Chapter 13 bankruptcies

Call: 888-297-6203 Once you file for bankruptcy (whether Chapter 7 or chapter 13) a creditor’s meeting takes place. During the meeting, also known as 341 hearing, bankruptcy trustee examines you under oath regarding your bankruptcy papers. You are required to bring essential documents related to your bankruptcy petition and schedules. During the 341 meeting, the trustee is responsible for verifying your identity as well as the information provided by you in the bankruptcy papers. Thus, you are required to bring documents that prove your identity as well as the financial information provided by you in the bankruptcy petition. [...]

Call: 888-297-6203 Overhauling of bankruptcy laws in 2005 brought the means test in focus. However, if you are filing for bankruptcy under chapter 13, the means test plays no role as it is used to filter people for chapter 7 eligibility. Chapter 13 bankruptcy also involves certain eligibility criteria like the income test to determine the duration of your chapter 13 repayment plan. Chapter 7 bankruptcy means test A means test is used to find out whether you have enough income to repay some of your unsecured debts through a chapter 13 repayment plan. According to bankruptcy lawyers [...]

Call: 888-297-6203 If you wish to protect your home when you file for bankruptcy, you need the state’s homestead exemption to protect your equity in the home. If the homestead exemption covers the equity on your home and you are not behind on your mortgage payments, you can protect your home. However, if either of these requirements is not met, then according to Los Angeles based law firm (https://www.recoverylawgroup.com/bankruptcy/) lawyers, you might end up losing your home. Homestead exemption working in chapter 7 bankruptcy Any property that cannot be protected by exemptions is deemed non-exempt property and is [...]