Category archive for ‘Automatic Stay Protection’ 
Student Loans, Co-signers and Undue Hardship
by Richard Stokan on 7/09/10 | Comments Off Comment(s)
As a general rule, student loans are “non-dischargeable” debt, which means the debt will remain after a Chapter 7 or Chapter 13 bankruptcy. This applies to both the original debtor and any co-signor. If you cosign on a student loan, filing for bankruptcy protection will not eliminate the debt. As with any debt involving a [...]
Garnishments and Bankruptcy
by Richard Stokan on 6/03/10 | Comments Off Comment(s)
What is a garnishment? A garnishment is basically a legal collections tool where a creditor obtains a court order compelling an employer to withhold a portion of an employee’s wages. The amount that can be withheld is capped at 25%, however, the percentage may vary depending on the state issuing the garnishment and the type [...]
How Bankruptcy Can Give You Time To Catch Up On Mortgage Payments
by Moderator on 5/18/10 | 0 Comment(s)
You’ve fallen behind on your mortgage. The bank is demanding payment of the arrearages immediately. You don’t have the money but want to stay in your home. What can you do? First of all this is a common problem. Borrowers who fall behind on their mortgage are often hit with late fees and penalties that makes [...]
Discharge Violations
by Steven Striffler on 3/25/10 | 0 Comment(s)
There is nothing more sacred to a debtor than the discharge of their debts that every debtor receives at the end of their bankruptcy case. Most debtors when they decide to file bankruptcy are resigned to the fact that they cannot pay their debts and what they seek most dearly is to stop the endless harassing phone [...]
Bankruptcy and Co-signers
by Richard Stokan on 2/03/10 | 0 Comment(s)
Before filing for consumer bankruptcy protection a debtor should consider the type of debt that will be affected. If any debt is secured by a co-signer, filing for bankruptcy could place the co-signer in the position of being compelled to cover the debt. Regardless of whether a debtor is seeking a Chapter 7 discharge or [...]
Use Federal Law To Stop Creditor Harassment In Its Tracks
by Moderator on 12/22/09 | 2 Comment(s)
As a bankruptcy attorney, I routinely meet with clients concerned about creditor harrasment. They’re getting called at work, they’re getting called at home, their relatives are even getting phone calls. Needless to say, by the time they get to my office, they’re fed up. As we discuss potential solutions, two important topics invariably arise: (1) [...]
Is my lender more likely to modify my mortgage if I file for chapter 13 bankruptcy?
by Moderator on 11/16/09 | 1 Comment(s)
Consumers are often surprised to learn that they can modify some secured debts, such as car loans in a chapter 13 bankruptcy. Unfortunately, legislation that would have allowed for debtors to modify first mortgages on their primary residences died this year in Congress leaving homeowners searching for answers. Even lenders that have received bailout funds are still [...]
How Can Bankruptcy Help Me Keep My Home, Stop Foreclosure and Modify my Mortgage?
by Lori Patton on 9/16/09 | 2 Comment(s)
So many homes in Florida are now worth less than their mortgages. Most folks that come to see me have a first and a second mortgage, or a mortgage and a Home Equity Line of Credit (HELOC) that together exceed the value of their home, preventing them from refinancing and choking their household budget. They [...]
Legal Actions After Bankruptcy
by Richard O'Connor on 8/17/09 | 0 Comment(s)
Upon filing a Bankruptcy Petition, a stay of proceedings is entered by the Bankruptcy Court protecting property of the Estate from creditors. Pursuant to 11 USC 362(c)(1), that stay remains in effect until the property is no longer property of the estate. Property is longer part of an estate when the case is closed or [...]
Child Support is Not Dischargeable in Bankruptcy
by Jeff Herrick on 8/12/09 | 1 Comment(s)
Chapter 7 bankruptcy can get rid of credit card debt, old medical bills, even certain back taxes. Child support is another matter entirely. The Bankruptcy Code excludes certain debts from discharge as a matter of public policy. For example, debts incurred while driving drunk are not eligible for discharge. Similarly, an individual that is responsible [...]
