by Walter Metzen | May 12, 2021 | Lease Assumption Agreements in Bankruptcy, reaffirmation of car note
By Walter Metzen A debt arising from a lease of a vehicle, real estate or other property may be discharged in Chapter 7 or Chapter 13 bankruptcy like any other. Discharging a contract-related debt in bankruptcy does not require much, in fact. In a...
by Walter Metzen | May 5, 2021 | buying a house after bankruptcy
By Walter Metzen It is possible to buy a house after bankruptcy. However, the question remains how long one must wait after a bankruptcy is filed to apply for a mortgage. First, in Michigan, it is always possible to purchase a new home through a private...
by Walter Metzen | Apr 28, 2021 | Bankruptcy means test
By Walter Metzen The bankruptcy Means Test is a mathematical formula designed to determine whether the total household income of a person filing for bankruptcy is above or below a certain amount. That amount is the median average income for a household...
by Walter Metzen | Apr 20, 2021 | disclosing assets in bankruptcy
By Walter Metzen The filing of a Chapter 7 or Chapter 13 bankruptcy has no automatically negative effect upon non-citizens with the need for debt relief. However, in certain circumstances, the information that must be disclosed in a bankruptcy filing can...
by Walter Metzen | Apr 19, 2021 | Property taxes and bankruptcy
By Walter Metzen Whether or not you can discharge your property taxes in bankruptcy depends on whether or not you want to keep your home. First, it is important to note that bankruptcy is a Federal legal proceeding. It operates pursuant to a Federal...
by Walter Metzen | Apr 12, 2021 | Chapter 13 Bankruptcy
By Walter Metzen Introduction: Creditors in Chapter 13 Bankruptcy Chapter 13 bankruptcy is a reorganization bankruptcy and not a liquidation bankruptcy in which debts are discharged in full without payment. In a Chapter 13, your debts are...
by Walter Metzen | Apr 1, 2021 | Chapter 13 Bankruptcy, Chapter 7 Bankruptcy
The term “priority debt” is one that you are likely to hear repeatedly in a Chapter 7 or Chapter 13 bankruptcy proceeding. What does it mean? A priority debt in bankruptcy is one that must be paid by the Chapter 7 or Chapter 13 Trustee prior to...
by Walter Metzen | Mar 26, 2021 | Chapter 13 Bankruptcy
When you file Chapter 13 bankruptcy as a homeowner, the servicer of your secured mortgage obligation will become one of your biggest headaches in the process. This is due to the fees charged to your mortgage account by the servicer for every step they feel...
by Walter Metzen | Mar 18, 2021 | Chapter 13 Bankruptcy
It is permissible for a person filing Chapter 13 bankruptcy to continue to run a business during the bankruptcy process. In fact, it may even be necessary, if that business is the source or a partial source of the funds required to fund the Chapter 13 Plan...
by Walter Metzen | Mar 12, 2021 | Chapter 13 Bankruptcy
The question of how much a person’s monthly Chapter 13 bankruptcy payment plan will be is a question with a short answer and a long answer. The short answer is that, each month in your Chapter 13 proceeding, you will pay to the Chapter 13 Trustee assigned to...
