The Coronavirus Shutdown: What Happens if I Can’t Make My Chapter 13 Plan Payments

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes

  In a chapter 13 plan you are supposed to send in regular plan payments to the bankruptcy trustee.  The Trustee disburses the money to the creditors. Usually this payment comes right out of our paycheck after the plan is confirmed. If you don’t get a paycheck because you were laid off because of COVID19,...

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What Are The Different Types Of Bankruptcy?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 6 minutes

Sometimes when people come into our Waldorf or Lexington Park office they know exactly what type of bankruptcy they want to file. Other times a person just comes in to find out what options they may have. During your initial consultation we may even find that deciding what is the best bankruptcy option is a...

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Buying A Car While In A Chapter 13 Bankruptcy

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes

You have a pending Chapter 13 bankruptcy in Southern Maryland and your car has died or needs a huge repair. You may be surprised that you do have the option of getting a loan to buy a new or used car. What shouldn’t surprise you is that it is a bit of a pain, and it...

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Short Sales & Bankruptcy Advice

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: < 1 minute

Dave Gormley discusses short sales, bankruptcy, taxes and more with Southern California Realtor Connor MacIvor. There are several things that you should watch out for when approaching anyone when wanting to short sale a residence. What type of loan do you have? Was all the money borrowed used on the primary residence? Have you taken out money to...

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Closing Your Chapter 13 Case

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 2 minutes

Hopefully you are reading this because you have made it to the end of your Chapter 13 Plan.  Maybe you just got the Notice of Completion of Plan Payments.  Now it is time to get your discharge and have your case closed. Congratulations.  A Chapter 13 Plan is not an easy thing to complete. Notice...

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My Chapter 13 Plan is Confirmed, What Comes Next?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes

Now your plan is confirmed you still have to complete the plan.  In most cases there are five years of payments.  However, the five years runs from the filing of your case, not when it is confirmed.  So that finish line has gotten closer while we were negotiating with the Trustee over the payments. You...

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The Next Steps In A Chapter 13

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes

Chapter 13 Step 6 – Confirmation Hearing: For Chapter 13 cases only – If you file a Chapter 13 bankruptcy, a Confirmation Hearing will be held.  This is part of the negotiating game to determine if the terms of the repayment plan.  In many cases you never have to attend this hearing. The Trustee will agree to...

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