Chapter 13 | Law Firm Newswire

Brandon, FL (Law Firm Newswire) September 30, 2015 – A recent U.S. Supreme Court decision is good news for Chapter 13 bankruptcy filers who convert their cases to Chapter 7. Chapter 13 bankruptcy allows debtors with regular income to reorganize their debts and make regular, manageable payments on them under a court-approved plan. However, many such cases are never completed. Bankruptcy attorney O. Reginald Osenton explains why. “Often, the debtor is eventually unable to make the payments,” Osenton said. “Other times, the issue that caused the individual’s financial trouble goes away. In the former case, the debtor’s next step often […]


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Brandon, FL (Law Firm Newswire) September 3, 2015 – In a blow to struggling homeowners, the U.S. Supreme Court prohibited the voiding of underwater second mortgages in Chapter 7 bankruptcy. Previously, homeowners filing Chapter 7 bankruptcy in some states could seek to “strip off” second liens from their homes in cases where a drop in the house’s value had resulted in the second lien having no claim on equity. In Bank of America v. Caulkett, however, the Justices ruled unanimously that Supreme Court precedent required them to bring an end to the practice. Bankruptcy attorney O. Reginald Osenton said the […]


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Des Moines, IA (Law Firm Newswire)June 3, 2013 – People are uncertain as to whether they may rent a house after declaring bankruptcy. They may rent, but require the bankruptcy trustee’s permission. The situation of a debtor possibly needing to rent a home after filing for bankruptcy is more applicable for Chapter 13 bankruptcies. Chapter 13 is a payment plan that allows the debtor to pay back a portion of their debt over a three to five year time frame. While under bankruptcy protection, debtors are allowed a discretionary budget to pay for living expenses. This budget is monitored by […]


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San Francisco, CA (Law Firm Newswire) October 18, 2012 – ConsumerBankruptcyCounseling.info, a successful provider of free credit counseling services in English now offers its services in the Spanish language, fully supported by email and a telephone helpline.Recent years have seen growth in the U.S. population and as of the 2010 census recognition of the significant place now held by people with Hispanic roots: 50.5 million strong, over 16% of this nation of 308.7 million. Since the onslaught of the recession in the fall of 2008, consumers have confronted difficult choices as: household incomes have fallen sharply; residential real estate values […]


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