my mother is wanting to payoff my bankruptcy. how do i go about doing this
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my mother is wanting to payoff my bankruptcy. how do i go about doing this
Asked on May 13, 2009 under Bankruptcy Law, Kentucky
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
If you have remaining obligations flowing from an existing bankruptcy, she could pay the creditors directly. Depending on when you filed for bankruptcy it MIGHT be possible to withdraw the filing and work out some deal with the creditors. Indeed, if you did not file yet, it would be best if a lawyer could work out a deal with the creditors now.
However, to work out a deal on favorable terms and maneuver through what would be complicated proceedings, her first step should be to speak to a lawyer and get you legal representation. Any creditor recognizing that Mom is prepared to pay 100 cents on the dollar will demand 100 cents; a creditor faced with getting nothing to 10 cents on the dollar in bankruptcy would be thrilled with 15 cents on the dollar. You'll also want to find out if the debts you have are in fact dischargeable.
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