In a Chapter 7 no-asset bankruptcy case, the trustee collects nothing from you and pays nothing on your debts, including your priority ones. Most Chapter 7 Cases Are No-Asset Cases Chapter 7—“straight bankruptcy”—is the most common type of consumer bankruptcy case. They are generally the most straightforward, lasting about 4 months start to finish. Usually everything you own is … Read More
Priority Debts in Bankruptcy
In bankruptcy some debts are treated much, much better than others. Priority debts are treated much better in various important ways. Debts Are Different So the Law Recognizes Some Differences The law does not treat all debts the same. That’s because you have different kinds of creditors that you owe for very different reasons. The law tries to be … Read More
Bankruptcy and Your Debts
Bankruptcy resolves your debts. How it does so depends on whether your debt is secured, priority, or general unsecured. Your debts are the reason you are reading this. You want to know how bankruptcy would deal with your debts. Will bankruptcy write off all your debts? Can you keep paying some of your debts like a vehicle loan or … Read More
Different Types of Debts in a Chapter 13 Plan
The laws about the treatment of different types of creditors can often be used in your favor to pay who you want or need to pay.
Get Your Bankruptcy Trustee to Pay a Priority Debt
You can put a “preferential payment” to work for you if you owe a “priority” debt–back child or spousal support, or recent income taxes.
Objecting to Priority and Secured Proofs of Claim
If a creditor’s proof of claim is a “priority” or secured debt is too high, object to it to avoid paying too much in your Chapter 13 case.
The Special Role of “Priority” Debts in Bankruptcy
What makes “priority” debts so special?