One of the big bankruptcy stories of 2013 was that of the city of Detroit. The bankruptcy petition was approved by federal Judge Steven Rhodes on December 3. Now the city’s extensive art work is being appraised as part of a valuation of assets. The artwork is currently being appraised by Christie’s of New York…. Read More »
Posts Categorized: Chapter 13
Bank of America close to settlement with DOJ
Just when it seemed like all the news from the financial crisis of 2008 was finished, more news is released. The Department of Justice is currently negotiating with Bank of America over mortgage backed securities. These securities are thought to be directly linked to the nation’s financial collapse. Like other financial agencies before them, Bank… Read More »
How a Chapter 13 bankruptcy can work for you
When individuals are having financial problems, it can seem as though there is no solution to the problem. However, Chapter 13 bankruptcy is a solution that can answer the problem. For some, bankruptcy means that all personal assets are sold to pay the debts. This is not the case with a Chapter 13 bankruptcy. With… Read More »
How does the discharge of debts work in Chapter 13?
There are several different types of bankruptcy that a consumer can use to get debt relief. One such type is Chapter 13 bankruptcy. This is a kind of debt repayment plan available to consumers with less than $385,175 in unsecured debts and less than $1,149,525 in secured debts. Once a debtor completes all of the… Read More »
How final must finality be? Pt.2
Dismissal of a Chapter 13 bankruptcy can have very damaging consequences for a debtor. The automatic stay, which protects a debtor from all collection activity while the bankruptcy is active, is terminated by the dismissal of the case. This leaves a debtor open to any collection activity permissible under state law, including repossession and foreclosure…. Read More »
Chapter 13 bankruptcy may help debtors obtain a fresh start
Facing insurmountable debt is a daily struggle for many in Kansas City. Financial worries keep them up at night wondering what can be done, how to stop the phone calls from harassing creditors or even wondering if they will face foreclosure. Fortunately, help is available. Debtors can choose to file for Chapter 13 bankruptcy, which… Read More »
What is the Chapter 13 bankruptcy hardship discharge?
Chapter 13 bankruptcy is a great tool for those in Kansas City who need assistance in paying off their debts. In some circumstances, it may allow the debtor to keep their home while still tackling outstanding debts. In a Chapter 13 bankruptcy plan, the debtor and the court will establish a payment plan, which the… Read More »