Chapter 13

The top 10 reasons to file bankruptcy
Here are some top reasons why people file for bankruptcy, and also a discussion of how filing for Chapter 7 or Chapter 13 Bankruptcy can help.
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Your Co-debtors Get Protection from Chapter 13
One of the more interesting features of Chapter 13 law is something called the "co-debtor stay." Set out at Section 1301(a) of the Bankruptcy Code, the co-debtor stay disallows collection action on consumer debt against co-debtors of the person filing for bankruptcy. A typical scenario - you file Chapter 13 and include a debt to Best Buy for a new television. Your mother co-signed the loan with you. Your Chapter 13 protects your mother from collection efforts for as long as you remain in Chapter 13. (…)

Should I be Concerned if I Receive an "Objection to Confirmation?"
What is an "objection to confirmation" in a Chapter 13 case and should you be concerned about it? As you know, a Chapter 13 bankruptcy functions as a court sanctioned repayment plan. Under the law, you - the debtor - must propose this repayment plan to the court. (…)

Clark and Washington Attorney Wins Confimation Hearing Over Trustee Objection
May a debtor include payments due secured creditors (house payment and car payment) for Chapter 13 means test calculation purposes if the debtor's plan provides for the surrender of the collateral? Attorney Mary Beth Ausbrooks, managing attorney of Clark and Washington's Nashville office recently argued this issue before Judge Marian Harrison in Nashville (Middle District of Tennessee) bankruptcy court. (…)

6th Circuit Decides "Hanging Paragraph" Issue in Favor of Creditors
One of the most controversial topics arising from the BAPCPA changes ot the bankruptcy law has to do with the so-called "hanging paragraph" of Section 1325(a). Stated simply, Section 1325(a) does not clearly address what happens in a Chapter 13 if a debtor surrenders a vehicle back to a secured creditor if the vehicle is worth less than the outstanding claim. (…)

Military Officer Could Lose Career if Financial Troubles are Revealed - What are his Options?
Our office recently received the following question from a reader of our blog:

I am now in a full-time Air Force Reserve, with 27 years total military service time. (…)

As Foreclosure Rates Rise, Beware of Foreclosure Scams
With foreclosure numbers in Tennessee cities on the rise, it should come as no surprise that desperate homeowners are being targeted by scammers. Usually the scammers pitch promises to stop a pending foreclosure using a "secret provision in the law" or an alleged special relationship with mortgage lenders. (…)