Rollingwood, TX Bankruptcy Law Firms & Lawyers

If you are in Chapter 7, there is no Plan. A Plan is part of a Chapter 11, a Chapter 12 and a Chapter 13, but not in a Chapter 7. If you file Chapter 7, you may be eligible to convert to a Chapter 13 and propose a Plan. The details of your budget will determine whether or not this is an appropriate choice.

It really depends on whether the debt is yours solely, or are your parents cosigners, named on any credit cards, or any other arrangement where your parents agree to guarantee the loan. A loan is a contract where one party agrees to give money at a certain time, and the other party agrees to repay the loan at a later date.  The contract can only involve the parties in interest.  As such, a creditor can only collect from the party or parties that acquire the debt.  If your parents were involved in the acquiring of the debt, then they may be held responsible for repayment.  If your parents did not help in acquiring the debt then they should not be help responsible.   This is not intended to be legal advice, and is general in its nature.  No attorney-client relationship exists or is formed by this information.  Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.

You have to amend schedules d, e or f depending on the type of creditor, d is for secured, e is for priority unsecured (taxes, alimony etc.) And f is for general unsecured.