You may have seen or heard commercials on the TV or radio touting debt consolidation through one of many for profit companies as a desirable alternative to filing for bankruptcy. However, what these companies will not tell you, is that…
Category: Chapter 13
Stopping Foreclosure with Bankruptcy
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If you fall behind on your mortgage payments, and the lender has accelerated the loan and begun foreclosure proceedings, a Chapter 13 bankruptcy is often the only realistic way to save your home from foreclosure. Unless you can come up…
Chart of Time Between Bankruptcy Cases
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If you have filed a bankruptcy in the past and want to file again and get a discharge, what are the waiting periods that apply? This simple chart will tell you based on bankruptcy type. * Time between bankruptcy cases…
Bankruptcy: The Great Financial Mercy
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This is going to be a philosophical post about bankruptcy. If you’re looking for answers about anything substantive, you might try here, but what I write below is something that I have been thinking about recently. What are we to…
The IRS and Plan-Busting Tax Claims
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Unlike other creditors, taxing authorities like the IRS and the Massachusetts Department of Revenue can file proofs of claim in Chapter 13 bankruptcy cases for post-petition taxes. This right comes from Section 1305 of the Bankruptcy Code, and it usually…
How Long Does a Bankruptcy Case Last?
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Understandably, bankruptcy is something people like to put behind them. That’s the whole concept: a court proceeding and a fresh start. The two types of bankruptcy individuals file, Chapter 7 and Chapter 13, have different timelines. The timeline of a…
Can a Second Mortgage Foreclose on my Home?
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In theory, the answer is, yes. A junior mortgage, such as a HELOC or other second or third mortgage, can foreclose in Massachusetts. There are additional procedures for the foreclosure of junior (second, third, etc.) mortgages that are different than…