Under federal bankruptcy law, once a person files a case, creditors are “stayed” from taking any action to collect on their debt. As long as your Chapter 13 plan is confirmed by the Bankruptcy Court and you make both your Chapter 13 plan payments and your current mortgage payments, the mortgage holder should not be permitted to take any action to foreclose on your home.
Bankruptcy Questions
Answers to Frequently Asked Bankruptcy Questions
Do I List a Recently Completed ‘Short Sale’ of My Home in My Bankruptcy Filing?
Yes! Pro se filers must make the Bankruptcy Court aware of all assets and asset transfers or sales.
Does a Person Facing Foreclosure Help Their Credit Score by Filing Bankruptcy Instead?
Credit scores are not law-related in any way, and as such Standard Legal cannot offer a response.
Is My IRA Exempt from a Chapter 7 Bankruptcy Filing?
Whether or not you can “keep” your IRA after a Chapter 7 Bankruptcy filing depends upon which state you live in and whether or not your state offers an exemption for IRA accounts.
How Difficult is the Bankruptcy Filing Process?
While the process of filing for personal Chapter 7 or Chapter 13 Bankruptcy is by no means “quick and simple”, there is most definitely a clear set of steps that must be followed to make it through the process.
Are the Chapter 7 and Chapter 13 Bankruptcy Forms Up-to-Date?
Absolutely. Not only are the U.S. Bankruptcy Court forms kept up-to-date, but the forms of the 90+ District Bankruptcy Courts are updated upon notice as well.
Does the Bankruptcy Software Include a Merged Letter to All Creditors?
Standard Legal’s Bankruptcy software permits the debtor to prepare a list of creditors
Are Standard Legal’s Bankruptcy Court Forms Fillable and Calculating?
Users can type directly into each field on every Standard Legal U.S. Bankruptcy Court form using just about any PC or Mac operating system available. Standard Legal’s Bankruptcy forms are provided