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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I have negotiated a payment plan with a creditor. The note

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I have negotiated a payment plan with a creditor. The note they sent me says that I waive benefit of any exemption or insolvency laws. Does this mean if I end up having to file BK, that this wouldn't be included?

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

cfortunato :

The Bankruptcy court will not honor an agreement to not include any debt in a Bankruptcy.

Customer:

So that means that if I file, it will be discharged with other debts?

cfortunato :

This means that even if you sign an agreement waiving the right to discharge the debt in a Bankruptcy, you can still include that debt in a Bankruptcy.

cfortunato :

Yes - even if you sign that agreement, you can still include the debt in a Bankruptcy.

Customer:

Thank you. Do you happen to know the code to which this refers so I can have it for my records just in case?

cfortunato :

This fact is not in the Bankruptcy Code. It comes from the fact that the right to file a Bankruptcy is included in the US Constitution, and is therefore a Constitutional right, similar to the right to vote. No court will enforce any agreement that signs away one's Constitutional right(s).

Customer:

Makes sense, thanks.

cfortunato :

You're welcome!

cfortunato :

And please have a pleasant day!

cfortunato and 5 other Bankruptcy Law Specialists are ready to help you

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