The following article is by an attorney with an Austin criminal law firm.
It is not intended to be an exhaustive list of all legal issues that are involved in bankruptcy and is intended to provide a general overview of the process.
A lawyer will need to negotiate and negotiate with various creditors, including the court, before making a payment plan.
The following is a general outline of the bankruptcy process: 1.
What is bankruptcy?
What does it mean?
What can I sue over?
Indemnity: A lawyer can seek damages from a debtor if the lawyer is not paid the money owed.
Debtors’ assets: A debtor’s assets can include personal property, savings, or any assets that may have been borrowed.
If the debtor cannot pay, the lawyer can file for bankruptcy and collect on the debtor’s debts.
Liabilities: A creditor can file a lawsuit against a lawyer for damages if he or she cannot collect on a debt.
A creditor must show that the lawyer has violated a duty to protect the creditor.
The creditor can only collect on debts if the debtor agrees.
If a creditor files a lawsuit, the creditor must give notice of the lawsuit and the debtor must pay the lawyer.
If he or her attorney refuses to pay, a lawsuit can be filed in court.
Repayment: If the debt is paid, the court will refund the money to the lawyer if he/she is not able to pay the money within 60 days.
If it is not, the debt must be paid by a creditor within 60 working days after the notice to the debtor is given.
The debtor can still have to pay other amounts.
The court will decide whether the debtor owes back money and if so, how much.
Interest: The court can award interest on the debt if the court determines that the debtor did not pay the amount due.
If interest is awarded, the interest is interest on all debts the debtor owed before the payment.
The interest is payable at a fixed rate.
Interest is not payable in arrears.
Interest on a loan must be repaid in full within two years.
Repossessions: If a debtor has not paid all the money the court owes to the bank, the lender can repossess the debtor if there is a repossession order in place.
A repossession will be considered when the debt collector files the debt collection action.
Debt Collection: If it has not been paid, a debt collector can file the collection action against a debtor.
If no judgment is rendered on the collection, the debtor can ask the court to order the collection of the debt.
The debt collector will have to prove that it can collect the debt, that the collection is reasonable and that the debt does not have an undue burden on the creditor’s ability to meet the debtor.
The collection of a debt may be made in person or by electronic means.
A collection order may require the debtor to pay court costs and fees, but not attorney fees.
If there is an outstanding debt, the collection may not take more than 60 days to be paid.
The default judgment may be enforced by a debt collection agency.
If payment is not made within 60 or 90 days, the default judgment will be enforced and the debt will be collected.
Default Judgment: If there are no judgments, the judgment will become final and the person will have the right to file for a new judgment, if he wants one.
The judgment may include a requirement that the person file a motion for modification or stay of the judgment.
A stay may be requested to allow time for the person to negotiate with the debt collectors and the court.
A person who files for a stay can also file a petition to have the judgment modified.
If any of the above is not accomplished, the person may ask the judge to modify the judgment or file for an order that the judgment be modified.
The judge will have no authority to modify or stay the judgment except by order of the court or if the judgment is in default.
If modification is requested, the judge will consider the petition and determine if the petition is timely and adequate.
The order may include instructions for the debtor on how to pay and collect the judgment and may include provisions for a default judgment to be served.
How can I know if I am a creditor and what rights I have?
If I am in debt, who owes me money?
If creditors are creditors, who can I seek help from?
What if I owe money to someone else?
Who can I call if I need help?
Can I contact the debt relief agency?
What are the rules for the debt recovery process?
What happens if I do not make a payment?
How do I get