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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

Bankruptcy Exemption Planning: What To Do or What Not To Do

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

I will be discussing some things to do and not to do before filing bankruptcy. Or, it can be considered exemption planning. First thing not to do before filing bankruptcy  - pay friends or relatives money that you owe them. This is called a preference. You cannot choose to pay your friends or relatives back money that is owed to them in preference to all of your other creditors. In the eyes of the bankruptcy [...]

Bankruptcy Exemption Planning: What To Do or What Not To Do2017-01-20T00:06:01-05:00