BK Mistake #2: Repaying Some Debts, Ignoring Others

Bankruptcy Mistake #2: Repaying Some Debts, Ignoring OthersThe US Bankruptcy Code is designed to protect both debtors and creditors.

Because of this, the court will not allow you to pick and choose which debts are worthy of repaying and which are not.

This means you cannot repay the loans you received from family, friends and business partners, while ignoring Macy’s, AmEx and other creditors.

If you fail to disclose all of your debt, the bankruptcy court can dismiss your case. It can also recover any money you repaid up to one year after discharge, and hit you with costly penalties.

Bottom line: Be fair to all of your creditors. Don’t attempt to defraud anyone. Your case will flow smoothly, and you will receive the debt relief you so desperately need.

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Glenn A. Brown, Esq.

Attorney Glenn Brown and the Real World Law team provides legal protection to homeowners and businesses in eminent domain and condemnation actions, commercial and residential real estate closings, and other litigation matters. If you're a property owner in need of legal protection, contact our law firm. We've two convenient office locations, serving communities in and around Upper Darby, PA and Wilmington, DE.

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