Secured proeprty and CHapter 7 Bankruptcy in Kentucky

What Can’t A Debt Discharge Do

Debt Discharge

The purpose of filing bankruptcy is normally to discharge as many dischargable debts. However, not all debts are dischargable. Such as student loans and maintenance. Or, if you decide to reaffirm a debt then it will survive the discharge.

Can My Property Still Be Taken If I Get A Chapter 7 Bankruptcy Discharge?

Yes.  Secured creditors may retain some rights to seize property securing an underlying debt even after a discharge is granted. If the property, like a car, was financed and the creditor took a security interest in the property, if money is still owed on the property then it is subject to repossession.

If you want to keep secured property after a Chapter 7 Bankruptcy you need to speak with a Bankruptcy lawyer about a reaffirmation.

If you are considering filing for bankruptcy you should contact a bankruptcy attorney to help you explore your options. If you have questions about what bankruptcy and a discharge of debt through bankruptcy contact Rebecca Hurst of Hurst & Hurst Law at (859) 209-2101.

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