Tag archive for ‘bankruptcy reform’
Why Chapter 13 Bankruptcy Has Your Second Mortgage Lender Feeling “Undersecured”
by Moderator on 12/23/09 | 2 Comment(s)
The current state of the law allows second and third mortgages to be modified in chapter 13 plans when the borrower is already underwater on a first mortgage.
The aftermath of the housing crisis has left Americans owing more than their homes are worth……often much more. With millions of American homes underwater and banks unwilling Read more>>
Household Size and the Means Test
by Richard O'Connor on 11/12/09 | 2 Comment(s)
The “Means Test” was implemented in 2005 as a way of preventing consumers with the ability to pay back their debts from filing for chapter 7 bankruptcy. Determining a household size for purposes of the Means Test can be simple or complicated depending on the family. The proper method for determining household size is an Read more>>
The Bankruptcy Laws were changed, so now I have to pay back my debts, right?
by John C. Colwell on 5/17/09 | 0 Comment(s)
No. While it is true that the Bankruptcy laws were changed significantly in October, 2005, the benefits of Ch. 7 ‘straight’ bankruptcy , and that of Ch. 13 ‘repayment Plan’ are both very much available. It is also true that the banking lobby spent literally millions of dollars to obtain these Read more>>
