Unexpected Benefit: Use Chapter 7 to Permanently Stop Student Loan Collections

Wasson and ThornhillStudent Loans

Chapter 7 bankruptcy can temporarily stop student loan collections. Here are several ways it can stop these collections permanently.   Bankruptcy gives you tools to deal with special debts—including those you can’t easily write off. Last week we got into income taxes. Today we discuss student loans, focusing on this special kind of debt in Chapter 7 “straight bankruptcy.” Next … Read More

A New Year, a New Financial Start

Wasson and ThornhillBankruptcy Advice

It’s a new year. What could be a better resolution than to get a new financial start for 2018!? What could be better than that?   An Overall New Financial Start Get a new start by discharging (permanently, legally writing off) all or most of your debts. If you have mostly consumer or small business debts you have two main … Read More

The Tax Exceptions

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In spite of you filing bankruptcy, the taxing authorities can still take certain very specific actions as exceptions to the automatic stay.

Relief from the Automatic Stay

Wasson and ThornhillAutomatic Stay

Creditors sometimes ask the bankruptcy court for permission to take certain collection action against you or the collateral.   In our last blog post we talked about the “automatic stay.” It’s one of the most important benefits of filing bankruptcy. It’s certainly the fastest, going into effect immediately when you or your Louisville lawyer files your bankruptcy case. The automatic … Read More

The “Automatic Stay”

Wasson and ThornhillAutomatic Stay

You get immediate protection from creditor collections by filing a Chapter 7 case. Same with Chapter 13 except it protects you longer, if needed.   The automatic stay is the very strong legal protection from your creditors you receive when you file a bankruptcy case. The automatic stay stops virtually all attempts by creditors to collect their debts against you, … Read More

Disputed Lien in Chapter 13

Wasson and ThornhillChapter 13

When a creditor may not have a valid lien, Chapter 13 gives you a good way to defeat that disputed lien and the claim against your property.