What if certain debts are not discharged?
Hi, this is my first time here. I am in desperate need of good, true advice/information. Currently my parents are going through BK. They just filed and had their meeting with the creditors. The lawyer, who I thought was a bit cooky and unprofessional told us that already letters have come back from creditors seeking payment. What happened was, there were some cash advances and balance transfers made about 3 months before filing. The lawyer told us that if we wait 3 months, then they cannot come after us. Now when I ask him about that, he rephrases and tells me that he meant that they cannot automatically claim it. I'm very upset because what could have been a smooth process it turning out to be a nightmare. They do not have any money to pay the creditors and that's why they claimed BK. Then the lawyer said that if we don't have the money to pay, we simply don't pay and then they will sue my parents and have judgement on them. I don't understand that or what a judgement is, can someone please explain to me and what my parents can expect if they cannot pay these creditors and also what is the worst a judgement can do to you? Also, any alternatives, like filing for ch 13 as well? PLEASE HELP!
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what about student loans
If I have 40K in student loans and file a chapter 7....what is written off...if anything -
Sorry to say, None of it. Students loans are entirely excepted from discharge in BK.Originally posted by ThatchthisComment
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Can someone please answer my question?
I didn't have anyone answer of my concerns. Can anyone help?Comment
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