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Tag Archives: Chapter 7 Bankruptcy
Chapter 13 Bankruptcy Trustee Cannot Compel Turnover of Funds Garnished Pre-Petition
Unlike chapter 7, a chapter 13 trustee does not have the power to control debtor’s assets until plan is confirmed. Then, the trustee is still only able to do so as provided in the terms of the confirmed plan. Until … Continue reading
Losing your Bankruptcy Due to Not Following the Rules
In order to file for bankruptcy, you need to follow all of the federal bankruptcy rules and regulations. Failure to follow the rules can land you in hot water. One couple lost their ability to erase their debts because they … Continue reading
Owner of Macaroni Grill Files for Bankruptcy
The owner of the Italian restaurant Macaroni Grill has filed for bankruptcy with a plan to erase debt and reorganize around its top restaurants. If you have a failing business that is thinking of filing for bankruptcy, contact our law … Continue reading
Undistributed Money Switching from a Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy
While this scenario does not involve many people, when it does apply to you, it is a very important rule. In a Chapter 13 bankruptcy, a person makes monthly payments to the bankruptcy court in order to pay for the … Continue reading
Removing Second Mortgages in Bankruptcy
Chapter 13 bankruptcy allows a debtor to remove a secondary or junior lien when the lien is completely underwater. A lien is completely underwater when the value of the property is eaten up by a superior lien. However, secondary or … Continue reading