Bankruptcy FAQs
Can I keep some creditors?
Yes, but you have to list all your creditors. You need to reaffirm with your
secured creditors in order to keep your car and house. Reaffirm means continue to pay according to the contract.
Redeem means pay the value of the collateral, not the contract balance. The
catch is it must be paid within 30 days of the order allowing redemption, and
the price is retail. You
may have to refinance. I can help find a lender.
If you want to pay a relative, a favorite doctor, or local creditors; you may
pay them after the bankruptcy. You still must list them by law. The bankruptcy
discharge will prevent them from suing you while you are getting ready to pay
them. |
