Posted on Friday, 1st October 2010 by Toby Duncan
A Chapter 13 debtor can strip a second mortgage from his primary residency if the value of his home is worth less than the first mortgage so that there is no equity securing the second. I received a call from one of my Chapter 13 clients who had filed Chapter 13 bankruptcy in 2007. The [...]
Tags: Chapter, Chapter 13, Chapter 13 Debtor, Second Mortgage
No Comments »
Posted on Wednesday, 29th September 2010 by Eden Fryett
The Catholic Diocese of Wilmington, Delaware, has announced the plan that it will follow to reorganize after emerging from bankruptcy. The plan includes details on how the troubled diocese will face more than 100 civil lawsuits in the near future. The lawsuits are in connection to claims of abuse by priests. These accusations and the [...]
Tags: Catholic Diocese, Plan
No Comments »
Posted on Wednesday, 29th September 2010 by Eden Fryett
The McAlpine Group, one of the busiest residential developers in Charlotte, North Carolina, is facing a group of investors and creditors that want the company to file for Chapter 7 bankruptcy and liquidate. The McAlpine Group has already cut some of its staff, sold its company office building and limited employee hours. Nonetheless, creditors are [...]
Tags: Creditors, North Carolina
No Comments »
Posted on Monday, 27th September 2010 by Toby Duncan
The general rule is that any property a debtor acquires after he files his bankruptcy petition is not part of his bankruptcy estate. The biggest exception to the general rule is money received as part of an inheritance or life insurance policy. All property the debtor receives by “bequest, devise, or inheritance:” or as a [...]
Tags: Bankruptcy Estate, Estate
No Comments »
Posted on Monday, 27th September 2010 by Toby Duncan
By: Jeena Cho, San Francisco Bankruptcy Attorney You can be debt free in 90 days. The catch? You have to file for Chapter 7 bankruptcy. Here are the steps to shedding your debts, once and for all. Filing for bankruptcy involves the following steps.* Meet with a bankruptcy attorney. (This step is the most difficult.) Make the [...]
Tags: 90 Days, Debt Free, Free
No Comments »