While filing for Divorce during the process of a Chapter 13 Bankruptcy could change your financial situation, the divorce is but one factor among many that should be considered as a part of the continuing bankruptcy action.
Bankruptcy Questions
Answers to Frequently Asked Bankruptcy Questions
Can a Second Mortgage Be Discarded in Personal Bankruptcy?
If a piece of real estate has more than one mortgage attached and the owner is in the process of filing personal bankruptcy, how the mortgages and property will be treated depends upon the type of bankruptcy filing being created and the intent of the owner with regards to staying in or walking away from the property.
Does Standard Legal’s Bankruptcy Package Contain a List of Maximimum Expenses That Can Be Claimed in a Filing?
There is no such thing as a ‘list of maximum allowable expenses’ in any documentation provided by Standard Legal — or the Court, for that matter — for a personal bankruptcy filing.
What is the Difference Between Priority and Non-Priority Unsecured Debt?
Priority vs. Non-priority is not an issue as to the amount of a debt or claim, but rather an issue related to the type of claim or debt involved.
Does Standard Legal’s Bankruptcy Software Allow Me to Answer Some Questions and Have the Forms Automatically Generated?
Standard Legal’s Bankruptcy forms are not “generated” all at once after some basic questions are answered — no company could offer such a product for a price of $49.95, as the constant changes in programming, legal requirements and form content could never be managed at that price.
If the Deed Holder for the Land Contract Home I Am Purchasing Files Corporate Bankruptcy, Might I Lose the Home?
Financial issues affecting a deed holder and/or his or her personal legal situation is the primary drawback to purchasing real estate using a Land Contract. But in nearly every situation (except fraud!), the law sides with the person who is making payments on the land contract property.
If My Financial Situation Worsens, Can I Convert My Chapter 13 Bankruptcy to Chapter 7?
A debtor in a Chapter 13 bankruptcy plan has the right to convert his or her bankruptcy case to a Chapter 7 case. But the debtor needs to qualify for the Chapter 7 treatment (i.e. the debtor must meet the “means test” threshold and his or her disposable income must be such that the Chapter 7 case is proper).
What Should I Do If I Cannot Provide My Tax Returns to the Trustee Prior to the 341 Meeting?
In most cases, a 341 meeting will not take place without the filer’s tax returns being provided to the Bankruptcy Trustee. But there are steps you can take to rectify the situation.
How Do I Find the Consumer Classes Required for a Bankruptcy Filing?
Within Standard Legal’s Bankruptcy legal forms software, links are provided to the REQUIRED CREDIT COUNSELING and the DEBTOR EDUCATION PROGRAMS, along with information on all of the requirements and the Bankruptcy Court’s recommendations related to these programs.
Are Financial Judgments from Arbitration Discharged in Bankruptcy?
For the purposes of bankruptcy, judgments obtained through arbitration are treated the same as judgments obtained through the more traditional court process.