Can a bankruptcy court cancel a promissory note?
Yes. If your debts are successfully discharged in bankruptcy, then your outstanding promissory notes that deal with your current loan obligations are effectively cancelled by the bankruptcy …
more
What Is A Discharge?
The discharge order is issued by the court and permanently prohibits creditors from taking action to collect dischargeable debts against the debtor personally; this does not prevent secured …
more
What is the Difference Between a Chapter 7 and a Chapter 13 Bankruptcy?
After you have decided to file for bankruptcy, you may have to choose between the two types of bankruptcy proceedings that are available for individuals – Chapter 7 bankruptcy and Chapter 13 bankruptcy – depending on your eligibility for each. Deciding which type of bankruptcy is right for you is an important choice, because the type will determine whether you have to pay back at …
more
Is There Anything I Can Do About My Debts to Avoid Filing Bankruptcy?
There are a number of steps that you can take in order to avoid bankruptcy proceedings. If you find yourself falling behind on your credit card, car loan, and/or mortgage payments, you may want to take some immediate steps so as to avoid filing bankruptcy on these debts. First, many people are overwhelmed by credit card debts. Never mind how you got yourself in over your …
more