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Can I keep my house when I file bankruptcy?

December 6th, 2011 Scott Wantland Posted in Bankruptcy, Mortgage 5 Comments »

The short answer is yes you can.  In most cases retaining your home is a matter of making the house payment.           

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Who will know about my bankruptcy?

November 28th, 2011 Scott Wantland Posted in Bankruptcy, Chapter 13, Chapter 7 19 Comments »

It is unlikely that anyone but your creditors will have knowledge that you filed bankruptcy. With that said bankruptcy is a public legal proceeding and anyone who wants to go looking for your information would be able to find it.

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Why to talk to a bankruptcy attorney before foreclosure?

November 22nd, 2011 Scott Wantland Posted in Bankruptcy, Foreclosures 24 Comments »

If you decide to let your house go in a bankruptcy talking to a lawyer early and filing bankruptcy can actually allow you to live in your house for a few more months without having to make a mortgage payment.

Also, talking to a bankruptcy attorney before foreclosure allows you the time to get everything organized and often can help you to avoid penalty fees and other expenses. If your appendix was bothering you, you wouldn’t wait till it ruptured to go to the doctor. So why would you wait to see a bankruptcy attorney. Remember at Wantland Law, PLLC your first consultation is free.

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Why shouldn’t I go to a “cheap” bankruptcy attorney?

November 16th, 2011 Scott Wantland Posted in Bankruptcy, Chapter 13, Chapter 7, Foreclosures 75 Comments »

Plain and simple, you get what you pay for. A lot of the cheap attorneys don’t take to time to properly review your situation or even meet with you prior to court. Often, you won’t even speak with the attorney- just an assistant. At Wantland Law, PLLC we often get called after things have gone wrong. Save yourself the time, money, worry, your valuable assets, and frustration contact us first.

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Burt Reynolds wants to live with you.

August 18th, 2011 Scott Wantland Posted in Bankruptcy, Celebrity Debt, Chapter 13, Foreclosures 5 Comments »

Well, looks like Burt Reynolds is facing foreclosure.  Looks like Burt hasn’t bothered to pay his mortgage since this time last year.  Maybe there’s another Cannonball Run in the works or maybe this is all for old Burt and his multimillion dollar home.

I’ve learned over the past couple of years that “rich and famous” do not always go hand in hand.  I’m not sure why old Burt couldn’t have settled for just a one million home and just paid cash. 

Most folks could save the home with a chapter 13 filing- because of the amount of Burt’s debt he may be eleigible for a chapter 11.  Typically a homeowner has more protections in a chapter 13 than chapter 11.  Sometimes the problems rich people have are actually worse it seems.

Good luck Burt.

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Trucker Could Use a Bankruptcy

July 6th, 2011 Scott Wantland Posted in Bankruptcy No Comments »

Looks like this trucker needs some serious legal help.  While bankruptcy wouldn’t erase any criminal liability, it would certainly fix any civil losses.    Remember how I told you that you can never have enough insurance- well, I meant it.  As we discussed, an usatisfied judgment can result in a suspended drivers license.

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June 6th, 2011 Scott Wantland Posted in Bankruptcy, Chapter 7, Debt 5 Comments »

A discharge releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor. Because a chapter 7 bankruptcy discharge is subject to many exceptions, though, debtors should consult competent legal counsel before filing to discuss the scope of the discharge. Generally individual debtors receive a discharge in more than 95 percent of chapter 7 cases. In most cases, unless a party in interest files a complaint objecting to the discharge or a motion to extend the time to object, the bankruptcy court will issue a discharge order relatively early in the case — generally, 60 to 90 days after the date first set for the meeting of creditors.

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Internet Loans are BAD- part 2

May 16th, 2011 Scott Wantland Posted in Bankruptcy, Chapter 13, Chapter 7, check advance loans 4 Comments »

Since I last wrote about internet check advances, I continue to see just what rotten lenders make these types of loans.

Often times, people who come to me with Internet cash advance loans don’t have a mailing address for the lender. What a nightmare. They often don’t have mailing addresses on their web site. Additionally, when you call, they won’t even tell you where to send mail.

This is not because they are trying to cut down on wasted paper. For proper notice to be given in a chapter 13 or chapter 7 a proper mailing address must be given. For certain legal protections to arise, notice must be given in writing.

This week, I heard a new low. A payday lender was calling a borrower at work (not a new low). I was shocked (new low) to hear them threaten her with JAIL if she did not pay the loan. Besides this being an outright lie, it’s beyond the realm of legally possible.

It’s hard for me to be excited about the neighborhood cash advance store. They charge high fees and higher interest. However, the more time I see the disaster that Internet based loans are, I have to say it’s better to show local.

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When too late isn’t

May 2nd, 2011 Scott Wantland Posted in Bankruptcy, Chapter 13, Chapter 7, Foreclosures, Mortgage, Taxes, Uncategorized No Comments »

Someone today asked me if it was “too late to file bankruptcy” to save a house.

Generally, it’s too late if the foreclosure sale has occurred. If a lawsuit has been filed, it’s not too late. It a sale date has been set, it’s not too late. If a collection agent tells you it’s too late- it isn’t.

There’s reasons to file as soon as possible. Filing a bankruptcy stops the foreclosure process. It halts collection calls and dirty letters. A chapter 13 begins the repayment process.  Property taxes potentially are halted from becoming liens.  The sooner you file the sooner you get peace of mind, make the calls stop, and the frest start stops.

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Student Loan relief in a chapter 13

April 23rd, 2011 Scott Wantland Posted in Bankruptcy, Student Loans 1 Comment »

Every week someone calls to ask me about getting rid of student loans in bankruptcy.  Most of them have heard that bankruptcy can’t help with student loans.  They’re half right.

Student loan debt is generally not dischargeable in bankruptcy.  This means the debt will still be owed at the end of the bankruptcy.  However, bankruptcy can still help with collection and sometimes repayment of student loans.

Rarely would a chapter 7 bankruptcy be helpful in dealing with student loan debt.  The automatic stay would stop collection activity during the time the bankruptcy is pending, but, at the end, the balance would still be owed.  Of course, if you were unable to pay the student loans because of other pressing debts, the bankruptcy may free up some cash.  However, the debt will be untouched by the bankruptcy.

A chapter 13 is used to repay and restructure debt.  Using a chapter 13 a person can put off paying student loans for up to sixty months.  Additionally, a portion of the student loans will usually be repaid.  At the end of the chapter 13, a balance will still be owed.  However, the hope is that at the end of the chapter 13 a person’s financial condition will be greatly improved making you able to repay.

Bankruptcy may not be the perfect answer for dealing with student loan debt but at least it can help.

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The attorneys of Wantland Law in Shepherdsville, Kentucky, advise and represent individuals and families in bankruptcy cases and debtor-creditor negotiations in Bullitt County, Nelson County, Spencer County, Hardin County, Okolona, Jefferson County, Louisville, and such communities as Mount Washington, Brooks, Lebanon Junction, Bardstown, Taylorsville, Elizabethtown, Radcliff and Fort Knox.

The information on this Louisville kentucky Wantland Law / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. THIS IS AN ADVERTISEMENT.

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