by GPurkis | Apr 2, 2020 | Uncategorized |
The Small Business Reorganization Act of 2019 (“SBRA”) became effective February 19, 2020. The goal of the Act was to streamline the Chapter 11 process and reduce the costs for those debtors that qualify. Small businesses who are facing cash flow issues due to the...
by GPurkis | Mar 19, 2020 | Uncategorized |
Reaffirmation agreements only pertain to Chapter 7 bankruptcies. Occasionally, a creditor will want you to sign a reaffirmation agreement. Most car companies make the request for their car loans. Essentially, it is a contract that you sign after you file a Chapter 7...
by GPurkis | Mar 19, 2020 | Chapter 13 |
In a Chapter 13 case, the deadline (bar date) for creditors who have claims against the debtor is detailed in the Notice of Chapter 13 Bankruptcy, Meeting of Creditors and Deadlines. The notice is mailed to all creditors a few days after the case is filed. The date...
by GPurkis | Mar 5, 2020 | Chapter 13 |
A proof of claim is a document filed by a creditor for the right to payment as against the bankruptcy estate. The proof of claim should include a copy of the documentation giving rise to the claim, as well as evidence of secured status if the claim is secured. In...
by GPurkis | Feb 20, 2020 | Chapter 13 |
A Chapter 13 debtor is entitled to a discharge upon successful completion of all payments under his or her chapter 13 plan. The Chapter 13 discharge is broader than a Chapter 7 discharge. It is important to strategize before filing for bankruptcy relief to determine...
by GPurkis | Feb 6, 2020 | Chapter 13 |
A Chapter 13 debtor is entitled to a discharge upon successful completion of all payments under his or her Chapter 13 plan. By the time of the entry of the discharge, the debtor would have already completed the terms of the Chapter 13 plan. Monthly payments over a 3-5...
by GPurkis | Jan 23, 2020 | Chapter 13 |
A Chapter 13 trustee is an individual who is appointed by the U.S. Trustee’s Office to be the trustee of the bankruptcy estate of each person who files for Chapter 13 bankruptcy relief. Bankruptcy judges do not handle the day-to-day administration of cases. The...
by GPurkis | Jan 9, 2020 | Chapter 13 |
Yes. A debtor can file a motion at any point during the case to modify the terms of a confirmed Chapter 13 plan. As a little background, the debtor would have filed the chapter 13 plan when the case was filed. A plan contains many provisions including how much the...
by GPurkis | Dec 26, 2019 | Chapter 13 |
When a debtor files for Chapter 13 bankruptcy relief, he or she must file a Chapter 13 plan. A Chapter 13 plan is a written document that essentially is a roadmap for the entire case. It is the basis for the administration of the case. It is what the Chapter 13...
by GPurkis | Dec 12, 2019 | Chapter 13 |
When a debtor files for Chapter 13 bankruptcy relief certain documents are filed with the court, one of which is the Chapter 13 plan. The other documents filed are the bankruptcy petition, schedules and statement of financial affairs. All of the documents are...
