CAPÍTULO 11 BANCARROTA (REORGANIZACION) 2018-10-28T00:49:05+00:00

CAPÍTULO 11 BANCARROTA (REORGANIZACION)

El capítulo 11 del Código de Bancarrota de los Estados Unidos, ANAND LAW puede asistir a individuales y negocios para retener propiedades reales, prevenir juicio hipotecario, y reestructurar deudas. Varios ejemplos de lo que puede ser realizado con el Capítulo 11 de Reorganización son:

  • Detener ventas de juicio hipotecario y retener propiedad real;

  • Reestructurar deuda hipotecaria para que balances sean equivalentes al precio de mercado de las propiedades reales;

  • Reestructurar deuda hipotecaria con intereses más bajos;

  • Retirar gravámenes hipotecarios que no tienen garantía;

  • Retirar varios gravámenes fiscales

  • Eliminar deuda que no tiene garantía

Si está enfrentando juicio hipotecario, declarando bancarrota de Capítulo 11 puede ser la mejor, y talvez la única, manera de salvar su propiedad. Si es dueño de múltiples propiedades que están sobrecargadas, bancarrota del Capítulo 11 le podría ayudar a reducir sus balances debidos en cada préstamo a el precio del mercado corriente.

CAPÍTULO 11 PLAN DE PAGO

Si usted califica, el Capítulo 11 le dejaría retener su residencia primaria y propiedades que le producen ingresos, mientras paga un porcentaje de sus deudas no aseguradas. Será requerido a hacer pagos mensuales al Fideicomisario de Bancarrota. Después, el Fideicomisario de Bancarrota le hace sus pagos a los acreedores. ANAND LAW le puede asegurar un plan económico que le dejaría retener propiedades y pagar sus deudas no aseguradas.

EJECUCIONES HIPOTECARIAS Y EL CAPÍTULO 11 DE BANCARROTA

Si está enfrentando ejecuciones hipotecarias, declarando bancarrota del Capítulo 11 le podría ayudar a salvar su hogar. Si tiene más de $1,184,200 en deuda asegurada, usted no califica para bancarrota del Capítulo 13, y el Capítulo 11 podría ser la única manera de que pueda salvar su residencia primaria y sus propiedades para alquilar. ANAND LAW le puede ayudar a navegar la bancarrota y la ley de bienes raíces para que pueda detener su juicio hipotecario y hacer pagos razonables para que pueda continuar viviendo en su hogar. Nosotros le evaluaremos su situación para determinar si la declaración de bancarrota del Capítulo 11 o otra alternativa, como litigio, sea lo mejor para usted.

REMOVIENDO Y EMPACANDO EMBARGOS CON EL CAPÍTULO 11 DE BANCARROTA

En bancarrota del Capítulo 11, usted puede remover embargos no asegurados de sus propiedades rentadas. También puede “empacar” embargos que están parcialmente no asegurados de propiedades para alquilar; en otras palabras, si su saldo de la hipoteca es más grande que el precio del mercado de su propiedad, puede ser reducida al precio del mercado. Usted puede remover y “empacar”:

  • Hipotecas juniores (incluyendo HELOC)

  • Embargos HOA

  • Gravámenes fiscales

  • Embargos de juicio

CAPÍTULO 11 VS CAPÍTULO 13

Declarar bancarrota por el Capítulo 11 o el Capítulo 13 depende de la cantidad de deuda asegurada que tiene. Si tiene menos de $1,184,200 en deuda asegurada, el Capítulo 13 podría ser mejor para usted, pero tal vez no sea la mejor opción dependiendo en cuantas propiedades tenga en su posesión; el valor del mercado de cada propiedad; y la cantidad de deudas en casa propiedad. Como en el Capítulo 11, el Capítulo 13 puede ser usado para detener juicios hipotecarios, retener propiedades, y remover embargos. ANAND LAW puede evaluar su situación y determinar qué es lo mejor para usted.  Click here for more information on Chapter 13 bankruptcy.

