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chapter 13 bankruptcy Tag

Chapter 13 Bankruptcy – Is It Worth The Trouble?

Potential Chapter 13 bankruptcy clients frequently tell me about some horror story about a friend who filed Chapter 13 and everything went wrong.For many people, Chapter 13 is a great tool for financial restructuring.  For others, it is not the right solution.  Some people need to file Chapter 7 instead.  In this article, I will go over some pros and cons of Chapter 13 bankruptcy The foreclosure is stopped! Pro:  Chapter 13 stops the foreclosure of your home.  In a chapter 13, we take the past due payments and spread them out over the life of your plan.  We don't need the...

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Chapter 13 Bankruptcy and Insurance Claims In Georgia

Anyone who has an active Chapter 13 bankruptcy must understand that any distribution of insurance proceeds in Georgia must be approved by the Bankruptcy Court.  In April 2011, Northwest Georgia was ravaged by tornadoes.  Many people in Ringgold, Rome, Calhoun and Cave Spring had serious damage to their houses.  Some people lost their home altogether.If your house was damaged and you intend on filing a claim with your insurance company, the first step is to speak with the insurance adjuster.  They will come to your house and give you an estimate as to how much it will cost to fix...

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Chapter 13 Bankruptcy and Loan Modifications of a Mortgage

"Can you file Chapter 13 bankruptcy and still obtain a loan modification of your mortgage?"I've been fielding this question quite a bit lately. Just the other day, I was speaking with a client in my Dalton office about this topic.The answer is yes. You can obtain a loan modification of your mortgage while you are in an active Chapter 13 bankruptcy. However, you must obtain court permission to complete the process.While you are in an active Chapter 13 bankruptcy, you cannot incur new debt without permission from the Bankruptcy Court.  Loan modifications of a mortgage must also...

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