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01 January
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What is a Co-Debtor Stay in Chapter 13 Hawaii Bankruptcy?

Posted by Ed Magauran
in Recent Articles

The Co-Debtor Stay applies in Chapter 13 bankruptcy toconsumer debts. It does not apply in a Chapter 7 bankruptcy. The co-debtor stay stops collection against people who are not in bankruptcy.  When a person files chapter 13 that filing also protects any one else who owes onthe debt as well.  It protets them even though they did not file bankruptcy. A co-debtor is someone who agrees to be liable on the debt with the debtor, the person filing bankruptcy. It does not matter if they sign as "secondary" or "primary" or as "guarnator" or as a "surety." All of those persons...

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01 December
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What is Lien Stripping In a Chapter 13 Hawaii Bankruptcy?

Posted by Ed Magauran
in Recent Articles

Lien Stripping is available in a Chapter 13 bankruptcy. It is not available in a chapter 7 bankruptcy. Lien Stripping is permissible, with several caveats, when the Fair Market Value of the property is worth less than is owed on the secured lien to be stripped. For example, if the fair market value of your residence is $450,000.00 and you have two mortgages. The first mortgage balance is $450,001.00 then the second mortgage is "wholly undersecured" and may be stripped. If you are successful in stripping the lien, in order for it to stay stripped, you must fully complete the Chapter 13...

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