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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17248
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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We are presented with a $70K settlement deal after mediation.

Customer Question

We are presented with a $70K settlement deal after mediation. We are considering ch11/363 deal rather than paying the $70K. What happens when we accepted their deal but change our mind later. We are tied with a deadline tomorrow but want to meet with a bk lawyer before making the jump.
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 3 years ago.


you would still be able to file bankruptcy on the debt even if you made a settlement,


a creditor cannot make the debt binding on you if you file a bankruptcy.

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