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
The main goal of bankruptcy is often to write off–“discharge”–your debts. Here’s how it works in Chapter 7 “straight bankruptcy.”
In most Chapter 7 cases, there is not much practical effect to what creditors put on their proofs of claim.
There are various ways of dealing with debts that arise during the course of your Chapter 13 “adjustment of debts” case.
The timing of your Chapter 7 “straight bankruptcy” case can make a huge difference in dealing with your debts.
Most debts can be discharged–permanently eliminated–in bankruptcy. Here are the exceptions.
In your goal of getting a fresh financial start, your most important tool is the “discharge”–the permanent legal elimination of your debts.
Christmas and bankruptcy have some surprisingly similar themes: somebody DOES care about your misfortune, and life CAN be better.
The holiday season is a time to be nice. But don’t do so by paying relatives & friends what you owe them if you are considering bankruptcy.