Filing Chapter 7 bankruptcy doesn’t mean you have to give up your car and home if they are collateral for a loan. The debtor and the creditor can sign a reaffirmation agreement which will allow the debt to survive the bankruptcy discharge. If the debt is reaffirmed, after the bankruptcy the debtor continues to make […]
If you are making payments on a car loan, and are struggling with your bills, you may want to consider filing Chapter 13 bankruptcy. This form of bankruptcy affects car loans in many different ways. If you want to surrender your car to the creditor and walk away from the debt, bankruptcy may allow you […]
Student loans are unsecured claims but unlike other types of unsecured claims they usually cannot be discharged in bankruptcy. The treatment they receive in bankruptcy cases differs depending upon whether the debtor filed under Chapter 7 or Chapter 13 of the Bankruptcy Code. In Chapter 7 cases student loan creditors do not collect payment from […]
Borrowing money is seldom a simple process. You may need to go to several lenders before you are approved for a loan, and by the time the process is completed you are so relieved to be getting the money that you sign the documents without reading them. Don’t be embarrassed because you are not the […]
In community property states, when you get married your new spouse’s debt doesn’t automatically become your debt but that doesn’t mean it won’t cost you. In Texas, creditors may be able to collect debt from assets that are community property. Community property consists of most assets that are acquired during the marriage. So you may […]