How Do I Know Whether to File Chapter 13 or 7?
Bankruptcy Law Overview, Chapter 13, Chapter 7, Foreclosure, ModificationsAs a consumer debtor, you will usually have two options when deciding to file bankruptcy; Chapter 13 or 7 under the Bankruptcy Code. The question is which is better?; and which one should you file? The answers to these questions are as unique as your individual circumstances. Under Chapter 7 of the Bankruptcy Code, you are […]
Can I Fund My IRA Before I File For Bankruptcy?
Bankruptcy Law Overview, Chapter 13, Chapter 7, Exemptions, Taxes & BankruptcyLet’s talk about your retirement accounts as they relate to your decision to file for bankruptcy. There are many varieties and vehicles for retirements savings that include pensions, 401k, 403b, IRA and Roth IRA accounts. Perhaps there are others that I am not aware of. As I have said before, DO NOT CASH OUT YOUR […]
Projected Disposable Income in Chapter 13
Chapter 13In determining “projected disposable income” for the purposes of creating a chapter 13 bankruptcy plan, how do we deal with debtors whose incomes have changed? Can we just disregard that huge bonus you received; or what happens when your income goes up, or down during your bankruptcy? How should we deal with that car you […]
