Filing a Chapter 13 bankruptcy first for medical debt. Sometimes if you will have ongoing large medical debt you may want to file a Chapter 13 while you are reaching recovery. If you filed immediately as a 7 you would not be able to discharge the ongoing claims you will have over the ne...
Which debts are not discharged? Which debts are discharged? Bankruptcy discharge vs. dismissal Can your bankruptcy discharge be denied? Bankruptcy discharge of tax debts What happens to a discharged debt in bankruptcy? When creditors still call after a bankruptcy discharge A bankruptcy discharge is th...
Discharge debt refers to debt that has been forgiven, or discharged. This commonly occurs during bankruptcy or the related equivalent. Some debt may also be discharged in other circumstances, such as through negotiation with the creditor. When an individual borrows money, he becomes a debtor. He...
Basics of the Bankruptcy Schedules 15 of 23 What Is Nondischargeable Debt? 16 of 23 What Are Nonexempt Assets in a Bankruptcy Case? 17 of 23 Can I Lose My Retirement in a Bankruptcy? 18 of 23 Dismissing a Bankruptcy Case Without Discharge 19 of 23 consequences of bankruptcy 20 ...
Definition and Example of a Bankruptcy Discharge A discharged debt literally goes away. It's no longer collectible. The creditor must write it off. Debts that are likely to be discharged in a bankruptcy proceeding include credit card debts, medical bills, some lawsuit judgments, personal loans,...
How Debt Affects Your Mental Health and Ways to Cope: Paying off debt can be a long-term endeavor if you have steep high-interest balances. But it’s important to keep things in perspective and take care of your health. What Is Auto Loan Refinancing?: Understand how refinancing your auto...
What are the best steps consumers can take to reduce their dependence on debt and avoid accumulating high debt in emergencies or other unexpected situations? If a consumer decides to pursue debt consolidation, credit counseling or bankruptcy, what should they look for in the companies and profession...
Bankruptcyoffers people who are overwhelmed by debt an opportunity for a fresh start through either liquidation (Chapter 7) or reorganization (Chapter 13). In both cases, the bankruptcy court can discharge certain debts, but not all types of debt. Once a debt has been discharged, the creditor ...
Nondischargeable debt is a type of debt that cannot be eliminated through a bankruptcy proceeding. Such debts include, but are not limited to, most student loans; most federal, state, and local taxes; money borrowed on a credit card to pay those taxes; and child support and alimony. Key...
is a comprehensive guide for understanding and navigating the bankruptcy process, from the time of filing through the end of the case, with the goal of receiving a discharge rather than a dismissal. Written by an attorney who has practiced and lectured on bankruptcy matters for many years, ...