Student Loans Can Be Paid Directly

Student Loans Can Be Paid Directly Student loans can be paid directly, outside of bankruptcy. Case Name: In re Abaunza, Case No. 10-37575-LMI (Bankr. S.D. Fla. 2011). Issue: i) Whether the discretionary income that an above-median debtor realizes over and above the projected disposable income calculated by the means test should increase the debtor’s payment […]

Repayment criteria in Chapter 13 Bankrupty

Repayment Criteria in Chapter 13 Bankruptcy Repayment criteria comes into play when the amount debtor is expected to pay changes throughout your repayment period. Bankruptcy law assumes a reasonable lifestyle, not the debtor’s actual lifestyle. Most people must live frugally under a Chapter 13 plan. Debtors with income that is over the median income must […]

Relief from Stay in Bankruptcy

Relief from Stay in Bankruptcy Relief from Stay in bankruptcy is an important subject. When a debtor files for bankruptcy, an automatic stay goes into effect prohibiting creditors from taking any action of any kind to collect a debt. It stops all lawsuits including foreclosures and evictions. It’s against federal law for a creditor to […]

Miscellaneous and Early Payoff

Miscellaneuos and Early Payoff A request for an early payoff can be tricky. The amount you’re expected to pay can change throughout your repayment period. For instance, if your income increases but your expenses stay the same, your disposable income—and your plan payment—will increase. You have an obligation to report any increase in income to […]

Monthly plan payment in Chapter 13 Bankruptcy

Monthly plan payment in Chapter 13 Bankruptcy In Chapter 13, including trustee’s fee of 10% and beginning month, day, year, Debtors to pay to the trustee for a period of 36-60 months normally. In the event the trustee does not collect the full 10%, any portion not collected will be paid to creditors pro-rata under […]

What’s Next for DACA and the Dream Act?

What’s Next for DACA and the DREAM Act? An executive order that provides relief for eligible illegal immigrants could expire when President Barack Obama leaves office in 2016. As of right now, nobody can guess who will take over the Oval Office or if they’ll support Obama’s stance on the issue, so what should immigrants […]

How Soon After Bankruptcy Can I Buy a Home?

How Does Bankruptcy Affect My Credit Score? Just because you’ve filed for bankruptcy doesn’t mean your chances of owning a house are forever in doubt. If you are otherwise able to become credit-worthy in the future, filing for chapter 7, 11, or 13 will not create a permanent roadblock for you in your home-buying ventures. […]

How Does Bankruptcy Affect my Credit Score?

How Does Bankruptcy Affect My Credit Score? Many considerations go into play when one considers bankruptcy as an option for getting out from under the oppressive weight of debt. One of the biggest considerations is how it affects credit scores, because your score has never been more important than it is today. Credit scores can […]

Don’t Risk Foreclosure: Seek out Assitance on a Short Sale

Don’t Risk Foreclosure: Seek Out Assistance on a Short Sale If you’re reading this, there is a chance that you’re frustrated and perhaps frightened by the fact that you are struggling financially and could lose your home to foreclosure. The fear is not unfounded – one in every 662 Florida homes is foreclosed upon every […]

How Long Does Bankruptcy Take From Begnnining to End?

How Long Does Bankruptcy Take from Beginning to End? The amount of time a bankruptcy case takes from beginning to end is dependent on which chapter of bankruptcy you’ve filed for, and your unique circumstances that can either hasten or delay proceedings. Generally, Chapter 7 bankruptcy takes less time than Chapter 13 bankruptcies, which can […]