Tag Archives: Bankruptcy filings

Should a Chapter 7 Debtor Sign a Reaffirmation Agreement?

March 14, 2014

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When you file a Chapter 7 bankruptcy, your secured creditors may ask you to sign a document called a reaffirmation agreement. A reaffirmation agreement is essentially a new contract which provides that the debtor agrees to pay all or a portion of the debt owed to the creditor, despite the bankruptcy filing. In other words, […]

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What is a preferential payment?

January 16, 2014

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When you file bankruptcy, all of your creditors are to be treated similarly. The law does not allow a debtor to “prefer” certain creditors over other creditors. Thus, payments that are made by the debtor shortly before the petition date are presumed to be preferential payments. If a payment is shown to be a preference, […]

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Does Filing Bankruptcy Impact Your Job?

January 13, 2014

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If you are considering filing for bankruptcy, you may be worried that it will result in you losing your job. Fortunately, the Bankruptcy Code prohibits an employer from firing an employee solely because he or she filed for bankruptcy protection. You may also worry about your employer finding out that you filed a Chapter 7 […]

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Protecting a Co-Debtor in a Chapter 13 Bankruptcy

January 2, 2014

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When you file a Chapter 13 bankruptcy case, you are given the benefit of the automatic stay and the “co-debtor stay.” The automatic stay prohibits creditors from taking collection efforts against you. The co-debtor stay prohibits collection efforts against the family members, friends or others who co-signed loans with you while your Chapter 13 case […]

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