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Can you have a catalog account after you are discharged from bankruptcy?
A bankruptcy can not be wiped off your credit report until after 10 years but if the accounts on your credit report which were discharged in the bankruptcy can these be taken off?
The debts which were wiped out in bankruptcy still stay on your credit report, but they should be listed as "Discharged in bankruptcy." They will still stay on your credit for… 7 years (they don't get extended to 10 years like the Chapter 7 just because they were discharged in bankruptcy). Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
Will your credit report only show a discharged bankruptcy or will it also show all the accounts included in the bankruptcy?
%DETAILS%. Answer . Your credit report will show both the accounts (which were listed first) and the legal entry of the bankruptcy in the public records portion of your cr…edit report.\n. \nOnce a bankruptcy is discharged, credit grantors should update the account listing (called a trade line) and make sure that no derogatory information is showing (like past due balance or collection account notations) EXCEPT for the "included in bankruptcy" statement. This is what SHOULD happen. It's up to you to follow up and make sure that your credit report looks like it is supposed to after a bankruptcy..
Should an account discharged in bankruptcy have a status of closed and if it still says open is this hurting you?
Answer . \nIn this instance the account would generally be noted as "included in bankruptcy. The impact the open account would have is insignificant, compared to the bankru…ptcy.
Answer . \nIn a chapter 7 it is a total liquidation BK, that has been found valid and has been approved. Therefore the debtor(s) are discharged from the debt(s) that were i…ncluded in the BK. A discharged BK is not the same as a closed BK. If it is a chapter 13, it indicates that the debtor(s) have fulfilled their obligation of repaying the amount to creditors that was ordered in the BK. After the trustee's audit a chapter 13 is considered closed
If a bankruptcy was discharged on an account that was sold to another lender and the original creditor is marking it as a charge off should it be marked as bankruptcy by the original creditor?
Yes, this debt should have been marked as a bankruptcy by theoriginal creditor. It cannot be changed from a bankruptcy to adischarge unless the bankruptcy did not go through.
Answer . \nWhat is on your credit report has no bearing on opening a bank account. What is important is any reporting on Telecheck which would show whether or not you have… any fees owed to a banking institution or owe a merchant any because because you had written any checks that has not cleared.
What happens to your savings and checking accounts when filing bankruptcy if you are discharging the bank's credit card in the bankruptcy?
the banks credit card and your checking savings accounts are different. if you file bankruptcy they will check your available balance to see if you can make partial payments t…owards your creditors. only the IRS or government can freeze your accounts.
Can the court take money from a savings account that was openeded after the discharge of a chapter 7 bankruptcy?
Answer . No, Once you have a discharge its like starting over. dicharge mean its done. No other actions will take place.
Can a debt collector change the date of last activity on an account that was discharged in bankruptcy?
The debt collector cannot change the date of anything, legally. Ifthe account was discharged in bankruptcy, everything up to thefiling date is not owed any longer.
After a bankruptcy order is made the official receiver becomes the receiver and manager of the bankrupt's estate. The estate is administered by a trustee in bankruptcy who may… be either a qualified insolvency practitioner or the official receiver. On his appointment the debtor's estate vests automatically in the trustee who is then responsible for the administration of the estate. The estate is made up of all of the bankrupt's assets and the bankrupt is usually automatically discharged after three years except in certain circumstances.\n. \n Answer \n. \n Exemptions under Federal law, which may change a little in State applications by the Federal BK Court you file in: Personal and Real Property: . (1) Household: Up to $425.00 per item not to exceed a total of $8,625.00 (includes animals, appliances, books, crops, furnishings, household goods, clothing, musical instruments). (2) Jewelry: Up to $1,075.00. (3) Vehicles: Up to $2,575.00. (4) Work tools (implements, books and tools of trade): Up to $1,625.00. (5) Health aides (wheelchair, etc.): Unlimited. (6) Burial plot: Up to $16,500.00 (in lieu of real estate exemption). (7) Real estate (house, co-op or mobile home): Up to $16,150.00. (8) Any property: Up to $8,075.00 of unused portion of real estate exemption. Wages, Pensions, Recoveries and Benefits: . (1) Wages: None. (2) Wrongful death funds: Amount needed for support. (3) Personal injury funds: Up to $16,500.00 (excluding that for pain and suffering or pecuniary loss). (4) Lost earnings payments: Unlimited amount. (5) Retirement benefits: Amount needed for support. (6) Alimony / child support: Amount needed for support. (7) Unemployment compensation: Unlimited amount. (8) Veterans benefits: Unlimited amount. (9) Social security benefits: Unlimited amount. (10) Public assistance: Unlimited amount. (11) Crime victims compensation: Unlimited amount. Insurance: . (1) Disability: Unlimited amount. (2) Unemployment benefits: Unlimited amount. (3) Unmatured life insurance: Unlimited amount. (4) Life insurance policy loan value, dividends or interest: Up to $8,625. \n. \n(5) Life insurance proceeds: Amount needed for support \n. \nIf you're doing a Chapter 7 bankruptcy, you can't discharge:\n. \n . Taxes and tax liens\n . Student loans\n . Domestic support obligations (child support and alimony)\n . Luxury goods over $500 purchased within 90 days of filing\n . Fines or penalties of government agencies\n . Cash advances of more than $750 taken within 70 days of filing\n . Fraudulent debts\n . Willful or malicious injury to another\n . Death or personal injury from the operation of a motor vehicle, aircraft or vessel while intoxicated\n . Condominium or cooperative association fees\n . Debts not listed on your schedules\n . \nDebts arising from fraud or maliciousness are not automatically excepted from discharge. The creditor must make a request to the court to except these types of obligations; otherwise they will be discharged.
Under the Bankrputcy Abuse and Consumer Protection Act of 1995, an eight year period must go by before a person is allowed to file for chapter 7 bankruptcy again.
If an account was not listed on the creditor's list of a chapter 7 is it still dischargable under the bankruptcy?
Yes it is. The presumption of bankruptcy is that all of the bills that were owed will be discharged at the time. If for a reason the bill that wasnt listed came up it can stil…l be discharged by the court. Your attorney can file an addendum for this with the court after wards.
Any debt that you accumulate before your bankruptcy filing and have listed on your petition will be eliminated when you receive your discharge as long as your creditors do not… file an injunction against you. After you receive your discharge you are welcome and able to open new credit accounts but any debt you accumulate will not be considered a part of the bankruptcy you filed before opening the account.
The accounts that you discharged in bankruptcy should no longer show on your credit report after 1 year?
The accounts can remain up to seven years after the last payment was made, but will show a zero balance due to a bankruptcy filing.
Can you refinance a vehicle not included in a bankruptcy but owned by a credit union that had another account discharged?
If the vehicle is owned by someone else (the credit union) then it is not yours to raise finance on.
After discharge is too late. The good news is you are exempted for 1 car as long as it's not outrageously valuable. If you can no longer afford do a voluntary repo. the car is… the loans security & once they have they cannot do much. They will auction & try to recover anything they were unable to recoup with the sale. It will still drop off your report before the bankruptcy & I don't think they can get a judgment if you surrendered the car. If you had a preparer for filing, seek advice as far as your best way to go, since states not all the same.