Archive for Bankruptcy
What Do I Do About a Bogus Proof of Claim?
Possibly the most important issue to handle in a Chapter 13 bankruptcy case is how to handle proofs of claim.
A proof of claim is filed by a creditor after a Chapter 13 bankruptcy case is filed. Its essentially the way for a creditor to raise their hand and say, you owe me money, please pay [...]
When Will My First Trustee Payment Be Due? What About My Mortgage?
Maybe the most important question I get one filing a Chapter 13 bankruptcy on behalf of a Lehigh Valley client is white is my trustee payment due, and when is my mortgage payment due.
Generally speaking your trustee payment will be due 30 days from the date of filing. If you file your bankruptcy on September [...]
My Confirmation Hearing Got Postponed, Now What?
Confirmation can often be the most difficult part of a Chapter 13 bankruptcy case. There is an awful lot of haggling between your attorney and the trustee that goes on prior to confirmation.
In most cases, the first hearing on confirmation is continued, so it isn’t anything to worry about if you keep in touch with [...]
Who is the Bankruptcy Trustee Anyway?
One of the most common questions I get my bankruptcy practice is: “What is a bankruptcy trustee?”
Perhaps the proper question is who. In both Chapter 7 and Chapter 13 bankruptcy, the bankruptcy trustee represents your creditors in the bankruptcy court. It is a trustee’s job to look out for the interests of the creditors.
That doesn’t [...]
My Bankruptcy Case Was Dismissed, What Now?
Recently the bankruptcy law network website posted an article regarding the dismissal of the bankruptcy case and what happens if your case is dismissed. My Bankruptcy Case Was Dismissed, What Does That Mean? The information is accurate, however it didn’t really give you a solution to the problem other than call your attorney.
My response: “good [...]
Beware Out of State Loan Modification Companies Soliciting Chapter 13 Filers
Recently, a mortgage modification company from outside the area has been soliciting Chapter 13 bankruptcy filers in Philadelphia and Allentown with an offer of modifying their mortgage.
Getting a mortgage modification after a Chapter 13 case is filed is tricky enough, if the Chapter 13 plan authority been confirmed, it requires permission from the court to [...]
Dealing With Debt Can Be A Mental and Mathematical Issue
By now everyone’s heard that word the worst economy since the Great Depression, while not certain of that, but one man’s bustling economy can be another man’s depression, and whether or not we’re actually the worst economy since the Great Depression really is irrelevant to the person who hasn’t been able find a job for [...]
How to Handle a Credit Card Case in the Pennsylvania State District Court
It can be unnerving to defend a credit card debt case in front of the magistrate in the Pennsylvania district court system. In Pennsylvania, magistrates generally can hear matters up to $8000, so many credit card cases find their way into the Pennsylvania district court.
The first thing that you need to know about magistrates is [...]
Wrong Answer at 341 Meeting May Cost You Your Home
The 341 meeting of creditors in bankruptcy cases generally a simple meeting. In the northern part of the Eastern District of Pennsylvania, which covers Lehigh and Northampton County, one of the most dangerous questions to be unprepared for is “What is the value of your home?”
It seems like it should be an easy question, however [...]
So Chapter 13 can save my house… but I shouldn’t do it?
The Lehigh Valley has been hit particularly bad during this mortgage foreclosure crisis. Consumers from Allentown, Bethlehem, Easton, and the surrounding cities and suburbs are finding themselves past due on mortgages that are significantly higher than what they could sell their home for.
It was doomed to happen. In 2005, houses routinely fetched $250,000 to $300,000 [...]