Archive for January 2024

A reaffirmation agreement is a voluntary agreement that allows a borrower to hold on to certain types of debts that might otherwise have been discharged in bankruptcy. For example, if you are filing Chapter 7 and wish to keep a house or a car for which you don’t have much equity, you may use a…

When you file for bankruptcy, you gain protection under the “automatic stay,” which protects you from your creditors during the bankruptcy process. The automatic stay brings all collection efforts to a screeching halt. These include: Phone calls Letters Lawsuits Wage garnishments Repossession Foreclosure In most cases, the automatic stay remains active throughout the life of…