If you have secured debt, such as a home or car that you want to keep, you may be able to keep the property in a Chapter 7 bankruptcy by continuing to pay for the property according to the contract and using reaffirmation agreements. This means that you agree to keep making payments as [...]
Secured debts are those where the creditor has a security interest in property. Normally, a security interest is obtained in writing, such as a deed of trust on a home, or by taking a lien against a car title. Sometimes, security interests arise when a seller finances the item, such as jewelry purchased at a [...]
Bankruptcy cannot wipe out child support, certain back taxes, criminal fines, and most student loans. Bankruptcy cannot do away with the payment of most secured debt unless the debtor is willing to pay for the property, although you may be able to catch up over time, lower the monthly payment, reduce the interest rate, [...]