Chapter 13 Bankruptcy

Role of Bankruptcy in stopping a foreclosure Filing for bankruptcy is a sure shot way to stop your house from foreclosure. Not only will it stop the immediate sale of your abode, but also help you to catch up on your due payments along with managing your other debts quite efficiently. An automatic stay will be triggered as soon as you file for Chapter 7 or a Chapter 13 bankruptcy. This will prevent the creditors from practicing various collection activities like repossession, eviction, court case, collection calls, and even foreclosure. However, this may not be true in few [...]

Getting the claim of a Tax Refund is one of the most crucial aspects of filing for bankruptcy. It is quite a valuable asset, both to the filer as well as the bankruptcy creditor. And both the parties want to try to get the maximum claim portion out of it. To increase your chances of getting the maximum portion of the claim, it is important that you hire a professional attorney with experience in this field. As, multiple factors depend on who gets the maximum portions like – the Chapter under which you file for bankruptcy, when you [...]

Filing for bankruptcy puts everything you own in your bankruptcy estate. This includes your property as well as tax refunds. In case you have an Earned Income Credit (EIC), the refund can be significant and might be lost in the bankruptcy process. According to Dallas based law firm, the bankruptcy trustee might take your EIC depending on the bankruptcy chapter you filed and bankruptcy exemptions you chose. What is EIC? Tax is cut from the paycheck every month. Sometimes the tax is more than what you owe, and you get a tax refund. It is essentially a repayment [...]