A reaffirmation agreement is an agreement between a debtor and a creditor in a Chapter 7bankruptcy case which allows a specific secured debt to survive the bankruptcy discharge. The reason a debtor may want to enter into this type of agreement is because they wish to keep collateral that is securing the debt. In Chapter […]
DALLAS TEXAS BANKRUPTCY: REPAYING LOANS TO FAMILY MEMBERS
Dallas Texas Bankruptcy: One of the more unfortunate results of filing bankruptcy occurs when a debtor has made payments to a family member to repay a debt prior to filing bankruptcy. Section 547 allows the Trustee to avoid any transfer of an interest of the debtor in property made within 90 days before the filing […]
FILING A CLAIM IN CHAPTER 13 BANKRUPTCY ISN’T JUST FOR THE CREDITORS
In Chapter 13 bankruptcy, debtors prepare a plan to repay their creditors. Creditors have an opportunity to review the plan, and if they feel they are being treated unfairly, they can file an objection to the plan. Once all objections are resolved, and the plan is confirmed by the Court, the creditors are bound by […]
FILING BANKRUPTCY TO STOP GARNISHMENT OF ACCOUNTS AND WAGES
Debtors who are having their bank accounts or wages garnished may be able to stop garnishment by filing bankruptcy. Whether the garnishment can be stopped depends on the reason for the garnishment. Garnishments due to collection of judgments, collection of student loan debt, tax liability, and arrears due to domestic support obligations can all be […]
STUDENT LOANS -YOU MAY WANT TO PAY IN YOUR BANKRUPTCY CASE
Student loans are a peculiar sort of debt in the context of a Chapter 13 bankruptcy case. They are unsecured which entitles them to low priority for repayment in Chapter 13 plans, yet they are nondischargable, meaning the student loan debt survives the bankruptcy discharge. Because of these two traits, it is very important to […]