Baran Bulkat is a former consumer bankruptcy attorney with extensive experience in Chapter 7 and Chapter 13 bankruptcy filings as well as debt settlement. He has authored numerous bankruptcy and debt management articles on Nolo.com as well as other Nolo sites. He has also updated a previous edition of Nolo's book, How to File for Chapter 7 Bankruptcy.
In addition to his bankruptcy experience, Baran also worked as an analyst and compliance manager for a large financial planning firm where he obtained his Series 7, 24, and 66 securities licenses.
Baran received his undergraduate degree in business management from Georgia Tech and his law degree from California Western School of Law.
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Articles By Baran Bulkat
There is no minimum amount of debt you must have in order to file for bankruptcy relief. While the amount of your debt is an important factor to consider, there are other more important factors to take into account in determining if a bankruptcy filing is in your best interest. These include:
In Chapter 13 bankruptcy, you get to keep your car and pay off your car loan through a repayment plan. Further, you may even be able to reduce the principal balance and interest rate on your car loan.
In most cases, if you are behind on your homeowners’ association (HOA) dues, the HOA can place a lien and foreclose on your property. Whether filing for bankruptcy can help you keep your home will typically depend on whether you file for Chapter 7 or Chapter 13 bankruptcy. What Is an HOA Lien? In
If you are not making timely car loan payments, Chapter 7 bankruptcy cannot permanently prevent a car repossession. However, Chapter 7 can temporarily delay the lender from repossessing your car and allow you more time to negotiate or cure your default.
If you have a lot of equity in your home, filing for Chapter 13 bankruptcy can allow you to keep your home and reorganize your debts. But if you can’t exempt all of your equity, you may have to pay back a significant portion of your unsecured debts through your repayment plan. Read on to learn more
Many debtors file for Chapter 13 bankruptcy to reorganize their debts and catch up on their missed mortgage or car loan payments through an affordable repayment plan. If you successfully complete your repayment plan, you will receive a bankruptcy discharge that wipes out your personal liability for
Whether you file for Chapter 7 or Chapter 13 bankruptcy, you must attend a mandatory hearing called the meeting of creditors (also called the 341 hearing).
Before you can receive a discharge in Chapter 7 or Chapter 13 bankruptcy, you must complete a course in personal financial management (also called the predischarge debtor education course). The purpose of the debtor education course is to teach you how to manage money and use credit wisely after bankruptcy.
The bankruptcy court can dismiss your Chapter 13 case for many reasons. In most cases, you can file a new bankruptcy right away. But sometimes it can be in your best interest to appeal the dismissal order to a higher court for further review.
If you don't make your Chapter 13 bankruptcy monthly plan payments, the bankruptcy trustee will ask the court to dismiss your case. If the court does dismisses your Chapter 13 bankruptcy for nonpayment, you may be able to appeal the dismissal to a higher court. However, in most cases you can work