What Does ORAP Mean In Bankruptcy?

: Reese Baker & Associates

  Filed under: Bankruptcy Information, Filing bankruptcy

bankruptcy attorney houston, texas bankruptcy lawyers, attorney, lawyer, attorneys, lawyers, College Station, Bryan, Houston, Texas, TX, lawyers in houston, bankruptcy attorney,When you’re dealing with a bankruptcy you are going to be exposed to a lot of different terms. You are most likely facing a variety of different ways in which creditors are trying to collect their money that you owe them. There is a procedure called order for appearance and examination of the judgment debtor or ORAP that can be quite helpful in knowing what to expect in a bankruptcy proceeding.

What the ORAP entails is that you as the debtor will have to appear in court to answer questions in regards to what assets are available to pay this judgment. When this ORAP is put into place it’s an automatic lien against all of your personal property that stays in effect for one year.

This can create some uncertainties when it comes to your going bankrupt and how this ORAP lien will be handled. This is just one form of action that a potential creditor can take against you. If you are in a situation where you can no longer handle your debt then your best recourse may be to file for bankruptcy.

It is important that you seek out a qualified bankruptcy attorney to assist you with this. At your initial meeting you can discuss all of the creditors and the actions that they are taking against you and also this ORAP if it happens to be in effect. This professional will know how this will be dealt with during your bankruptcy action. Bankruptcy is a great form of debt relief and a opportunity to get a fresh start so you can get out from under that mountain of debt that is been plaguing you for so long.