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The Florida Bankruptcy Law Blog: How To Modify Bankruptcy Plan ...

by Jonathan Alper

In my duty we learn something new every week. One of our Chapter 13 bankruptcy clients was paying a confirmed Chapter 13 blueprint. The envisage included payments of the debtor’s car sublet out. Last month, the debtor called us to interpret that his car charter out was over the end of April, he wanted to tender the car in, and asked if he could buy an low-cost replacement mechanism.

The vague standard is that a Chapter 13 debtor cannot bring upon any new debts during a Chapter 13 propose without Trustee acceptance. We explained this debtor’s site, and the Trustee told the Debtor he could buy a new car as hunger as the car allowance payments were interchangeable to or less than the contemporary contract payments so that the unsecured creditors would gross no less rhino in the Chapter 13 sketch. The debtor bought the new car.

We asked the Chapter 13 Trustee work what we needed to do with the Chapter 13 organize to show the new car payment.. They told us to place in order a proposition to approve a modified programme with new car payment amount  being made through the modified programme. We precooked a modified layout, the debtor signed it, and we filed it with the bankruptcy court. Today, the same Chapter 13 trustee area told us that upon further look over they had provided some false trail.

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Florida Bankruptcy Laws - Are You Safe

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Florida Bankruptcy?

Dec 16, 2007 by Shark | Posted in Personal Finance

I have a second mortgage on a primary residence of someone that is declaring bankruptcy. What happens to my mortgage when the file the bankruptcy?? The house is also in forclosure by the third mortgage holder.

OK, I am not a bencher, but I have some experience with these things.

First the BK. They look at the first mortgage and what is owed. If the amount owed, on the first, is greater than the value of the house, your 2nd is wiped out. This