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Why Bankruptcy Isn’t as Scary as It Sounds

Many people today are going through more profound financial strain than ever before. This has become challenging, which could make it impossible for you to meet all of your financial obligations. The term Bankruptcy is a scary word for most people. It is automatically associated with business closures, financial problems, and tarnished credit. At Butcher Law Office,…

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Chapter 13 Bankruptcy Versus Chapter 7

Bankruptcy Attorney

Bankruptcy Individuals have two main options for bankruptcy: Chapter 7 and Chapter 13. These are vastly different in the way that they manage your debts. They also have different credit penalties and are well-suited to handling specific types of debt. In this article, we’ll take a look at some of the main differences between Chapter…

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Bankruptcy Hearing – What If I Cannot Attend on the Date the Hearing is Set For?

Every time a bankruptcy is filed, a corresponding bankruptcy hearing is set.  This hearing is commonly called the “Meeting of Creditors” hearing, or the 341(a) hearing (which is the section of the bankruptcy code that establishes this mandatory hearing requirement).  At this hearing, a bankruptcy trustee will ask a series of questions (as described in…

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Bankruptcy Filing Fees Set to Increase

The Judicial Conference has announced that filing fees for bankruptcy will increase.  This increase will affect all new bankruptcy cases filed on and after June 1, 2014.  Chapter 7 bankruptcy and Chapter 13 bankruptcy filing fees will increase by $29 each. FEE INCREASE BREAKDOWN The Chapter 7 bankruptcy filing fee will increase from $306 to…

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Wage Orders & Chapter 13 Bankruptcy

A chapter 13 bankruptcy is a reorganization bankruptcy, lasting usually between 3 and 5 years. Each month of the bankruptcy, a payment must be made by the debtor for the benefit of the debtor’s creditors.  This post discusses the logistics of these monthly chapter 13 bankruptcy payments. To make these payments, the chapter 13 trustee…

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How Can Bankruptcy Stop My Foreclosure?

Bankruptcy is an extremely useful tool when encountering a foreclosure on real property.  As part of my practice, I do foreclosure defense.  In many cases, bankruptcy is a fall-back option should my clients be unable to obtain a timely mortgage modification.  Sometimes we choose bankruptcy first to stop a foreclosure, rather than alternative options that…

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Can I Take on New Credit While in a Chapter 13 Bankruptcy?

The Order Confirming Plan in a Chapter 13 Bankruptcy contains tight restrictions regarding obtaining new credit (for example, credit cards, car loans, etc.) while in a Chapter 13 Bankruptcy.  This post details these credit restrictions and when it is potentially allowable to obtain credit while you are in a Chapter 13 Bankruptcy. Specifically, the Order…

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What is the Chapter 13 Bankruptcy Plan?

For every chapter 13 case that is filed, a chapter 13 plan must be submitted to the court and to your creditors.  The chapter 13 plan is probably the most crucial document of your chapter 13 bankruptcy.  This article details what the chapter 13 plan is and why it is so important. The chapter 13…

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Disecting a Credit Report for Bankruptcy

I have previously written an article on obtaining free credit reports each year from Annual Credit Report.  This present post goes into detail on how to read a credit report once it is obtained, and how the credit report is used for constructing a chapter 7 bankruptcy or a chapter 13 bankruptcy. Under Federal Law, the…

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Will People Find Out that I Filed Bankruptcy?

A common question I receive is: “Will people find out if I file bankruptcy?”  This post details who will find out about your bankruptcy, and who will probably never find out about your bankruptcy (unless you first disclose this fact to them). A bankruptcy filing is a public filing; it becomes part of the public…

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