The debtor in a bankruptcy case receives a notice of a discharge by mail once the discharge is completed, according to the United States Courts. The timing of the discharge depends on the type of bankruptcy case. Individual chapter 7 bankruptcies are usually discharged four months after the petition is filed with the clerk. Individual chapter 11, 12 and 13 bankruptcy cases are usually discharged after debtor payments are completed.Know More
Chapter 11, 12 and 13 cases take longer to be discharged because they are debt repayment plans, whereas a chapter 7 bankruptcy is a liquidation plan that usually requires no debts be repaid if the bankruptcy case is successfully discharged, notes the United States Courts. The United States Courts further notes that chapter 11 and 12 bankruptcies are debt restructuring plans for family farmers and fishermen, while chapter 13 bankruptcies restructure debt for individuals with regular sources of income.
Chapter 11, 12 and 13 bankruptcies take an average of four years to be discharged from the time the petition is filed with the court clerk. According to the United States Courts, a copy of the discharge is also sent to the debtor's creditors. The copy of the discharge does not specify which debts are discharged. It warns creditors that it is illegal to attempt to collect a discharged debt.Learn more about Debt Law
If it is inconvenient for a debtor to receive a debt collection call on Sunday, and the debtor has specifically told collection agents not to call on Sundays, then debt collectors are not legally allowed to call. Under the Fair Debt Collection Practices Act, debt collectors who call on Sunday after being advised not to can be held in violation of the law.Full Answer >
According to LawNY, a debt collector can repossess a car if the debt is secured. A secured debt has something that is used as collateral for the loan. In this case, the car is collateral for the loan and it may be repossessed if the loan is not paid.Full Answer >
Vehicles in California can be repossessed after a default in the contract of just one day, including a missed payment or a lapse in car insurance, according to attorney Jay S. Fleischman. Car finance companies and a registered repossession company can take away a vehicle.Full Answer >
Waiving of homestead rights is an agreement between a borrower and lender to waive the homeowner's statutory homestead rights under state law, according to US Legal. Homestead rights protect a homeowner's equity from creditors in cases of default. Typically, homestead waivers apply to residential mortgages and homeowners association contracts.Full Answer >