Dealing with a Debt Not Listed in Your Bankruptcy Case

Wasson and ThornhillDischarge of Debts

The consequence of a debt not listed in your bankruptcy case is you may still owe it afterwards. So how do you make sure to list every one?   Several blog posts ago we introduced the law that debts “neither listed nor scheduled” risk not being forgiven in bankruptcy. Section 523(a)(3) of the U.S. Bankruptcy Code. This follows the bankruptcy principle that debts … Read More

Dealing with a Debt Sold to a Collection Agency

Wasson and ThornhillDischarge of Debts

You should list all your debts when you file bankruptcy, but what if one was sold to a collection agency without you knowing about it?   Our blog post two weeks ago was about needing to list all your debts in a bankruptcy case in order to write them off. This is part of a series of blog posts about … Read More

Debts Included Because Creditor Learns about Your Bankruptcy

Wasson and ThornhillDischarge of Debts

You should list all your debts when you file bankruptcy. But a debt may also get discharged if the creditor timely learns about your case.   Last week’s blog post was about the importance of listing all debts in a bankruptcy case to write them off. Debts “neither listed nor scheduled” in the bankruptcy documents are not discharged (legally written … Read More

Debts Not Listed in Bankruptcy

Wasson and ThornhillDischarge of Debts

You must list all your debts when you file bankruptcy. So don’t skip any on purpose. Plus debts not listed you could still owe afterwards.   Supposed to List All Creditors  You can’t pick and choose which debts to include in your bankruptcy case. The U.S. Bankruptcy Code says that the first duty of a bankruptcy debtor is to provide … Read More

Debts NOT Discharged in Bankruptcy

Wasson and ThornhillDischarge of Debts, Uncategorized

Bankruptcy wipes out most debts. The only ones that aren’t are explicitly not discharged under federal bankruptcy law.   Debts Covered by the Discharge The basic rule is that bankruptcy discharges all your debts unless a particular debt fits a listed exception. Focusing on Chapter 7 “straight bankruptcy” today, you will likely receive an Order of Discharge from the bankruptcy court within … Read More

Bankruptcy Wipes Out Debts

Wasson and ThornhillDischarge of Debts

You know bankruptcy wipes out debts. But WHEN it does so is very different with Chapter 7 vs. Chapter 13. Either way, at the end they are gone.   The main goal of most consumer bankruptcy cases is to get a fresh financial start through writing off debts.  The legal bankruptcy term for write-off is “discharge.” In virtually all successful … Read More

Unexpected Benefit: Stop Collection on an Allegedly Fraudulent Debt

Wasson and ThornhillDischarge of Debts

You’re not likely to be accused of creating a fraudulent debt. But if so, bankruptcy can stop its collection. And resolve the problem.   Most Debts are Discharged (Permanently Written Off) in Bankruptcy The federal Bankruptcy Code has a list of the kinds of debts that filing bankruptcy does not discharge. This list details the conditions under which discharge does … Read More

The Chapter 7 Trustee Opposing Your Discharge of Debts

Wasson and ThornhillDischarge of Debts

In most Chapter 7 cases nobody opposes your discharge of debts. They get written off. But the trustee is one who might raise issues.   Last week we discussed the role of the Chapter 7 trustee in reviewing your assets at the “meeting of creditors.” Today we get into the other main job of the trustee, to, “if advisable, oppose … Read More