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Here are a few pointers to help you at the start of the Chapter 13 bankruptcy process.

1. Be Patient

When I said bankruptcy “process,” I really meant it’s a process.  Filing for bankruptcy relief is comparable to filing your taxes.

When discussing bankruptcy, you will often hear references to the “trustee of the case.”  The trustee is a court-appointed individual that oversees your bankruptcy case.

While many debtors have an initial fear of the trustee, it is generally unwarranted.  A trustee is not attempting to sabotage your bankruptcy case.  In all likelihood, the trustee would prefer for your case to succeed just as much as you, although your opinions of the most beneficial outcome may differ somewhat.

If you are like me, you love watching HGTV’s “House Hunters”.  It’s fun to see different houses and walk into “the one” and feel at home.  Most Americans dream of being a homeowner.

Chapter 12 of the Bankruptcy Code was developed in the 1980s specifically for family farmers and family fishermen.  In the 1970s, a rise in farm exports, commodity prices, and land values resulted in family farmers opening up larger and more expensive farming operations to keep up with demand.

I get this question a lot from clients.

What Is Overpayment?

Large amounts of student loans continue to be a problem for many people. The Washington Post recently reported on a Federal Reserve study concerning student loans and homeownership.

Internet ads promise huge savings on student loan debt if you consider refinancing with a specific company.  The companies like SoFi, CommonBond, Credible, LendKey and Splash Financial have been under heightened scrutiny by the Federal Trade Commission.

You've heard the commercials:

If you owe $10,000.00 or more to the IRS, CALL NOW. Don't contact the IRS alone.

Or

If you owe more than $5,000.00 in credit card debt, CALL NOW for help in consolidating your credit cards.

There are four costs to consider when filing for bankruptcy.  The four fees are credit counseling/personal financial management fees, filing fee, attorney’s fee and the trustee’s fee for administrating your case.