By Jeff Field | Published December 5, 2023 | Posted in Bankruptcy | Tagged Tags: debt discharge, non-dischargeable debts, vicarious liability, willful and malicious injury | Leave a comment
Dealing With Discharge of Debts Based on Willful and Malicious Injury
Bankruptcy provides individuals and businesses with a fresh financial start by discharging or eliminating their debts. However, not all debts are eligible for discharge. One category of non-dischargeable debts are those stemming from willful and malicious injury. Creditors can challenge the discharge of such debts through an adversary proceeding, at which debtors can raise defenses Read More
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Creditors’ Meetings in Bankruptcy Cases Are Now Held Online
Soon after you file a Chapter 7 bankruptcy petition, you will be required to attend a creditors’ meeting. Its purpose is to verify the accuracy of the information in your filings and to determine if there is anything that would make you ineligible for debt relief. Creditors’ meetings —also known as Section 341 meetings — Read More
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When and How Can You Modify a Chapter 13 Plan?
Chapter 13 bankruptcy is a powerful tool for people who are struggling with insurmountable debt. It allows you to pay off your unsecured debts monthly over a period of three or five years, and at the end of your repayment plan, the remaining debts will be discharged. The size of your monthly payment is based Read More
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Ways to Quickly Start Rebuilding Your Credit Score After Chapter 7
A Chapter 7 bankruptcy can be an effective remedy for people who are struggling with overwhelming debt. A bankruptcy filing initially hurts your credit score, but once you’ve received your discharge of debt, you can start to repair your credit score. A Chapter 7 stays on your credit report for 10 years. However, the impact Read More
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What to Do – and Not Do – Before Filing for Bankruptcy
Bankruptcy is a legal process that allows individuals and businesses to discharge their debts. It can be a complex and daunting process, but it can be a lifesaver for those who are struggling to make ends meet. Like any court proceeding, a bankruptcy requires careful preparation. It’s equally important to avoid mistakes that can undercut Read More
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Pros and Cons of Debt Consolidation vs. Bankruptcy
If you are having trouble paying your creditors, you might consider either debt consolidation or bankruptcy. One of these remedies makes use of the court and lawyers (bankruptcy), while the other is entirely private (debt consolidation). The goal is the same, but the paths are distinct. Debt consolidation creates one new loan (or line of Read More
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When Can a Creditor Get Relief from the Bankruptcy Automatic Stay?
The day you file a Chapter 7 or Chapter 13 case with the bankruptcy court, an automatic stay is imposed that requires your creditors to cease their collection practices. The stay prohibits phone calls, letters, lawsuits, wage garnishments and executions on property, such as mortgage foreclosures. The court can impose penalties such as attorneys’ fees, Read More
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What Debts Can You Discharge in Chapter 13 but Not in Chapter 7?
People with unmanageable debt loads often turn to bankruptcy for relief. Most of them proceed using either Chapter 7 or Chapter 13 of the bankruptcy code, which set out different paths for discharging the individual’s debt. One notable difference is that Chapter 13 requires partial repayment of outstanding debt. However, an advantage of Chapter 13 Read More
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Using the Georgia Homestead Exemption Effectively in Bankruptcy
Bankruptcy provides a fresh financial start for people faced with insurmountable debt. Although the bankruptcy trustee has authority to seize and sell the debtor’s assets to pay off creditors, there are federal and state laws that allow debtors to keep certain property or its equivalent value. These are called exemptions, and one of the most Read More
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How Business Debt Can Exempt You From the Bankruptcy Means Test
Chapter 7 is often the preferred form of bankruptcy relief for individuals, but not everyone qualifies. Most debtors must satisfy the “means test,” which is used to demonstrate that they have insufficient income to repay any portion of their debt. However, debtors who hold a large amount of business debt are exempt from the Chapter Read More
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I had an excellent experience working with my bankruptcy attorney. From the very beginning, they were professional, knowledgeable, and compassionate. Filing bankruptcy can be overwhelming, but they took the time to explain every step of the process, ...
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