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

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

A Debt You Personally or Morally Want to Pay

Wasson and ThornhillBankruptcy Advice

If you feel personally or morally obligated to pay a debt, Chapter 7 allows you to do that, while Chapter 13 puts up roadblocks.   Our last blog post was about debts that you still pay after a Chapter 7 “straight bankruptcy” case. These included debts you might WANT to pay as well as those that you are legally REQUIRED … Read More

How Chapter 7 Deals with General Unsecured Debts

Wasson and ThornhillEffects of Bankruptcy

In a Chapter 7 case your unsecured debts are either priority or general unsecured. Chapter 7 legally writes off all or most of the latter.   Last time we said there are two kinds of unsecured debts, “priority” and “general unsecured”: “Priority” debts are those that the law treats as special for various reasons. Past-due child support and unpaid recent … Read More