Friday, May 26, 2017
What Do I Still Have To Pay For After Bankruptcy?
Filing for bankruptcy is a good way to get rid of your debts, or at least pay less for some of your property. When you file a case and obtain a discharge, the debts included in that discharge are no longer considered due. That means your lenders cannot call you and ask for payment, and they cannot sue you for the balance. But there will be some things that you will still have to pay for, even after your case is finished. This is because you do have to make payments for pieces of collateral that you wish to keep. Every case is different and you may decide to give up certain things while keeping others, that other people who file a case do not agree to surrender. That said, there are some common items that most everyone decides to hang on to, and thus still make the payments on after bankruptcy.
Typically, people decide to keep these things and still pay for them even after their bankruptcy case is over:
• Their car or motorcycle.
• Their house.
• A boat or ATV.
Most people do not elect to continue to pay for a credit card or other unsecured/signature loan debt. So when you no longer have to pay high interest rate credit cards, you are in a better position to make the payments on your car. This is the design of bankruptcy; to give you a fresh financial start so you can maintain a decent standard of living by having the basics covered. Rather than continue to struggle to pay all of your bills each month, call us for help. We will let you know what to expect if you decide to file for bankruptcy, so you can be comfortable with your decision. In the vast majority of cases you only have to go to Court one time, and we will prepare you for that appearance so you are not nervous. We know what steps to take to make sure your case is filed right, and that you get the most benefit out of having decided to take charge of your finances by filing bankruptcy.
If you have more questions about the bankruptcy discharge and what debts will still have to be paid after your case is over, contact us today at www.law-ri.com. We will help you come up with solutions that work for your family, and have multiple locations where we schedule appointments so you can make a choice that is convenient for you.