On the Eve of Bankruptcy, Replacing Non-Dischargeable Debt With Loans Is Tempting…
Thursday, July 9th, 2009But you must resist!
You’ve caught on to the fact that certain kinds of debts are “better than others.” Knowledge is a good thing, but don’t get confident that you’ll be able to pull a fast one by trading off a non-dischargeable debt for a dischargeable one. The consequences simply aren’t worth it. Here again is another great reason to count on an experienced bankruptcy attorney when filing your case; he will help you act strategically to maximize the benefits of bankruptcy while helping you avoid the pitfalls and mistakes.
Most loans are unsecured and will thus be discharged altogether in most Chapter 7 cases, and discharged after successful completion of the payment plan in a Chapter 13 bankruptcy.…