Category Archives: Chapter 7 Bankruptcy
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One of the reasons so many people find themselves drowning in debt, feeling helpless and as though they’ll never get out from under is that they resist pursuing bankruptcy far longer than they should. There is a stigma attached to the very word “bankruptcy,” making many feel as though avoiding it at all costs is… Read More »
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A previous blog published in August 2013 re-visited the important role of exemptions in a Chapter 7 case of shielding certain property from the trustee and creditors so that the property (in this case, the stream of income from an annuity) will be available for a debtor’s “fresh start”. In Silliman v. Cassell, the property the debtor wished to shield… Read More »
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Once a Chapter 7 bankruptcy is filed, all collection efforts and activities must stop because of the bankruptcy’s automatic stay. But, it’s important to know that the Chapter 7 automatic stay does not extend to your cosigners. Therefore, your creditors are free to pursue them in an effort to collect the debt. Fortunately, if you… Read More »