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TMcJD
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Category: Bankruptcy Law
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Experience:  Bankruptcy Attorney
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My mortgage co., GMAC, has filed for Chapter 11. I received

Resolved Question:

My mortgage co., GMAC, has filed for Chapter 11. I received in the mail a paper with terms which stated "Confirmation of a Chapter 11 plan may result in a discharge of debts, which may include all or part of your debt. See Bankruptcy Code 1141(d). Is there a chance I can file for a discharge of my debts through my GMAC accounts?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  TMcJD replied 2 years ago.

Hello, I will be happy to assist you with your question. I am a real attorney and strive to provide the most professional service possible. However, I cannot provide legal advice – I can only give you information concerning the legal issues raised by your question. After reviewing your answer, please let me know if you need clarification (or if I misunderstood and didn’t address your question).

Unfortunately you cannot discharge your debts.

Bankruptcy allows the debtor that has filed bankruptcy to discharge debts. In this case, GMAC will generally receive a discharge of its debts owed prior to confirmation of the plan unless the plan or order confirming the plan specifies that a certain debt is not discharged. That is what 1141(d) states.

That discharge, however, does not apply to debts that you owe GMAC -- only debts that GMAC owes to others.

As noted above, if you need clarification, please do let me know.

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TMcJD, Attorney
Category: Bankruptcy Law
Satisfied Customers: 6513
Experience: Bankruptcy Attorney
TMcJD and other Bankruptcy Law Specialists are ready to help you

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