy in a timely manner can cause tax debts to fall outside your bankruptcy estate. […]

Retirees Lose Big by Borrowing Against Hard-Earned Pension Funds

Consumer-watch groups warn that older Americans may be at risk of losing their pensions to loan scammers. Recently, aggressive lenders have been targeting retired teachers, military veterans, first responders and other pension holders to take out cash advances from their retirement funds. These so-called advances are in reality craftily disguised loans that carry extraordinarily high […]

Exceptions to Automatic Stay

In this sluggish economy, people from various economic backgrounds struggle with burdensome debt. High credit card bills, medical expenses or job loss can cause you to have a disproportionate debt-to-income ratio. Some people turn to bankruptcy to get debt relief. One of the benefits of filing for bankruptcy is that it stops creditor collection actions. […]

Frequently Used Terms in Chapter 13 Bankruptcy Cases

People who file Chapter 13 bankruptcy petitions have the advantage of retaining personal and real property while paying off their debt through an affordable plan. Some people use Chapter 13 as a way to save their homes from foreclosure or their automobiles from repossession. Other people seek to restructure secured debt (other than their homesteads) […]