What happens when I can no longer afford my Chapter 13 case?

The national success rate for Chapter 13 cases is approximately 33%. It has also been reported that if a bankruptcy is filed, Chapter 13 is the better way as it helps all parties. The debtors are at least paying something on their debt. Creditors are happy to get at least some of the money owed to them. And in the grand scheme of things, commerce continues to work. However, many times, those debtors who go the route of Chapter 13 experience a change in circumstance that was not expected. … [Read more...]

Old Car Allowance – Atlanta Bankruptcy Lawyers

I was conducting some research on expenses allowed and not allowed with regard to the Chapter 7 means testing provision of the U.S. Bankruptcy code and found some interesting information. In a case out of the Southern District of Florida, In re Koch, 408 B.R. 539 (Bankr. S.D.Fla. 2009), which is a precursor case to Ransom v. FIA Card Services, the court held in part that ownership expenses on vehicles that have no lease or loan payment obligation associated with it will not be allowed. With … [Read more...]