Total Petitions- Your Bankruptcy Assistant

07/10/2022

12/14/2021

https://www.nytimes.com/2021/12/07/business/pandemic-savings.html

The drop in cash reserves has vast implications for the working class and could dampen consumer spending, a large share of economic activity.

12/01/2021

https://www.washingtonpost.com/business/2021/11/30/cfpb-debt-collector-rules-facebook-instagram/

Federal regulators have given debt collectors the okay to pursue debtors via email, text messages and social media sites.

02/09/2021

https://www.fanniemae.com/here-help-homeowners/you-dont-have-repay-forbearance-amount-all-once-upon-completion-your-forbearance-plan-get-facts?fbclid=IwAR2bP4zaJDnWVAVtsUSIUaBOuej2XQLmQzU4JtNiOgWoZUbrTOTDH6bMKAE

The Google Translate feature is a third-party service that is available for informational purposes only. Fannie Mae is unable to guarantee the accuracy of any translation resulting from the tool and is not responsible for any event or damage that occurs as a result of using the translations generate...

02/02/2021

https://www.inquirer.com/business/biden-plan-cancel-student-loan-debt-bankruptcy-education-college-20210127.html

Out of all the ideas to help student loan borrowers, bankruptcy may be the easiest, but debt cancellation sounds politically expedient.

09/24/2020

https://www.forbes.com/sites/advisor/2020/09/23/after-the-covid-19-deluge-a-bankruptcy-tidal-wave/

As Covid-19 continues to drive the U.S. economy, will personal bankruptcy filings increase? There are at least two schools of thought here in 2020.

06/13/2017

Children's clothing chain Gymboree filed for Chapter 11 bankruptcy protection late Sunday, aiming to slash its debts and remain in business amid crushing pressure on retailers.

06/12/2017

Are you facing losing your car? Do you have “too expensive car” problem?
Here is what you need to know:
Call 228-215-3584 to get the help you deserve.

Bankruptcy and Car Loans

Personal bankruptcy offers a number of options to address this “too expensive car” problem. The easiest choice would be to use the power of bankruptcy to cancel contracts and surrender your vehicle back to the lender. In a Chapter 7, any deficiency balance will be discharged as an unsecured debt, and in a Chapter 13, any deficiency balance will be paid as an unsecured debt, often at pennies on the dollar – if the lender even bothers to file a proof of claim.

Another option would be to use the cram down provision in the Bankruptcy Code to restructure your vehicle installment loan as part of a Chapter 13 bankruptcy. Applicable if your loan originated more than 910 days (about 2 ½ years) prior to filing, a Chapter 13 cram down allows you to modify the interest rate (usually) and to reduce your outstanding principal balance to equal the fair market value of your vehicle.

If you owe substantially more than the value of your vehicle, this cram down can save you thousands of dollars.

Even if you cannot cram down your loan, you can still reduce your monthly payment by including the unpaid balance in your Chapter 13 plan and setting a payment to the vehicle lender that fits your budget. You are not obligated to pay the contract rate to the vehicle lender in a Chapter 13.

Call Tucker Legal Clinic today @228-215-3584 for a FREE consultation.

05/04/2017

Puerto Rico has filed for bankruptcy to deal with its $73 billion debt. It would be the biggest municipal bankruptcy ever in the US.