by Geoffrey Purkis | May 14, 2020 | Chapter 13 Bankruptcy
Lien 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 cannot be modified. Lien stripping is available only for...
by Geoffrey Purkis | Mar 19, 2020 | Chapter 13 Bankruptcy
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 Geoffrey Purkis | Mar 5, 2020 | Chapter 13 Bankruptcy
A 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 (credit cards, pay day loans, medical bills, etc), priority...
by Geoffrey Purkis | Feb 20, 2020 | Chapter 13 Bankruptcy
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 Geoffrey Purkis | Feb 6, 2020 | Chapter 13 Bankruptcy
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 Geoffrey Purkis | Jan 23, 2020 | Chapter 13 Bankruptcy
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...