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The Vital Role Played by Contracts in Bankruptcy Law

An executory contract allows a debtor to slowly pay off his or her debt obligations through smaller installments that are easier to manage. These contracts most often outline a payment plan for large assets such as land, houses, and cars.

In this video, you will learn how a lender decides to accept the terms of an executory contract. To find out details about the debtor’s financial circumstances, a meeting will take place between both parties. In this meeting, the lender will ask some questions about the debtor’s current assets, income, and debt obligations.


Hiring an experienced bankruptcy attorney can help you navigate this important legal process. To speak with the legal team at Cutler & Associates, Ltd., call (847) 849-1834.

More from Cutler & Associates, Ltd.: Executory Contract, bankruptcy attorney, Cutler & Associates

Categories: Bankruptcy Blog

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