In general, a secured loan can not be cancelled, or discharged, in bankruptcy without also agreeing to surrender the property. So in general, the only way to cancel a residential mortgage is to actually give up the house. However, there Read More
Can I Reduce the Amount of My Car Loan in a Bankruptcy?
admin : November 15, 2011 8:34 pm : EducationMost of our clients are aware that they can not discharge secured loans in a Chapter 7 bankruptcy, unless they surrender the property. But what most do not know is that with certain secured loans they may be able to Read More
Some of our clients are surprised to find out that their bankruptcy proceedings can affect their inheritances, even if the inheritance comes after the discharge of the bankruptcy. That’s right, in some case, even if you receive an inheritance after Read More
Do I Need to File Bankruptcy to Stop the Foreclosure on My Home?
admin : November 15, 2011 8:30 pm : EducationWe have many clients contact us because they need to stop a foreclosure of their home, and they have been told that they need to file bankruptcy to do so. Although bankruptcy does postpone a foreclosure, it is not necessarily Read More
What Happens if I Don’t List a Creditor on my Bankruptcy Schedules?
admin : November 15, 2011 8:29 pm : EducationClients are sometimes concerned about what will happen if they don’t list a particular creditor on their bankruptcy petition. Well, there are two basic situations here: (1) one is where the client remembers, or discovers, the creditor before the discharge Read More