by John Rogers | Apr 18, 2009 | Uncategorized
For individuals who can not pay their debts- called “debtors”-bankruptcy has two main purposes: First, bankruptcy operates to give the people who are owed money-the creditors-a fair share of the money that the debtors can afford to pay back....
by John Rogers | Apr 16, 2009 | Uncategorized
A reaffirmation agreement is an agreement by a debtor and creditor in Chapter 7 bankruptcy about how to treat a particular debt that would otherwise be discharged in the debtors bankruptcy. Usually, the debt is secured by collateral that the creditor could repossess...
by John Rogers | Apr 14, 2009 | Uncategorized
At the conclusion of an individual’s bankruptcy case, the Court enters an order closing the case, and a copy of this order is sent to the debtor. Unless the trustee has assets to distribute to creditors, case closing takes place fairly quickly in Chapter 7...
by John Rogers | Apr 13, 2009 | Uncategorized
The discharge in a Chapter 7 case only covers the debts that were incurred before the case was filed. The bills that a debtor incurs after the case is filed are not discharged. The hope is that, after their old debts are cancelled by the discharge, debtors will be...
by John Rogers | Apr 2, 2009 | Uncategorized
When choosing the right bankruptcy attorney or lawyer professional to assist you in making the best and correct decisions for your financial situation, many factors apply. One of the most important of those factors is experience. It is very important to have an...
by John Rogers | Apr 1, 2009 | Uncategorized
Whenever a debtor’s application for credit is denied, the credit issuer is required to give the debtor, on request, a copy of any credit report that was used in making the decision. Otherwise, debtors can obtain their credit reports for the major credit...
