When a debtor files for bankruptcy protection from creditors, not only are debts eliminated, but so are the underlying contracts. (downriverbankruptcy.com)
In 2005, a law was changed to make it harder for people to file for bankruptcy protection from their creditors. (ocregister.com)
The creditors formally stating their claim allows the bankruptcy court to legally deal with all debts the filing debtor has listed in their bankruptcy petition for bankruptcy protection. (betterbankruptcy.com)