Wednesday, July 25, 2012
Free Consultation
If you are struggling with debt contact us for your free bankruptcy consultation. We have locations in Eastgate, Middletown and Fairfield to serve you.
Wednesday, July 18, 2012
Can I keep my car in Chapter 7?
Yes you may keep your car, if that is what you want to do. If you want to keep your vehicle you will need to be current on your payments and basically re-sign on your debt by signing a reaffirmation agreement. There is also a redemption option where a finance company could re-finance your vehicle for the current value if you are upside down on your vehicle.
However, if you do not want to keep your vehicle it is not necessary to keep it.
However, if you do not want to keep your vehicle it is not necessary to keep it.
Wednesday, July 11, 2012
Benefits of Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is a 3-5 year payment plan to re-pay a percentage of your debts and receive a discharge. This percentage can range from 1% to 100% depending on your individual circumstances. At the completion of your plan you will receive your discharge, this is the legal determination that your unsecured debt balances that remain after the plan are wiped away and cannot be collected on, giving you a clean slate.
If you are behind on your home or vehicle Chapter 13 can stop foreclosure or repossession.
The Chapter 13 office can also resume your regular house payments, upon completion of the case the Bankruptcy Court will issue a statement that the payments are current. This means the lender cannot come back and say there are additional attorney fees or other charges.
Sometimes it is possible to strip a second mortgage from your home. This means that if you have a second mortgage there is a possiblity that it could be turned into an unsecured debt and the lender would have to release their lien on your property upon receipt of discharge.
Chapter 13 can help you get back on your feet and keep all of your assets.
If you are behind on your home or vehicle Chapter 13 can stop foreclosure or repossession.
The Chapter 13 office can also resume your regular house payments, upon completion of the case the Bankruptcy Court will issue a statement that the payments are current. This means the lender cannot come back and say there are additional attorney fees or other charges.
Sometimes it is possible to strip a second mortgage from your home. This means that if you have a second mortgage there is a possiblity that it could be turned into an unsecured debt and the lender would have to release their lien on your property upon receipt of discharge.
Chapter 13 can help you get back on your feet and keep all of your assets.
Monday, July 2, 2012
IRS DEBTS
Not very many people know that some IRS debts can be discharged through bankruptcy. If you are struggling with IRS debt contact our office for a free consultation to review your individual case. You may be able to discharge your IRS debts through bankruptcy.
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