Tag Archive for: bankruptcy discharge

Why would a bankruptcy trustee apply to appoint legal counsel?

When you file for bankruptcy you must appear in front of a trustee, who has the responsibility of overseeing your bankruptcy. While the trustee mainly has the duty to review the bankruptcy petition, examine the debtor under oath, and oversee the payment of creditors, there are times when a trustee might actually need to hire […]

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How can filing Chapter 7 bankruptcy affect your business?

When a Chapter 7 bankruptcy is filed, an immediate hold goes on any collection activities by your creditors. In a personal bankruptcy, all dischargeable debts go away and the debtor is no longer responsible for paying the debt. A trustee sells of any non-exempt assets and pays creditors in order of their priority. For a […]

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How Does Bankruptcy Effect Your Job Search?

Does a previous Bankruptcy effect your ability to find employment? You might be surprised to discover that it is actually much more counterproductive to your job search to have negative items effecting your credit, such as repossessions, foreclosures, charged off accounts, etc., than a bankruptcy discharge.  The likely reason that prospective employers prefer bankruptcy to […]

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Reaffirmation Agreements-A necessary evil

What is a reaffirmation agreement? A reaffirmation agreement is an agreement whereby a debtor filing Chapter 7 bankruptcy makes a new promise to pay a pre-petition debt.  Since all of a petitioner’s unsecured debt is discharged in a Chapter 7 and a petitioner may surrender secured debt in a Chapter 7 bankruptcy the only way […]

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