By Jeff Field | Published January 15, 2023 | Posted in Chapter 7 | Tagged Tags: debt discharge, home loan, VA loan | Leave a comment
Buying a home after filing bankruptcy can be difficult. A Chapter 7 bankruptcy filing hurts the individual’s credit rating, making it nearly impossible to borrow money immediately thereafter. The bankruptcy stays on a person’s credit report for 10 years. However, there are ways to soften the effects of bankruptcy on the ability to get new Read MoreRead More
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 MoreRead More
When a serious dispute arises in a bankruptcy case, an adversary proceeding may be started. This is a separate lawsuit in bankruptcy court that may be initiated by creditors, the debtor or the bankruptcy trustee to accomplish an objective that cannot be achieved by filing a motion. The underlying bankruptcy case will not close until Read MoreRead More
The U.S. Bankruptcy Court where you file for Chapter 7 or Chapter 13 has the power to deny your petition at any stage of your case. A judge can also prevent you from obtaining a debt discharge at the conclusion of the bankruptcy process, even for a debt that is normally considered to be dischargeable. Read MoreRead More
The idea that you need to be flat broke to seek bankruptcy protection is a misconception. The amount of money you make and the amount of debt you have are not the sole factors that determine whether or not you should file for bankruptcy. However, although there is not a minimum amount of debt required Read MoreRead More
On May 26, the U.S. Supreme Court issued a ruling in Wellness International v. Sharif, a case that will have major implications for bankruptcy law throughout the nation. The court decided Article III does not prevent judges in bankruptcy cases from issuing final judgment on claims that only attempt to augment the bankruptcy estate and Read MoreRead More
This is a very common question in many bankruptcy cases. Whether you were in a car accident or had an unexpected health emergency, if your insurance provider does not cover the entire medical care process, you are left “on the hook” for these bills. Medical bills are dischargeable in bankruptcy, even medical bills associated with Read MoreRead More
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