The goal of bankruptcy proceedings is to obtain a discharge of debts, which means the debtor is no longer personally liable for that debt. Q: What does a "discharge of debt" mean, exactly? A: The goal of bankruptcy proceedings is to obtain a discharge of debts, which means the debtor is no longer personally liable [...]
The goal of bankruptcy proceedings is to obtain a discharge of debts, which means the debtor is no longer personally liable for that debt. Q: What does a "discharge of debt" mean, exactly? A: The goal of bankruptcy proceedings is to obtain a discharge of debts, which means the debtor is no longer personally liable [...]
When a debtor files for Chapter 13 bankruptcy , he/she can choose to have the repayment amount automatically deducted from their paycheck. The bankruptcy deduction can be has high as you prefer or as low as you prefer as long as it covers the amount you agreed to pay in the bankruptcy plan. There is [...]
Law protects you from being discriminated against because of a bankruptcy. One of the things people often worry about when considering bankruptcy is, "What will happen at my job?" Often times the answer is nothing, but in the event that something does happen, it is almost always very minor. In fact, law protects you from [...]
Forgot to Add a Creditor When You Filed Bankruptcy? Filing bankruptcy can be extremely hectic and many debtors make mistakes with their filing. One of the most common bankruptcy mistakes is forgetting to list a creditor on the bankruptcy filing. Let's take a look at what happens when you forget to list a creditor on [...]
One of the most common question potential clients ask is, "Who should file for bankruptcy?" Unfortunately, this isn't a simple question to answer, and it's going to depend on each person's unique financial situation. However, the following is a non-exhaustive list of situations that should make you at least seriously consider filing for bankruptcy, especially [...]
Many debtors delay bankruptcy because they don't want to give up one of their prized possessions. What these debtors fail to understand is that many assets, including a house or vehicle can be retained by the debtor even after they file bankruptcy. But there are some things you must understand. When a debtor files bankruptcy [...]
Are you considering bankruptcy, but are worried about what will happen to a co-signer? Well, there's good news and there's bad news. If a debtor files for Chapter 7 bankruptcy , the debt can be discharged, freeing the debtor from any further repayment obligation; but the co-signer on that debt may still be responsible for [...]
Often debtors filing for bankruptcy have bounced check obligations. Fortunately, bankruptcy discharges bounced check debts and other associated bank debts such as overdraft fees. The check reporting companies are obligated to accurately list the debtor's account as "$0" balance or "discharged in bankruptcy." But some debtors may still have trouble opening a bank account after [...]
Paying Delinquent Rent During Bankruptcy Many renters filing Chapter 13 bankruptcy find themselves owing several back months of rent; plus other unsecured debt. When handling the repayment of delinquent rent during bankruptcy the debtor should work with their bankruptcy attorney to create a written agreement with the landlord to repay the rent over the first [...]