Easily Replace Fileds from the Bankruptcy Agreement

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How to Replace Fileds from the Bankruptcy Agreement

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good afternoon im attorney lee pearlman i want to talk to my family law friends and colleagues about how to bankruptcy proof your divorce settlement right now first let me lay a little groundwork for everyone bankruptcy code section 523 a15 i know i promise this will be the only bankruptcy code section i cite in this video simply provides that debts incurred during the course of divorce are non-dischargeable in chapter 7 and 11. but a chapter 13 is different a chapter 13 bankruptcy is more expansive so it can discharge any non-support obligations associated with divorce unlike 7 and 11. family lawyers are most at risk when they are drafting marital settlement agreements we see it all the time or court judgments that direct one spouse to pay or indemnify another spouse in the future the spouse assigning the obligation or what we say as doing the directing thats the creditor spouse this is the spouse who needs to be cautious and careful some examples of clauses that could be subject to

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Can a bankruptcy filing be reversed?

You must also keep in mind that once a bankruptcy case is filed, whether Chapter 7 or Chapter 13, it cannot be completely reversed and will appear on a credit report for 7 to 10 years whether or not the case is actually completed.

Can you change your mind about bankruptcy after filing?

Once you file for bankruptcy, you cannot simply withdraw your bankruptcy petition as if you never filed it in the first place. The bankruptcy stays on your record. However, you can withdraw from the bankruptcy process by obtaining a dismissal.

Can you file bankruptcy and then change your mind?

You do have the right to change your mind after filing bankruptcy, but this can be a lengthy and sometimes complicated process. If you filed a Chapter 7 bankruptcy, the court is more likely to dismiss your case as long as doing so wouldnt harm your creditors.

How long does it take to amend a bankruptcy?

The bankruptcy rules allow you to file an amendment to your bankruptcy forms any time before you receive your final discharge. If for some reason you need to file an amendment after your discharge, then you will have to ask permission from the court.

What not to do after filing bankruptcy?

There are certain things you cannot do after filing for bankruptcy. For example, you cant discharge debts related to recent taxes, alimony, child support, and court orders. You may also not be allowed to keep certain assets, credit cards, or bank accounts, nor can you borrow money without court approval.

Can I file bankruptcy and then cancel it?

A) Voluntary Dismissal A debtor can file a motion to voluntarily dismiss the bankruptcy case, but the court may or may not approve the dismissal depending upon the chapter number of the bankruptcy case and the prior history of the debtor in bankruptcy.

What happens if you default on a reaffirmation agreement?

A reaffirmed debt remains your personal legal obligation to pay. Your reaffirmed debt is not discharged in your bankruptcy case. That means that if you default on your reaffirmed debt after your bankruptcy case is over, your creditor may be able to take your property or your wages.

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