A short, rough primer: BK is always done under Federal Laws, in a Federal Bankrutpcy Court. Basically State makes little difference. (Yes the BK Courts operating in certain areas have certain special exemptions and such, minor in the overall, generally intended to make things adhere to the local laws and customs better). In a personal bankruptcy, YOU go bankrupt. Not a debt, not a loan...not a car...not a this or that. ALL of your assets, of all types, MUST be disclosed and reported in BK, and ALL of your liabilities/debts must be too. No exceptions, no picking and choosing. They are all, always involved in some way.The court will then order each of them in priorities according to the laws. Some things may be exempt from use or discharge (like your personal furntiure and retirement accounts are exempt and child support cannot be discharged) - and the rest may be used. With one to pay the other. (All possible creditors are contacted and asked to say what they are owed....you may be required to even take advertisments out to make sure everyone is notified). Any deal you've done for several years is open to scruitiny and review. The court can reverse them, take them out of the BK, or even have them prosecuted as trying to defraud your creditors. (So, no you can't sell your boat to your brother and then declare BK). Debts secured by an asset (say a car) have first call or right to the money received from that asset. If it isn't enough to pay the debt, the remainder of that sdebt becomes a general or unsecured claim against the BK., and has a chance to payment on that level too (albeit a lower priority than those who have yet to receive anything). The end/remaining amount that can't be satisfied is generally discharged by the court...meaning you no longer owe it. You get a fresh basically debt free start....many of those you owe don't get paid what they had expected and relied on, if anything. There are many other considerations too. BK will severly hurt your ability to get credit for a very long time for example. It is on your credit report for at least 10 years...and employers refer to that too, as do landlords and more. Many do not rust people with bankruptcies in their past, especially in the last few years. Many more things. Not disclosing all items is frequently trie and easily discovered, in which case - as you are swearing under oath to the court you included all info - your case is dismissed, and regularly, fraud charges are pursued. (Courts don't take to being lied to well). The courts, Judges, laws, bankers, all those zillions of attornies, etc, have been through this thousands of times for many, many years. The processes are fairly well worked through and prepared for tricks and games. It is unlikely you would discover one that hasn't been tried a zillion times before! The Cos that claim they can change your record, or make magic happen (either before or after BK), are scams, and getting caught doing something unsavory (intentional or not), other than screwing up your bankruptcy filing, is frequently considered and persued criminally. (Think your financial troubles are bad, try adding in criminal ones). The legal process and system is demanding even for those experienced with it. Many of your creditors will have an attorney to assure they get as much as possible, even groups of lawyers, who specialize only in bankruptcy. Simply you should/better/need to have one too.
No, a creditor is required to file a claim if seeking payment, otherwise that claim is considered waived. So in this case. if there was no claim, then it was waived and the debt discharged. But even if it was filed, it would have been discharged in the business BK.
no
accumulation of debt
accumulation of debt
If it is not a secured debt it will be included in the bankruptcy discharge.
Under the new bankruptcy rules, this would be hard to impossible to do.
There is no way a judge will allow her to add a cosigned account to a bankruptcy case. Being that you may be able to pay the debt, the judge will be forced to deny the claim. However, if it does slip through, you can file suit against the court to get the bankruptcy recinded. Just to answer your question, hypothetically, if it did slip through and you could not figh it you could not sue her because the debt has already been settled as a bankruptcy. So you see how it's not possible for her to claim the account in the first place.
No. If you owe money to another base on a personal injury judgment against you then it is really not fair to that person for you to have the debt discharged in your bankruptcy proceeding. Civil settlements/judgments are in the category of nondishcargeable debts and will remain with you until you pay them!
There is a subtle difference between debt settlement and bankruptcy. Debt settlement allows a person to pay off some of their debt with their creditors. Bankruptcy claims do not result in payment of the debt. Either practice creates bad credit scores for the consumer.
Yes, but you must list all debts, not just medical debts.
No, it would be a nonpriority, unsecured debt.
No you are not, If you deglared bankruptcy, that cancels your debt