ANAND LAW HA EXITOSAMENTE:

  • SALVADO RESIDENCIAS PRIMARIAS DE JUICIOS HIPOTECARIOS
  • SALVADO PROPIEDADES PARA ALQUILAR DE JUICIOS HIPOTECARIOS

  • ELIMINADO HIPOTECAS Y LÍNEA DE CRÉDITO CON GARANTÍA HIPOTECARIA

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An Adversary Proceeding (“AP”) is a full federal lawsuit, that is connected to a bankruptcy case, and in other ways similar to a normal lawsuit with discovery, motions and trial.   A Motion may be brought to request certain relief, and in other instances an AP is required.  Rule 7001 Federal Rules of Bankruptcy Procedure (“FRBP”) lists several categories which require an AP and can’t be brought by motion, and then there are exceptions to these categories.  Anand Law handles APs on behalf of  both Plaintiffs and Defendants, including but not limited to, suits related to fraud/misrepresentation, violations of lending laws, wrongful foreclosure, breach of fiduciary duty, and willful and malicious injury. 
Rule 3007 of the Federal Rules of Bankruptcy Procedure (“FRBP”) requires an objection to be “filed and served at least 30 days before any scheduled hearing on the objection or any deadline for the claimant to request a hearing.” In addition to the FRBP, the Local Rules must also be complied with.  The Local Bankruptcy Rules (LBR) also require 30 days notice.  See LBR 3007-1(b).  Each Judge also has their own so-called “Local Local Rules,” and compliance with these is also required.

An objection may be filed as a Motion or an Adversary Proceeding (“AP”), but compliance with other rules is required, and in certain instances an AP is required.  One such instance is “a proceeding to determine the validity, priority, or extent of a lien or other interest in property” (see FRBP 7001(2)).  

‘Cramming down’ refers to reducing the amount of the lien to the market value (i.e. removing the portion of the lien that is unsecured).  Liens that may be crammed down include mortgage, HELOC (home equity line of credit), HOA (Homeowners’ Association), and judgment.

This depends on a variety of factors, including what your score currently is, what chapter you file for, and if you successfully complete your bankruptcy.  While filing for bankruptcy may lower a credit score, it will not necessarily do so. In fact, if you already have a low credit score, filing can actually increase your score, especially after successful completion of a Chapter 13 or Chapter 11 bankruptcy plan in which you pay off some of your debt. Chapter 7 bankruptcy can also, in certain instances, increase a low credit score, after successful discharge.  It is also important to know that you can always re-build your credit after bankruptcy, and ANAND LAW can guide you on how to do so.

In order to understand the unpredictability of how bankruptcy may affect your credit score, it is helpful to understand how credit scores are calculated.

CALCULATION OF YOUR CREDIT SCORE

Credit bureaus (also known as “credit reporting agencies”) act an intermediary between consumers, businesses and lenders.  The credit bureaus collect data from various sources, and then use this data to create your credit score.  The bureaus use third-party companies, each who employ their own methodology, to calculate these scores.

THE MAJOR CREDIT BUREAUS AND SCORING AGENCIES

There are dozens of credit reporting agencies, but the three national agencies that a majority of lenders and businesses use are Experian, Equifax, and Transunion.  Similarly, there are many credit scoring companies, but the two most common are FICO and VantageScore.  Experian Equifax and Transunion came together to create VantageScore, and all continue to use them to generate credit scores.

The credit scores are based on how the various data collected interacts with each other.  There are approximately 220 million consumers that credit reports have been created for, and approximately 36 billion pieces of credit data utilized in credit reports every year to create the credit scores (source: VantageScore).

The exact methodology used is complicated and uncertain, but factors include: payment history with lenders, banks, and credit card companies; amounts owed; length of delinquencies; length of accounts in good standing; and, types of credit being used.  Scores from each bureau may differ for a variety of reasons, including the timing of the data provided.

IMPROVING YOUR CREDIT SCORE

Regardless of the credit bureau (e.g., Experian, Equifax, or Transunion), or the scoring agency (e.g., FICO or VantageScore), you can improve your credit score, no matter how bad it is, and no matter the reason for it being low (whether due to bad payment history, repossessions, judgments, liens, foreclosure, or other).  In general, you can improve your credit score by using credit (e.g., through a credit card, line of credit, or loan), and paying bank all use of that credit on time.  The longer you consistently pay on time, and the higher the amount of credit being used, the better your credit score will be.  You can re-establish your credit even after repossessions, judgments, liens, or foreclosure by maintaining a pattern of using credit and repaying the lender timely.  There are lenders willing to extend credit to nearly anyone, regardless of their score, and even lenders that extend credit to individuals in active bankruptcy proceedings.  However, it is important to note that, in general, the lower your credit score, the more it will cost to obtain the credit (i.e., the higher interest rate you will receive)–this makes it even more critical that you pay on time.  The bottom line is that it is not hopeless–with some patience and organization to manage your finances, you can re-establish and build your credit score.

The fact that you have filed a bankruptcy will not prevent you from getting credit. While you should expect getting credit to be more difficult and expensive, there are actually many lenders that target people recently discharged from a bankruptcy since they have no other debt, are ready to establish their credit and they can’t file for bankruptcy any time soon.

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