Your bankruptcy case will make much more sense if you know the roles of the people involved, starting with debtor, creditors, and clerk. The Debtor This is the “person” filing the bankruptcy case. An individual can file a case, as can a married couple. The ... Read More »
Chapter 7 and Chapter 13–Personal Property as Purchased Collateral
How does bankruptcy treat something you bought—furniture, an appliance, or some electronics—when that thing is collateral on a debt? In our last couple blog posts we compared how Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts” each deal ... Read More »
Making Sense of Bankruptcy: How Does Chapter 7 Handle the Collateral Securing My Debts?
When you file a Chapter 7 "straight bankruptcy" case you can keep and pay for collateral or return it and not pay the debt. Here’s today’s sentence that we’re explaining to help make sense of bankruptcy: If a debt is truly secured by collateral you usually have the option of ... Read More »
