Debt Relief
The bankruptcy code was created to provide debt relief to those who have run into financial difficulties and either need a fresh start or time to pay off their current debts. Debt relief is provided by the bankruptcy process but it does not come without strings. A bankruptcy filing will stay on your credit record for up to 10 years, as well, not all debts are eligible to be expunged through bankruptcy. You may be in need of debt relief but before you discard other options you should discuss with a bankruptcy attorney your specific debts.
For assistance with your case, click here to find Debt Relief Attorneys near you or find an attorney in a different state.
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Frequently Asked Questions
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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 -
Can you declare bankruptcy on a Small Business Administration (SBA) loan?
While the common perception is that you cannot discharge government loans in bankruptcy, in reality, many such loans can be discharged in bankruptcy. The Small Business Administration (SBA) … more
Legal Articles
- 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, … more - How to File Bankruptcy
Sometimes bankruptcy is inevitable. You understand the consequences of filing bankruptcy and have decided that bankruptcy makes the most sense for your future. So, how do you go about taking the next step and filing for bankruptcy? Consider Hiring an Attorney Many people decide to hire a bankruptcy attorney prior to formally filing for bankruptcy. In most cases, this is … more
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