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What
can I keep?:
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 I
want to keep my house and I am behind on my house payments, what options
do I have? Chapter 13 bankruptcy offers you the chance to spread your back house payments over a 60 month period to allow you to catch up gradually. For example if your house payment is $1,000.00 per month and you are 6 months behind, you can pay the $6,000.00 you are behind by paying $100.00 extra per month for 60 months. The example has been oversimplified to explain the concept. Your Attorney will be better able to explain how this works in your situation. The important thing is that the Bank must stop any action to take your house and allow you to make these gradual payments to keep your house. Back Can I keep my retirement plan? Usually, Yes. In most cases your attorney will analyze your retirement plan and determine if it is "exempt" so that you can keep it. The United States Supreme Court has stated that if your retirement plan is ERISA approved, then you may keep it. That is, the retirement plan contains a trust "anti-alienation" provision making it impossible to transfer or withdraw the funds prematurely, it is automatically exempt. Obviously, exempting retirement funds is very tricky and requires the expertise of an experienced Attorney who specializes in Bankruptcy Law only. Back They just took my bank account, what can I do? If you file Chapter 13 Bankruptcy within 10 days, the Attorney can get the Bank to put the money back into your account that the bank took. Back |
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WE CAN HELP!
If you're sick with worry over your mounting debts, the DEBT DOCTORS will prescribe a cure... Payment Plan available - $194 to start. Get a Fresh Healthy Start Today! |
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| The Debt Doctors Rodney M. Kleman, Attorney at Law Over 30 years experience |
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| Monterey 831-649-0200 400 Camino El Estero Monterey, CA 93940 |
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| ©2003 Rodney M. Kleman Law Offices | ||
