Also, if a lender incorporates a lien on an asset such as a motor vehicle or dwelling, the lien stays even if the personal debt is discharged. That is certainly, the filer doesn’t need to pay back the debt, though the lender can seize the asset that secured the bank loan.
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For example, for those who lease out residence soon after filing for bankruptcy, the
That’s various in the much more Intense Chapter seven filing, which liquidates non-exempt belongings and works by using that cash to pay your creditors.
Chat with certified attorneys until eventually you’re satisfied. About any legal concern—from massive to compact, an