Blog Posts in July, 2010

Some debts will be discharged in a chapter 7 bankruptcy case UNLESS the creditor files a complaint and obtains a court order that the debtor will remain responsible for the debt after the case is ...

In a chapter 7 bankruptcy, the debtor is able to “discharge” or cancel the obligation to pay certain debts. These debts typically include: credit card medical bill personal loan deficiency balances ...

If someone “co-signs” a contract in order to help a friend or family member get a loan, that co-signer is legally liable to pay the debt and his or her credit report will reflect that. What if the ...

Amounts paid on certain debts secured by assets can be reduced in a chapter 13 bankruptcy. The most common are: 1. Car loans entered into more than 910 days prior to the filing of a chapter 13 ...

When a chapter 13 case is filed, a “plan” must be proposed that tells the court and creditors how each debt is going to be treated i.e. paid or not, how much and when. How each type of debt is ...

If a car was purchased more than 910 days prior to the date a chapter 13 bankruptcy case is filed and the car is worth less then what the bank is owed, the debtor should be able to change the amount ...