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Is it safe to rent to someone in an open chapter 13 bankruptcy?
What do you mean by "safe"? The rental agreement or lease will not be affected by the Chapter 13, but you as a prospective landlord should make sure the rent amount is in the plan or is supported by the debtor's current income, which would have to be more than the original income. Many Chapter 13s crash in the first year, or before they are completed, and are converted to Chapter 7s. Check with the trustee or check the docket in the bankruptcy court to see if there have been problems.
How does a person file for chapter 11 bankruptcy?
To file chapter 11 bankruptcy one must propose a plan and then must find creditors to agree with this plan. Then, the person must take the plan and creditors to bankruptcy court where the judge will decide whether the plan can work or not. As long as the judge and all the creditors agree then that person can follow through with the plan and be in chapter 11 bankruptcy.
Can your Chapter 11 be dismissed due to plan payments?
Chapter 11 is a corporate business bankruptcy where a reorganization plan is made while operating under protection. It is not a Chapter 13 with a specific payment plan.
Can you leave a chapter 13 bankruptcy open and refinance your current mortgage if the mortgage is not included in the chapter 13?
Here is the short answer.........No. No lender will allow this. Lenders want you to be out of Bankruptcy.This is what I do refinance people out of bankruptcy early or arrange refinancing so that my clients can avoid bankruptcy or forclosure altogether. that is what you must do in order to refi your mortgage regardless of the mortgage status with your bankruptcy plan
If you file chapter 7 bankruptcy what happens with your state pension plan?
Uneffected.
What is chapter 13 bankrupt?
There is a big difference between chapter 7 and chapter 13 bankruptcy. Generally speaking, chapter 13 bankruptcy is a type of Reorganization bankruptcy. It filing a plan with the bankruptcy court suggesting how you will repay your debt. Some debts must be repaid in full while others require only a percentage or nothing at all.
Does interest owed to the Internal Revenue Service stop accruing during Chapter 13 bankruptcy?
Typically a Chapter 13 bankruptcy will require you to enter into a payment plan with the IRS, and interest will be frozen as of the date that you file your bankruptcy petition.
What can a trustee take during chapter 13 bankruptcy?
Money for your plan payment, tax refunds.
What if your income increases after filing a chapter 13 bankruptcy?
Chapter 13 is more of a repayment plan than a debt wipeout. Because of that, if there is a change in your financial circumstances after filing for bankruptcy then the court needs to be aware of it.
Do you have to be working to file for bankruptcy?
There are three types of bankruptcy namely Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Business Bankruptcy. Chapter 7 bankruptcy will discharge most types of debts for the average citizen. It will stay on record for ten years, but the major benefit is the stay it provides which prevents creditors from hassling you. On the other hand Chapter 11 bankruptcy is used by businesses, not citizens, to reorganize debts while Chapter 13 bankruptcy is wage earner's bankruptcy, which allows you to repay your debt through a plan. Among these three, Chapter 13 bankruptcy is considered as the best option for people with a steady income, who happen to have fallen behind in loan payments. idk and i dont give rats a**. hahahaha
Can you get finance loan on an inherited home with o balance while in chapter 13 bankruptcy?
Yes, if the money is going to pay the balance of the plan, or pay 100% of all claims in the plan. Consult your bankruptcy attorney.
Can you add medical bills to an existing Chapter 13 bankruptcy?
Yes, you can amend your bankruptcy, usually for a fee that is passed on to you from the court. You should contact your attorney to add your medical bills before you bankruptcy is discharged and to reconfigure your bankruptcy plan.
