Bankruptcy does not discharge a creditor’s lien on property. Even if you file bankruptcy a secured creditor is entitled to receive either the collateral or payment on the loan. In a Chapter 7 case, if you want to keep the property, you may either choose to reaffirm the debt or to redeem the property by paying its fair market value. Reaffirming a debt means that you sign and file a legally enforceable document with the court, which states that you promise to repay all, or a portion of the debt. If you reaffirm a debt and fail to make the required payments, the creditor can recover the secured property and you would still owe any remaining debt. If you do not want to keep the property, you can return it to the creditor and not have to repay the debt. Redeeming a debt means you must pay the value of the property to the creditor in one lump sum payment.
Schedule A Consultation
HSQ attorney’s Megan Quillen and Keith Slocum attended Bankruptcy Bootcamp at Nashville School of Law in July 2017. The intensive bankruptcy sessions were lead by Chapter 13 Trustee Hank Hildebrand, a leading bankruptcy expert in middle Tennessee. Six classes were held over six weeks and covered advanced strategies in managing bankruptcy cases. “Our firm, Harlan
Certified Bankruptcy Specialist Keith Slocum was honored with the Appellant Award at the NACBA 2017 National Convention in Orlando, Florida on May 4, 2017. Slocum was recognized for his efforts in overturning a bankruptcy court judge’s decision against his client that he appealed in district court. The case has been continued back to the bankruptcy
HSQ attorney Keith Slocum attended the National Association of Consumer Bankruptcy Attorney’s (NACBA) Annual Convention held May 3-5, 2017 in Orlando, Florida. Slocum also attended a pre-conference intensive workshop on student loan debt. The daylong session dealt with the different types of student loans, student loan programs and their respective implications in bankruptcy. “The financial