Some debt stays with you no matter what… The list below sets out the most common types of debt which are not dischargeable under a Chapter 7 bankruptcy filing, with each type requiring a thorough examination in light of your particular financial circumstances.  The information provided here is to be viewed as a general overview which may…

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What happens if I don’t sign a reaffirmation agreement on a secured debt? Typically when a debtor does not sign a reaffirmation agreement for a mortgage in a Chapter 7 bankruptcy, the creditor will not repossess the property as long as the debtor continues to make payments.  However, the creditor will cease sending monthly billing statements…

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  How often can I receive a discharge of debts through bankruptcy? Although you can file bankruptcy as many times as you want, you can only obtain a discharge – wiping your debts away – periodically based on what chapter you have filed. CHAPTER 7:  If you have received a discharge in a Chapter 7…

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Lien Stripping in Chapter 13 : Is it For You? The process known as lien stripping is the opportunity to strip an unsecured second or third mortgage, or home equity line of credit from real property, and is one of the most beneficial aspects of filing a chapter 13 bankruptcy, as opposed to a chapter 7,…

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Good News – Rebuilding Credit is Possible in as Little as 2 Years! Maybe you have heard it before – filing for bankruptcy ruins your credit and don’t even think about rebuilding credit for at least ten years.  This is false and perhaps the most popular myth about filing bankruptcy.  Credit card companies, debt consolidation companies and others, all…

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Most Debtors Keep Property in Bankruptcy – Call for a free consult, (937) 318-1529 A debtor may retain and redeem certain secured personal and household property, such as household furniture, appliances and goods, wearing apparel, and tools of trade, without payment to the secured creditor, if the property is exempt and if the mortgage or…

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Is It Time To File for Chapter 7 Bankruptcy Protection? Generally, the following persons are not eligible for a Chapter 7 discharge: A person who has been granted a discharge in a Ch. 7 case filed within the last 8 years. A person who has been granted a discharge in a Ch. 13 case filed within…

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  The Creatures of the Court and Tales of Discharge –  Bankruptcy Myths Debunked No area of law is more fraught with myths than bankruptcy law.  When you are considering filing you will hear all kinds of information which is half-true, misleading or outright false.  Like a mythical mermaid which some say lure a sailor to…

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Obtain Financial Peace of Mind Through Bankruptcy I do what I do because I love hearing a relieved client tell me that they are finally going to be able to sleep at night, or feel as if they are 20 pounds lighter.  Another favorite is the client who tells me they are able to eat…

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Discharging Student Loans: Undue Hardship Generally, student loans are not dischargeable in bankruptcy; one of the few debts that categorically remain with a debtor once they have completed their bankruptcy.   In the past, some privately funded education loans could be discharged under Chapter 7 bankruptcy.  However, with the change of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the definition of a non-dischargeable…

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