What would you like to do?
Can you take on a second job after filing for chapter thirteen bankruptcy?
Sure. No one would object to you doing anything that could possibly help your financial ability to pay off the debts.
In fact, it would be looked at favorably, as your serious intent to make good on your commitment, if anything.
In fact, it would be looked at favorably, as your serious intent to make good on your commitment, if anything.
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You re free to do so at any time...in fact it is encouraged...the idea of BK for you to get a fresh start and put your life - and finances - in order.
There are many ways one can file for chapter 11 bankruptcy. One can file for chapter 11 bankruptcy by proposing a plan in which the debtor plans on paying back debts over time….
Prior to actually filing for bankruptcy, the amount of time to prepare the paperwork will vary dependingg on the complexity of your case. Once you have filed a Chapter …7, you will probably receive your discharge in about 3.5 to 4 months. After you file, you will attend a meeting of creditors in about 4-6 weeks where you will answer questions by the bankruptcy trustee and possibly creditors. You are eligible to receive a dishcharge 60 days after the conclusion of the meeting of creditors unless one of your creditors files legal action to try to prevent you from receiving a discharge. By day 62 or 63, the bankrupty court should mail you a copy of the discharge order in the mail Usually when filing bankruptcy takes time to process. It is long proces when filign bankruptcy. Once you filed bankruptcy already then you should wait normally 8 to 10 years before you can file again.
The best way, especially for a Ch 13 is to contact a local attorney. You may end up with a lower repayment plan by using an attorney as well because they understand all the ex…emptions that you may qualify for. If you are set on doing it yourself, contact the clerk of the local Bankruptcy Court for the forms. Remember, the Clerk can NOT give you any advice. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
You can: 1) Hire a lawyer 2) File without any assistance by finding the right forms and regulations for your state and district you live in...or 3) Hire a bankruptcy petition …preparer to simply prepare your petition for you! Bankruptcy, in fact any legal process, any expert process..is not something one should do for themselves...even experts and well experienced or skilled people don't...and as you can ask a question like this...it just goes to show your likely entirely incompetent to do so even if there was an answer for "how" (that obviously doesn't involve virtually all the 10,000s of pages of legal writings and court operations that may or may not be needed, and change, for each case! There are going to be many, many, many more complicated questions to be answered, actions that must be done to get the best result, specific requirements. documents, etc....to answer fully and accurately...all much more difficult than figuring out a logical place to start a "how to...do a legal thing"...is the legal courthouse...in this case one of those in the entire court system that deals only with this type of case...The US Federal Bankruptcy Court for your District. Addressing the underlying part of your question - it is realistic to think everyone filing BK is in a dire financial position already without easy ways to pay for things, especially attorneys. That said, many lawyers keep their fees very reasonable for this, and there are provisions to assure administrative costs involved, like attorneys, are able to be paid as part of the process. Before you go any further, you should consult at least 2 attornies who practice in this field to get more info. These initial consults are almost always available for free. You can always file and administer it yourself, with only modest filing & court fee's, that are even sometimes able to be waived if you can meet certain qualifications, and again, file everything properly, etc. However, any court process is complex and can have any number of special issues and possible results. To someone who is unfamilar with it, and especially someone who may not be very financially conversant and able to easily understand the things being asked and where/how to get required documentation, etc. To expect to get the best result or even hoped for one, (in fact as seen from many of the Qs and beliefs expressed in Qs here, to not make matters even worse...even criminally so, or find that something was missed that becomes a problem years later), is simply unrealistic. I am not one, and may not particularly like them, but something as important as this to your future (not some purchase just because you want it), is exactly why and when an attorney (or expertise) is needed. As you look to get a fresh start and handle financial things differently, the purchase of expertise to accomplish it is not the time or place to DIY. == The Steps For Filing A Chapter 7 Bankruptcy: 1) You meet with an attorney (or can self file, which probably isn't recommended, especially if your starting with having to ask here. However, perhaps any of the "do it yourself" legal kits would be a viable alternative if you really want to go it alone.) 