In this episode of Community Banker we discuss the issue of bankruptcy and what to do when one lands on your desk.
The goal of the bankruptcy laws is to give honest debtors a financial “fresh start” from burdensome debts, which is accomplished through the bankruptcy discharge. The discharge frees debtors from personal liability for specific debts and forbids creditors from ever taking any action against the debtor to collect those debts.
To continue reading this issue, click here.
To read past issues of Community Banker, check out our newsletter archive.
The Community Banker is prepared by attorneys at Olson & Burns P.C. to provide information pertaining to legal developments affecting the field of banking. In order to accomplish this objective, we welcome any comments our readers have regarding the content and format of this publication. Please address your comments to firstname.lastname@example.org.