Sentences with phrase «discharges your debts immediately»
Many people file for Chapter 13 bankruptcy because they were not eligible to file for Chapter 7 bankruptcy, which liquidates your assets to pay off creditors and discharges your debts immediately.
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The abuse consisted on filing for bankruptcy immediately after finishing college, thus getting discharged of their student debt prior to joining the workforce.
Debts which are immediately discharged under Chapter 7 Bankruptcy can include credit card debt.
Once you've decided to file for bankruptcy, you should immediately stop making payments on the debt that you plan to discharge.
Chapter 7 bankruptcy discharges consumer debt immediately.
Chapter 13 bankruptcy does not immediately discharge your unsecured debts, but it does allow you to repay your debts over a 3 or 5 year repayment period.
The automatic stay goes into effect immediately after filing bankruptcy at the Chicago bankruptcy court, and in most cases, may last during your entire case and until you receive your debt discharge.