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They can't touch you for anything that was discharged.
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∙ 13y ago
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What type of attorney protects creditors when there is a bankruptcy?
Bankruptcy trustee.
When do you stop paying your creditors once you have retained a bankruptcy attorney?
The debtor should cease payment of creditors when they decide they are going to file for bankruptcy.
If you voluntarily have a chapter 13 bankruptcy dismissed will your creditors be notified of the dismissal?
Yes. If you voluntarily have a chapter 13 bankruptcy dismissed, your creditors will be notified of the dismissal.
Can you file for bankruptcy if you have a second mortgage?
Bankruptcy is of an individual or a corporation can not distinguish between creditors.
What is the Bankruptcy Code?
The Bankruptcy Code refers to a business filing bankruptcy. If a business is unable to pay it's debt or pay it's creditors, the business or it's creditors can file bankruptcy. Upon filing bankruptcy, the business ceases operation, a trustee sells the assets, and then gives the proceeds to it's creditors.
Do you list a landlord on the list of creditors in a bankruptcy?
You do if you owe him money. You must include ALL creditors.
Is there a sample letter to notify debtors of bankruptcy?
There are letters that attorneys use to notify creditors of a debtors bankruptcy. This letter states that the individuals have filed bankruptcy and the creditors are to cease all contact and attempts to collect their debt.
What regarding bankruptcy is not true?
Creditors must always eliminate the debt owed by the debtor when there is a bankruptcy.
Can you negotiate with creditors if you cancel a chapter 13 bankruptcy?
Sure, you can always negotiate- but your creditors are not bound to deal with you.
What protection does Chapter 11 Bankruptcy offer?
Chapter 11 is the bankruptcy code issued to a business who files for bankruptcy. This type of bankruptcy protects a business and will allow it to get running again. If a business fails and applies for chapter 7, they must sell everything and give the proceeds to creditors. A person on chapter 11 does not have to do this.
What is the initial bankruptcy hearing called?
341 MEETING OF CREDITORS
What is Chapter 1 Bankruptcy?
It is a voluntary (creditors) chapter 11
