Category Archives: Bankruptcy
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One of the major benefits of filing a Chapter 13 case is the ability to modify (cram-down) a loan on a motor vehicle. Circumstances vary by case, but when a client has purchased a vehicle and has signed a standard “Retail Installment Contract”, generally the interest rate and principal balance can be modified (cram-down) and… Read More »
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Finding a good lawyer is critical to making sure your bankruptcy case is handled properly. You don’t want to choose a lawyer only because he or she has the lowest fees or the prettiest advertisement, only to find out that your bankruptcy petition is ultimately denied by the court. You can find a good bankruptcy… Read More »
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A recent bankruptcy court decision illustrates a common forbearance problem. After missing three consecutive mortgage payments, debtors entered into a Mortgage Forbearance Plan (MFP) with their lender. The plan provided for reduced mortgage payments for six months. The court found that “the parties anticipated that at the end of the six months, the lender would… Read More »