Virginia Bankruptcy Law Posts
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Will Filing a Chapter 13 Bankruptcy Stop a Foreclosure on Property I Inherited, but the Mortgage Is Still in the Deceased’s Name?
Sometimes a person will inherit a property where the mortgage payments are behind, and the property is being foreclosed on. In many cases, the new owner will just catch up the mortgage payments or pay off the balance to avoid foreclosure. Sometimes the new owner will...
Will Filing Bankruptcy Impact my Security Clearance?
Almost once a week I receive the question, “Will declaring bankruptcy result in me losing my security clearance?” Typically, the answer to this question is no. In most cases, filing for bankruptcy will help you keep your security clearance. Once you file bankruptcy and discharge your debt, you are far less susceptible to blackmail, bribery, or the desire to steal.
What Happens to My Home Equity after I Convert my Chapter 13 Bankruptcy to Chapter 7?
Occasionally, during a Chapter 13 bankruptcy, one may find that they have a significant life change that causes them to need a modification to their monthly plan payments. While it is possible to alter the plan and keep you in the Chapter 13 bankruptcy, there are...
The Elderly, Bankruptcy & Reverse Mortgages
Are there people that a bankruptcy cannot help? Unfortunately, yes. There are many well deserving people that are beyond the help of the bankruptcy code. There are waiting periods between bankruptcies; so, if you have recently filed, then you may not be able to file...
Fair Debt Collections Practices Act and Bankruptcy
After a debtor files bankruptcy, creditors may file a Proof of Claim (POC) with the bankruptcy court to assert that the debtor owes them money. When filing a Proof of Claim, the creditor must provide certain information and documentation to the bankruptcy court...
When Can a Bankruptcy Judge Hear a Non-Bankruptcy Matter?
Article III of the United States Constitution establishes the U.S. Supreme Court and the lower court system for federal matters. Article III Judges have a lifetime appointment and have the authority to render final decisions on matters arising under the laws of the...
Can a Debtor Appeal an Order Denying Confirmation of His Chapter 13 Plan?
Chapter 13 bankruptcy allows a debtor with a regular income avoid a portion of his debts by making a monthly payment to a Chapter 13 Trustee for a period of years. The debtor will file a chapter 13 plan that proposes how he will pay back his creditors and how those...
Funding Status For a Chapter 7 Conversion
What Happens to Funds Being Held By a Chapter 13 Trustee When the Debtor Files a Voluntary Conversion to Chapter 7? Many Chapter 13 bankruptcies fail to complete, often times because the debtor’s situation changes not allowing him to continue making plan payments....
Removing a Second Lien Mortgage from Bankruptcy
When Can a Debtor Remove or Strip a Second Lien from Their Home? In many cases a debtor will have more than one mortgage lien on their real property. These second mortgages come in the form of second deed-of-trusts, equity lines, and home improvement loans....
Financial Wisdom Part 4: Your Credit Report
By John Lee There thousands of books and articles written about how to be financially successful. Some of these books are written for rich people that already have money, and some of them are written to folks that need to feel good about themselves and what they are...