A Chapter 13 bankruptcy is one where the debtor proposes a plan of repayment of their debts. If the Court approves the plan, the debtor makes a monthly payment to the Chapter 13 Trustee, and the Trustee sends payments to the lenders. The debtor does not have to keep track
Debts are classified as either secured or unsecured. Secured debts are debts that are tied to a piece of property. Common types of secured loans include mortgages and auto loans. When you take out these types of loans you put up your house as security that the mortgage will be
A chapter 13 bankruptcy case is a whole different animal than a chapter 7 case. A chapter 7 case allows you to liquidate your debts and eliminate the need to repay most, if not all of your unsecured debt. But in a chapter 13 case you are required to pay
Clients frequently ask that question of Dsouza and Strachan Lawgroup. However, the answer depends upon many factors, and each individual’s legal situation is different; as such, we review the facts on a case-by-case basis.
A bankruptcy filed too early could result in the loss of property, which otherwise might have been retained. A