Legal Question in Bankruptcy in Texas
Dischargeable debts; chapter 13
My brother has 2 car notes. One is an old one he is still paying on (car wrecked) and second one is a reposession with co-signor. If he declares chapter 13 will they be discharged in full with the chapter 13? Can he keep his house (payments are current) if he keeps paying on it?
If he is sued for the car notes as the result of not paying them and if a judgement is rendered against him are those judgements also dischargeable in the bankruptcy? Would it be more wise to wait on seeing if he is sued first, then file for chapter 13 before the judgements are found against him? I appreciate your time and if there are any links which will further help me, please, advise.
thank you,
John
1 Answer from Attorneys
Re: Dischargeable debts; chapter 13
The debts would be dischargeable even if they became judgments. However, I would not wait to file. Major changes are coming in terms of amendments to the bankruptcy code that will make it more difficult to declare bankruptcy in some situations. Also, I'm not sure you have the chapters correct. I think chapter 7 is the chapter you are referring to although chapter 13 could also be used. Please feel free to call me to discuss this in more detail. ph. (214) 637-0713
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