The Bankruptcy Discharge Explained

The bankruptcy discharge is a court order that eliminates your debts in a chapter 7 or chapter 13. The discharge order also serves as an injunction to prohibit creditors from collecting on debts that have been discharged.

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Chapter 13 payment plan

Your chapter 13 payment plan is a plan proposed to the court, your creditors and the chapter 13 trustee to repay all or part of your debts over time. When understanding the chapter 13 payment plan, it is important to note that the plan has many requirements.

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Chapter 13 Bankruptcy Debt Limit

A Chapter 13 Bankruptcy is a useful tool to pay back mortgage and vehicle arrears, strip liens, cramdown a vehicle and pay back a percentage of your debts. It allows you to have a 3-5 year payment to pay back secured debts and often results in paying a small percentage of unsecured debts.

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Bankruptcy and Divorce in Maryland

The question about how a bankruptcy affects a divorce and vice versa touches upon many considerations in both divorce and bankruptcy planning, and both spouses can benefit from taking time to plan for these contingencies

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Bankruptcy Credit Counseling & Financial Management

In 2005, Congress enacted the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). One of the major changes that BAPCPA made was that consumers who file for bankruptcy must take two courses – a credit counseling course and a debtor education course.

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