What Is a Lien Strip? (Bankruptcy 13)

What Is a Lien Strip? (Bankruptcy 13)

This entry is part 10 of 10 in the series Chapter 13 FAQsLien stripping allows a Chapter 13 debtor to remove a junior mortgage secured against the debtor’s real property. Lien stripping does not apply to first mortgages. First mortgages on residential real estate...
What is a Proof of Claim?

What is a Proof of Claim?

This entry is part 8 of 10 in the series Chapter 13 FAQsA proof of claim is a document filed by a creditor for the right to payment as against the bankruptcy estate. Proofs of claims can be filed by a wide variety of creditors such as general unsecured creditors...
What is a Chapter 13 discharge?

What is a Chapter 13 discharge?

This entry is part 6 of 10 in the series Chapter 13 FAQsA 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...
Who is a Chapter 13 trustee?

Who is a Chapter 13 trustee?

This entry is part 5 of 10 in the series Chapter 13 FAQsA 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...