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Bankruptcy Law/bankruptcy protection loss

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Question
I had my debts discharged in Chap 7 last year. Now, because of economic reasons I want to get my loan modified on one of the debts discharged( rental property).  If approved, the bank will want me to sign an agreement to pay an old debt that has already been discharged.  Do you think I will lose my Chap 7 protection for this debt alone, if I sign the modification of the loan?

They bank told me that if the modification is approved, I won't lose my Chap 7 protection.  But why should I believe the bank.

Answer
The obligation to repay should only apply to the loan modified.  But it's a matter of reading and understanding the agreement.  There would be little point in the bank's trying to get you to waive your discharge for debts other than the one owed to it.  Still, you and perhaps someone with expertise should read it carefully.  

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Volunteer


Michael T. Hertz

Expertise

I am already listed as a volunteer under "Collections Law," but actually I am a bankruptcy lawyer. I am a member of bar in California and in Massachusetts and have practiced in bankruptcy since 1978 and have also taught bankruptcy law at the law school level (in Maine and Oregon). I can answers questions with respect to all bankruptcy chapters, having represented creditors, debtors, trustees, creditors committees, and persons involved in defending actions in bankruptcy court.

Experience

See above. Basically, 33 years of experience.

Organizations
inactive member of State Bar of California; inactive member of bar in Massachusetts; former member of bar in Maine; former conseil juridique in France.

Publications
California Bankruptcy Law Review; Georgetown Law Journal; numerous others. See my resume.

Education/Credentials
Harvard Law School, J.D.; Pomona College, B.A.

Awards and Honors
Superlawyer in Northern California, 2005 and 2006

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