Chapter 7 Bankruptcy Facts

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chapter 7 bankruptcy facts


Does Dean Foods have unfair advantage?
A federal antitrust suit filed in January alleges that Dean, a Dallas-based company with some 27,000 employees, now has too much control over milk pricing and supply, a position that squashes market competition.


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How to File for Chapter 7 Bankruptcy


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Find debt relief by filing bankruptcy with this all-in-one-book If you have more debt than you can possibly pay off, the bankruptcy system is there to help — and with How to File for Chapter 7 Bankruptcy, you’ll find the clear and user-friendly information, advice and forms you need to get through the entire process. First, the book will help you determine whether you qualify for Chapter 7 — and whether it is the best way to deal with your debts. Then you’ll find out how to: stop wage garnishments and attachments fill out and file all the forms cancel as much debt as possible deal with secured debts keep the maximum amount of property keep your home, if possible rebuild credit after bankruptcy The 16th edition is revised to include the most recent forms and figures, changes to state exemption laws (which determine what property bankruptcy filers may keep), and the latest court decisions. Please note: This book does not cover business bankruptcies, farm reorganizations or individual repayment plans (Chapter 13). For Chapter 13 bankruptcy, see Nolo’s Chapter 13 Bankruptcy.

chapter 7 bankruptcy facts
Filed bankruptcy but continued paying on the auto loan?


A friend filed Chapter 7 in 2005 and told the attorney that he wanted to keep his car and continue paying on it. The attorney did not mention reaffirmation. In fact the 1st he heard that word was in 2006 when the Car Company said since he didn’t file a reaffirmation would he like to continue with his payment plan. He never missed a payment before, during or after the bankruptcy. In fact he refinanced with the company in August 2008 and is current. However, his credit report states his original loan was derogatory. How does he go about getting this changed?

Short answer, you don’t.

When people file bankruptcy and do not sign reaffirmation agreements the lenders report that the accounts were included in bankruptcy.

I went through this back in 2001 and did sign and called and made sure that my lender continued to report my payments but without this agreement there is nothing your friend can do his lawyer gave him bad advice.

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