Is your Chapter 13 plan paying back mortgage payments that were delinquent when you filed bankruptcy? If so, a mortgage interest tax deduction lurks, unclaimed, in the trustee’s records. Track down that tax deduction, add it to your tax return, and you reduce your federal income tax burden. But it’s difficult because, for reasons I […]
How To Save Your House With Chapter 13 Bankruptcy
Saving your house from foreclosure ranks high on the list of reasons people file Chapter 13. The automatic stay stops foreclosures; Chapter 13 gives you time to fix the problem. Powerful stuff. But the stay and more time, alone, aren’t enough to save the day if you run afoul of other rules, written and unwritten, […]
Chapter 13 Keeps You In Control
You can’t decide between bankruptcy chapters until you really understand how Chapter 13 works to keep you in control. Control of your assets, control of your payment plan, control of who gets paid. You want to be at the helm of your case. Chapter 13 can do that. Chapter 13 protects more than assets Chapter […]
Pay Off Credit Cards At Zero Percent
I’ve got news for you: There’s a government program that lets you pay the balance on your credit card without interest and owe nothing more. Sound like one of those snarky radio ads? This one’s legit. Meet Chapter 13. Credit card interest is the killer Here’s the refrain I hear from clients, over and over. I […]
How Much Is My Chapter 13 Payment
Intrigued by Chapter 13, but worried about how much your Chapter 13 payment might be? OK, let’s walk through what your payment must be by law and what you want that payment to cover to get a fresh start. Part of the power of Chapter 13 is that you write the plan, with the help […]
Protecting Your Co signor When You Can’t Pay
Cosigning a loan links you and your cosignor together for the life of the debt. If you get in financial trouble, your troubles are your co signor’s troubles too. If you can’t pay your debts, the standard bankruptcy discharge will get rid of your debt, but it doesn’t help your co signor. Even while you […]
Sloppy Mortgage Servicers Prey On Borrowers
Given the way they behave, you’d think mortgage servicers actually flew a pirate flag over their operations. They cash your check for the mortgage payment, then who knows what they do with it and what they credit it to. Outside of bankruptcy, screw ups in handling your payments are a breach of the contract […]
7 Keys To Keeping Your House: Chapter 13 After You File
Filing Chapter 13 bankruptcy stops the foreclosure. You’ve protected your home, for the moment. Bankruptcy gets you a sheltered legal environment to address the problems with your mortgage. You heave a sigh of relief. But the fight to keep your house isn’t over, just because there’s a stay. You’ve just gotten through the first round. […]
Chapter 13 Discharges HOA Debt
Condo fees that come due after a Chapter 13 bankruptcy is filed are discharged at the conclusion of the case. In a victory for condo owners, the 9th Circuit Court of Appeals ruled that the more expansive Chapter 13 discharge trumped a bankruptcy statute sticking condo owners with the fees. Or really, this is a […]
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