What Debt's are discharged in Bankruptcy?

 

The first thing to understand is the word discharged. This is the legal order from the Court that releases the debtor from their responsibility to pay back the debts they promised to pay before bankruptcy. For example, if you get a credit card from any bank or credit card company, you are required to sign a promissory note. This promissory note is a contract between you and the lender that you will pay back the money you borrow or the lender can sue you and potentially take personal property if you default or fail to pay.

 

 

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February 5, 2016

“Transmuting” – It is not bringing the dead to life or shape-morphing aliens in some B movie, In the context of property and divorce however, it can be just as scary and with real-world consequences.

 

During a free initial consultation in my office, I was speaking with...

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Disclosure: The information on this website is for educational purposes only and is expressly not intended to be considered legal advice. Our free consultation is limited to understanding the nature of a potential client's issue, informing the potential client if the Milton Law Firm would consider representing the potential client in connection with the matter, and under what terms and conditions the Milton Law Firm would represent the potential client. Before the Milton Law Firm can provide legal advice to any person or entity, there must be a signed fee agreement setting forth the firm's scope of representation and the fees that will be charged.

 

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