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
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
Could you afford your home if you didn’t have to pay your other creditors or didnât have to pay second mortgage payments?