By Jeff Field | Published August 30, 2022 | Posted in Bankruptcy | Tagged Tags: adversary proceeding, BAPCA, credit card companies, debt discharge | Leave a comment
How Credit Card Companies Can Challenge Debt Discharge
Credit card debt is one of the financial issues that can push a borrower into filing for bankruptcy. However, federal law allows a creditor to challenge discharge of a particular debt by claiming it was obtained by “false pretenses, false representation, or actual fraud.” Credit card companies have two primary strategies for raising such challenges. Read More
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Can You File a Chapter 7 Without Affecting Your Spouse?
Married couples often file joint bankruptcy petitions. In many cases it makes perfect sense for both spouses to liquidate (Chapter 7 bankruptcy) or reorganize (Chapter 13 bankruptcy) their debts. However, it is possible for only one spouse to declare bankruptcy and under certain circumstances, it is in the couple’s best interests to do so. One Read More
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What a Bankruptcy Attorney Can Do That You Probably Can’t
Individuals filing for bankruptcy have the right to represent themselves. Some people are tempted to do so, reasoning that bankruptcy consists of simply filling out forms. However, in most cases, going into bankruptcy without an attorney is a risky course of action. According to recent statistics, people who file Chapter 7 bankruptcy petitions through legal Read More
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Bankruptcy Abuse Prevention Law Can Limit Discharge of Credit Card Debt
The purpose of bankruptcy is to give financially overwhelmed individuals a fresh start and the chance to repair their credit. Many types of consumer debts can be discharged (canceled) in bankruptcy, including personal loans, medical bills, past due utility charges and, quite commonly, credit card accounts. In fact, much of the debt in Chapter 7 Read More
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How Chapter 13 Can Help You Modify Your Home Mortgage
Chapter 13 is a form of bankruptcy in which unsecured debts are partially paid off over a period of years, with the remainder discharged once the case is complete. However, most Chapter 13 cases involve one or more secured debts, which remain in force. For example, a home mortgage loan is secured by a lien Read More
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Using Chapter 7 to Protect Your Personal and Business Assets
While Chapter 7 is commonly thought of as consumer bankruptcy, debtors often have business debt as well. Many people operate small businesses full-time or have “side hustle” businesses they run on a part-time basis. When entrepreneurs face overwhelming debt associated with the business, they may look to bankruptcy as a remedy. A common question is Read More
Read MoreCan You Keep Your Car if You File for Bankruptcy in Georgia?
Your ability to keep your vehicle while filing for Chapter 7 bankruptcy in Georgia depends on whether you are covered under the state’s motor vehicle exemption. Equally important is whether you are making payments on the car and can continue to make those payments. You can keep your car when you file for Chapter 7 Read More
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Are IRAs Exempt From Creditors During Chapter 7 Bankruptcy?
In a Chapter 7 bankruptcy (also known as “liquidation”), a court-appointed trustee is tasked with collecting and selling the debtor’s assets and using the proceeds to pay the creditors. However, the trustee cannot take everything. The debtor can legally retain ownership of certain assets, in whole or in part. These bankruptcy exemptions include various forms Read More
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Proving “Undue Hardship” to Discharge Student Loan Debt
Americans are now burdened by $1.75 trillion in student loan debt. That’s twice as much as the $856 billion Americans owe on credit cards. Not surprisingly, a large number of people who file for bankruptcy have student loan debt. Unfortunately, only about 1 percent of them even try to get that debt discharged. Part of Read More
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How Bankruptcy Can Be Used to Fight Eviction
One of the principal benefits of bankruptcy is that it imposes an automatic stay on debt collection. If you are a residential tenant, the automatic stay puts an immediate halt to certain actions against you, including efforts to collect overdue rent. If you are at the point where you are facing eviction, filing bankruptcy may Read More
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