As part of the bankruptcy process, you must include all secured, unsecured, priority, and nonpriority debts, regardless of whether the property securing the debt is considered essential for your livelihood; this is the case for both Chapter 7 and Chapter 13 bankruptcy. Read the full article here: [ Ссылка ]
We're assuming that those filing Chapter 13 are doing so because they can afford the new payment plan and wish to keep some or all of their personal property. But what if you're filing Chapter 7 bankruptcy and you don't want to lose your home or car? Enter the reaffirmation agreement.
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This video will discuss the purpose and permanency of reaffirmation agreements in Illinois bankruptcy. We will answer the following questions: What is the purpose of a reaffirmation agreement?, Is a reaffirmation agreement permanent?, Is there a deadline for canceling a reaffirmation agreement?, What is the process for backing out of a reaffirmation agreement?, and Why would I want to rescind a reaffirmation agreement?
