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Bankruptcy Alphabet: B is for Bar…Date

2017-01-20T00:06:00-05:00

  Its not what you think it is, but a bar date is a good thing for a debtor in bankruptcy. Everyone wants some amount of certainty in their life. The bar date gives debtors the certainty they need during the bankruptcy process. If you file a chapter 13, or a chapter 7 with assets, the court will set a bar date for claims from creditors. This means a creditor must file its proof of claim [...]

Bankruptcy Alphabet: B is for Bar…Date2017-01-20T00:06:00-05:00

Bankruptcy Alphabet: A is for Avoidance

2017-01-20T00:06:00-05:00

Avoidance can be a good thing or a bad thing in the bankruptcy alphabet. Lien avoidance is a good thing when we are talking about your second mortgage. In chapter 13, if your first mortgage amount is more than the value of the home, then you may be able to strip your junior mortgage. Everyone refers to it as a lien strip, or stripping a mortgage, but it is really called lien avoidance under the [...]

Bankruptcy Alphabet: A is for Avoidance2017-01-20T00:06:00-05:00