Category Archives: Chapter 13
Lien Stripping of Second Mortgages in Chapter 13
One of the main reasons consumers file Chapter 13 bankruptcy is to save their homes from foreclosure. With Chapter 13, also known as a wage earner’s plan, the debtor may be able to keep the home by paying off mortgage arrearages over a period of years. However, a homeowner may have more than one loan […]
Refinancing Your Mortgage During a Chapter 13 Bankruptcy
It is possible to refinance a home loan while in Chapter 13 bankruptcy, though there are hurdles that make the process more difficult. The eligibility requirements are fairly strict. The debtor must get pre-approval from the bankruptcy court. Refinancing under Chapter 13 also takes longer and requires additional paperwork. However, the result can be worth […]
Keys to a Successful Chapter 13 Reorganization
In a Chapter 13 bankruptcy — also known as a wage earner’s plan — a portion of the debtor’s outstanding unsecured debts are paid over a period of three to five years, with the remainder then being discharged. Chapter 13 is often an attractive option for debtors with steady incomes because it allows them to […]
What Determines the Length of Your Chapter 13 Plan?
A Chapter 13 bankruptcy, otherwise known as a wage earner’s plan, allows you to discharge your debts by repaying a portion of them over time and on more favorable terms. When you have completed the plan, the court will eliminate most or all of your remaining unsecured debts. Chapter 13 repayment plans last either three […]
