Like selling anything else, find a buyer and agree to a price. There are many Cos that specialize in buying distressed or bankrupt debts...of course they pay very little on the dollar, and only step into the shoes of the seller....they get no more or less rights to collect.
A debtor is any person, or entity, with loans owed to a creditor. It is not a crime to fail to pay a debt. Except in certain bankruptcy situations.
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.
The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.
No. The bankruptcy is to stop anyone who has a right to collect a debt from being able to collect, called the automatic stay. If the debt is listed in the correct debt owner's (creditor's) address and it is discharged, it does not matter who owns the debt.
Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.
It depends on if the debt has been charged-off. Typicall after a debt is charged-off the original creditor has a specific time period depending on the state in which the debtor reside to file suit to obtain a judgment in order to force the repayment of the debt. If the time period mentioned above elaspes without the creditor filing suit then typically the answer would be that the debt does not need to be repaid. However, if you made partial payments to the creditor after the charge-off date you have started the clock over on that time period and the creditor get another chance. The best thing to do is contact a bankruptcy attorney for all the detail concerning the specifics of you particular situation.
The creditor is asking to be excluded from the bankruptcy. If that is granted the debt will be valid and the creditor can resume collection action.
If it is not a secured debt it will be included in the bankruptcy discharge.
Bankruptcy protection remains in place and the creditor who was denied the stay will remain a part of the bankruptcy and cannot attempt to collect the debt owed.
Yes. If they were not included then the bankruptcy doesn't apply to any debt owed to them.
The answer depends on the context. If you properly listed the debt in your bankruptcy, then the bankruptcy cour will have a proof of service showing that the creditor was notified of both the bankruptcy and the discharge. You can get those documents from the court's file and show them to the creditor or the creditor's attorney. If the creditor insists on attempting to collect the debt, you should retain an attonrey to reopen the bankruptcy and file a lawsuit called an adversary proceeding for damages and sanctions against the creditor and/or the creditor's attorney. One point that many people do not realize is that while a judgment can be discharged in bankruptcy, judgment LIENS are NOT discharged unless you file the proper motion with the bankruptcy court.
The answer depends on who the creditor is and the status of the debt. If the debt was a student loan or other non-dischargable debt, then your tax refund can be taken. If the debt WAS discharged, ANY collection action of any kind on a discharged debt is a violation of the permanent injunction of the discharge and therefore illegal. If the creditor was not included on the creditor matrix, then informing them of the bankruptcy and discharge of the debt may be all that is necessary to have the refund returned to you. In other cases it may be necessary to file a Motion for Contempt against the creditor in bankruptcy court. This would require the re-opening of the bankruptcy.