Bankruptcy Grants
Bankruptcy Grants
How soon after a Chapter 13 bankruptcy is dismissed will creditors begin calling?
I filed Chapter 13 bankruptcy approx 2-1/2 years ago and have fallen behind on my payments. I am 3 months late now and my attorney has given me until the end of this month to come up with money I won’t have. I’m sure my case will be dismissed by the court. Does anyone have any information on what will happen at that court date? If my case is dismissed, how soon after will creditors begin calling again? Is there any hope that the court will grant me the “probation” period and allow me the opportunity to get caught up on my payments?
How soon after a Chapter 13 bankruptcy is dismissed will creditors begin calling?
If you are unable to make your payments in your Chapter 13, depending on your situation (why you can’t pay), your attorney can file for a Moratorium. This will give you until (a date that will be set) and then begin making payments again.
You will need to ask your attorney if you can do this. If you can’t or if you already did and the Motion for Moratorium was denied, you can convert your Case to a Chapter. You would not need to make payments, but depending on your assets, this may impact your other situations.
Talk to your attorney and see what would be your best option.: Moratorium versus conversion to chapter 7.
There is a court fee for the conversion as well as some attorney’s may require an additional retainer fee for this as you are adding additional services to your original retainer agreement.
As for the Creditors, if you can not make payments and a moratorium is not granted, the Trustee may move for your case to be dismissed for non-payment. Once the case is dismissed, your creditors may contact you. All parties that receive notice in your case, will receive a copy of the Order of Dismissal, if it is issued.
Good luck with whichever way you go.
Eliminating Accrued Debt Through A Government Grant – Give It A Serious Thought!
If the thought of being able to go about eliminating accrued debt through a government grant appeals to you, understand first of all that the government does have a lively business going in grants, though most of those grants aren’t exactly set up to help a person pay off accrued debt. Still, such a grant can successfully be applied for and then obtained if one knows what to do.
The key to securing a government grant in almost every circumstance is to demonstrate just why and for what reasons the grant is needed. In the case of something like a government grant in order to help with debt relief, the reasons will also have to include demonstrating a complete inability to repay the debt that has been accrued. If that is the case, then applying for a grant could just work out.
Head over to the federal website that deals with grants and look at what it has to say about applications and procedures. Also, don’t forget to check out a couple of good commercial websites on the Internet that can help assist in the process. A grant is a gift from the federal government and will not have to be repaid in the future, which can make it the ideal instrument instead of a bankruptcy.
Grants of this sort aren’t easy to get, and it may just make sense to look at other forms of government assistance such as mortgage or foreclosure prevention programs and the like, but this isn’t to say that a grant cannot be had when it comes to eliminating debt once and for all. The government is eager these days to give away money in order to prop up the economy. Take advantage of that fact.
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