10 Things Every Lawyer Should Know About Bankruptcy: #3 Claims May Be Lost If Not Pursued


If you have a client who is listed as a creditor in a bankruptcy, the debt may be discharged automatically, even if it falls into one of the categories of non-dischargeable debt. If a debtor lists your client’s claim as a general unsecured claim, it could be discharged unless your client asserts his or her rights to it being classifed as non-dischargeable.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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