Van Horn Law Group Blog

How Long Does a Bankruptcy Stay on Your Credit Report?

Posted by Chad Van Horn on Jul 25, 2016 9:15:24 AM

In this part of the 21st century it often seems as if we live and die by our credit reports. The scores and information contained in those reports can influence everything from what jobs we get, to how much we pay for insurance on our homes and cars, and where we can live. Many of us spend a lot of time and effort getting into and staying in a good credit range, but sometimes life takes a turn. Usually something happens and you are in a bankruptcy court, working out a way to move forward from debts that are overwhelming. 

All negative credit information sticks on your credit report, but the good news is that the stickiness diminishes over time. In other words, the older the ding, the less relevant it is to your current credit status. For most negative information, seven is the magic number. Certain debts such as unpaid tax liens and other public debts can stick around indefinitely, but for collections, foreclosures, and late payments, the term is seven years.

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Topics: Chapter 13, Bankruptcy, Chapter 7

Declaring Chapter 13 Bankruptcy on Mobile and Manufactured Homes

Posted by Chad Van Horn on Jul 15, 2016 8:58:32 AM

Chapter 13 Bankruptcy “Cram-Down” on Mobile and Manufactured Home

If you are considering filing for bankruptcy, you will have heard the term “cram-down” but may not know what it means or how it benefits you. The bare-bones legal definition of a cram-down is where a person or entity has filed for bankruptcy and one or more creditors are objecting to the terms or to modifications imposed by the court. The court has the final say on the terms of the reorganization and has the ability to cram them down the creditors’ throats. It’s an inelegant term, but apt, and in many cases one that is useful and beneficial because it reduces the balance owed down to the value of the property which secures it– this includes your mobile or manufactured home under certain circumstances.

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Topics: Chapter 13, Bankruptcy

Federal Tax Debt and Filing for Bankruptcy: What It Can and Can't Do

Posted by Chad Van Horn on Mar 15, 2016 7:30:00 AM

First and foremost, you need to know this: If you are under audit, filing for bankruptcy will not stop the audit. All that filing for bankruptcy will do is suspend any collection action while the bankruptcy is pending - and that is only if there is no Stay of Relief filed by the IRS. The filing of bankruptcy is a serious matter and the court tends to look poorly upon people playing games with the processcase in point is this fool here

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Topics: Chapter 13, Bankruptcy, Chapter 7, IRS Debt

How Long Does Bankruptcy Take?

Posted by Chad Van Horn on Aug 10, 2015 7:30:00 AM

Sometimes, no matter what you try, you may find yourself drowning in debt and decide to file for bankruptcy. It's something most people dread having to do, and try to avoid at all costs, but sometimes bankruptcy is the only choice left. Once you've figured out the paperwork and how to file, the next question becomes how long does bankruptcy take?

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Topics: Chapter 13, Bankruptcy, Chapter 7

The Better Bankruptcy Choice, Chapter 7 or Chapter 13 Bankruptcy?

Posted by Chad Van Horn on Apr 28, 2015 7:30:00 AM

How Do You Make The Better Bankruptcy Choice?

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Topics: Chapter 13, Bankruptcy, Chapter 7

Understanding the Basic Differences Between Chapter 7 and Chapter 13

Posted by Chad Van Horn on Feb 9, 2015 9:00:00 AM

Bankruptcy is hardly anyone’s favorite option when dealing with difficult financial situations, but in some cases, it is the only viable route. Debt.org reports that bankruptcy patterns have shown a marked increase from 1980 – 2005. While they have decreased slightly, one out of every 50 households will file bankruptcy within a year on average. Total Bankruptcy states that typically Chapter 7 is more popular than Chapter 13, but in certain cases, Chapter 13 is the better choice. It’s important to understand the basic distinctions between the two so that you can make an informed choice.

Chapter 7 Bankruptcy

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Topics: Chapter 13, Bankruptcy, Chapter 7


About Chad Van Horn


Chad T. Van Horn, Esq. is a South Florida business leader and founding partner attorney of Van Horn Law Group, P.A. Through a combination of dedicated philanthropy, spirited entrepreneurship and legal expertise, he applies his resources and network to helping people. Learn more about Chad Van Horn.


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