article thumbnail

Appeals Court Partially Reverses Dismissal of FDCPA Case Over Consumer Status and Debt Definition

Account Recovery

The plaintiff, who had previously filed for Chapter 7 bankruptcy, had received a discharge order. The ruling emphasized that a bankruptcy discharge eliminates personal liability but does not extinguish a creditors right to enforce a lien on property. Read the ruling.

article thumbnail

Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is a liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets.