Bankruptcy

The Dangers of Banking with a Creditor Bank During a Bankruptcy Proceeding

By The Lancaster Law Firm / September 22, 2016
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If you are in debt and thinking of filing or have filed for bankruptcy protection, you need to stop and think about whether you owe a bank any money as a creditor. If the answer is yes, then you MUST ask yourself a second question. Do you hold any types of accounts at that bank? […]

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Emergency Petitions for Bankruptcy

By The Lancaster Law Firm / September 22, 2016
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A typical Chapter 7 or Chapter 13 petition requires you to submit well over 50 pages of documentation, including: your schedules (which includes a detailed budget, a list of all creditors including addresses and account numbers, a detailed list of assets with estimated valuations, detailed information about sales, transfers, losses and recent payments to creditors, […]

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Bankruptcy and Social Security Overpayments

By The Lancaster Law Firm / September 22, 2016
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A question we get a lot is whether Social Security disability overpayment is dischargeable in bankruptcy. The short answer to this is “yes,” a Social Security overpayment is treated like any other unsecured debt. There are exceptions to the dischargeability of a particular debt under Section 523 of the Bankruptcy Code and exceptions to the […]

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Chapter 7 Filings, Secured Debts, and Default Judgments

By The Lancaster Law Firm / September 22, 2016
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Chapter 7 bankruptcy allows you to wipe out unsecured debt– credit card bills, medical debt and other signature loans. However, secured debt–loans backed by collateral such as mortgages, car loans, or furniture, may be treated differently. Secured loans actually contain two different kinds of obligations. First, there is the obligation that you, personally, will pay […]

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