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 …
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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 …
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Will Filing for Bankruptcy Get Rid of All My Debts?
Many people think that if they simply file Chapter 7 bankruptcy, then they will get rid of all of their debts. Unfortunately, this is not the case. There are some types of debts that cannot be discharged in bankruptcy by law. This means that even if you complete bankruptcy proceedings, you still have to pay back these debts. These debts include child support, alimony, …
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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 …
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