Most chapter 13 debtors do not have to pay all of their debts in full through their bankruptcy. But each person’s situation is different. To determine how much you would have to pay depends on several factors, like the types of debts you have and how much money you make. The Minimum Amount Chapter 13…
Most people, including attorneys, do not fully grasp the power of a Chapter 13 bankruptcy. It is quite amazing how so many problems can be handled with such bankruptcy. Nothing else even comes close; not a Chapter 7 bankruptcy nor a Chapter 11 proceeding. The reason a Chapter 13 bankruptcy is so powerful lies in…
For better or worse, Nebraska allows mortgage companies, banks, and other lien holders to foreclose on real property without a court proceeding. The authority that provides for non-judicial “mortgage” loans is found at Neb. Rev. St. § 76-1018 et seq. and is commonly referred to as the Nebraska Trust Deeds Act. This Act allows lenders…
Bankruptcy is affordable and offers lasting protection if carefully planned. It’s the classic Chicken and the Egg problem. I need to file for bankruptcy but I can’t afford to file. It’s just too expensive. I need a cheap and affordable option. Chapter 13 is sometimes the best choice Most people are familiar with the concept…
What is Business Bankruptcy? Business bankruptcy is a topic frequently misunderstood. Sometimes, a corporate bankruptcy filing is what is meant. In other words, the corporation itself files bankruptcy, not the individuals that own the corporation. Corporations may generally file a Chapter 7 bankruptcy (to completely go out of business) or a Chapter 11 bankruptcy (to…
Do you know what the difference is between Chapter 7, Chapter 11, Chapter 13, and all other types of bankruptcy? Unless you are a legal expert, probably not. If you are facing the possibility of filing for bankruptcy, however, it is imperative that you understand the different classifications so you file for the correct chapter….
Schultz versus Schultz. Mr. and Mrs. Shultz were going through a divorce in the District Court of Buffalo County, Nebraska. On August 30, 2011, the court enters an order that provides: To equalize the division of the property of the parties and allocation of the indebtedness to be paid, the court finds that a judgment…
In the beginning, Omaha bankruptcy attorneys used typewriters Not so many years ago, when George H.W. Bush was still president, most bankruptcy attorneys in Omaha used typewriters and a lot of carbon paper to prepare bankruptcy petitions. The year was 1989 when I prepared my first bankruptcy petition. I remember it clearly because I had…
Yes, it’s true. A Chapter 13 bankruptcy will STOP A FORECLOSURE SALE. Chapter 13 bankruptcy is the Swiss army knife of the bankruptcy world. Although it seems kind of weird to get excited about the power of a Chapter 13 bankruptcy, when I started my career as an Omaha bankruptcy attorney in 1989, I was…