Chapter 7, sometimes called “straight bankruptcy,” is the simplest type of bankruptcy, yet it can also handle not-so-simple debt problems.
Chapter 7 “straight bankruptcy” doesn’t stop aggressive collection of back support. But Chapter 13 does, and protects you while you catch up.
Chapter 13 âadjustment of debtsâ has a special way of helping with your support obligation. How about Chapter 7?
No. The bankruptcy court respects and doesn’t change the support decisions of your divorce court. But bankruptcy can still help.
The âco-debtorâ stay is a remarkable tool for protecting your co-signer from having to pay your debt.
Sometimes you donât need the extra help of the Chapter 13 âco-debtorâ stay to protect your co-signer from your debt problems.
Almost never. You do need to attend a 5-to-10-minute meeting, accompanied by your attorney, which is usually straightforward.
Not under Chapter 7; more likely under Chapter 13. But it’s illegal to be fired or discriminated against in your job for filing bankruptcy.
Sometimes you don’t know who exactly you owe on a debt. Or whether you owe a debt at all. List all possible creditors to make sure.
Wasson & Thornhill has been named Bankruptcy Law Firm of the Month by the Kentucky edition of Attorney at Law Magazine. Below is an excerpt and you can read the full article by clicking here or click here to download a PDF. One of the secrets of the legal profession is that larger firms need a lot of volume to make their … Read More
In general, you must include every creditor in your bankruptcy documents. Most concerns you may have about this can be satisfied.
A bankruptcy filing is a matter of public record, so anybody can find out about it. But mostly just your creditors will know.
A Chapter 13 plan lets you propose what collateral you want to keep and what it is worth paying for, giving you a lot of leverage.