2) You submit a list of creditors, with addresses, types of debt and amounts owed. You'll also answer questions and provide information about your income and assets. 3) If after review you decide to go ahead and file, and determine which Chapter is best, prepare and sign all of the paperwork. 4) The attorney's office, or you, files the case. (Legal cases and procedures are exacting and frequently require lots of specific info., especially for someone not experineced in it). 5) You will attend a First Meeting of Creditors (341 meeting) where you will be asked questions about your case. 6) You will start to receive correspondence about the progress and may need to respond or instructions in case you have to reappear. Sometimes if you are reaffirming on a debt (for instance, keeping your car in a Chapter 7 and continuing to pay on it) you will be required to attend a Reaffirmation hearing. 7) If all is well, the debt will be discharged and the case will be closed. Many attorneys will give you a free consultation, but it is advisable to call and ask them instead of assuming that you won't be charged for the first meeting. The most important thing to keep in mind if you do file bankruptcy is that it is vital to keep your credit clean and your bills paid on time once the case has been closed and the debts discharged. I'd suggest that you consult with a local attorney for all the facts, because only an attorney can advise you on all of the details of the bankruptcy process and whether it is a viable option for you. You get the forms and instructions and read them carefully and understand everything. All the forms are available free from the bankruptcy court website for your jurisdiction. Some states have only one bankruptcy court for the state, some have two or three. Google your state and US Bankruptcy court. Read the rules, which you will also find on the website. Complete the forms. Most people do not understand exemptions and do not claim them, or do not claim them properly. The second biggest mistake self-filers make is to not complete the Statement of Intention, which only matters if you have a motor vehicle loan or a mortgage or home equity loan. The third mistake is not listing all - ALL - creditors and preparing a creditor mailing list in proper form. Forms and instructions are also available at several websites, usually belonging to lawyers but may not be free.
Any person of legal age or legal entity (corporation, partnership, LLC, etc.) can file for c. 7. Whether there is any need or point in filing depends on other facts.
There are both advantages and disadvantages to filing for bankruptcy. Chapter 7 is often known as debt liquidation bankruptcy and is a good options for many individuals are co…uples that are in dire financial straits. As soon as a debtor files for bankruptcy, there is an automatic stay and most creditors must stop their collection efforts. Thus, the debtor can begin rebuilding his credit; financially-speaking, the debtor can start over. It is true that filing for bankruptcy ruins a debtor's credit from a number of years and may cause embarrassment. However, incurring more debt and facing the harassing phone calls, letters and potential lawsuits from creditors can have the same effect. Filing for bankruptcy will allow many debtors to get started sooner on rebuilding their credit in peace.
It depends on whether the second mortgage attaches to any equity in the property. If the house is worth as much or more than the first mortgage balance, you may well be …able to.
Items obtained through fraud, child support, court ordered restituion and federal/state taxes (off the top of my head). ALL debts must be listed because you are swearing that …you have listed all debts. If there are assets in the case, some of your debts will be paid, therefore, the Courts need to know of ALL of your debts, so you list EVERYTHING. However, some debts are non-dischargable such as: Items obtained through fraud; Domestic Support Obligations; Taxes that are less than 3 years old; Student Loans; Debts incurred in the process of a crime (such as a DUI accident). It should also be noted that there is a 90 day presumptive period. Any debt incurred within 90 days prior to filing a Bankruptcy is presumptively fraudelent. Any debt incurred with the intention of filing Bankruptcy or without intention of repayment is presumed fraudulent.
You can file chapter 7 bankruptcy once every seven years, if you otherwise meet the qualifications for filing.
Everyones discharge time may be different. Simply because each plan is prepared based on specific personal information such as debtors particular amount of debt, debtors… income, and length of time plan is set up for repayment.All of these factors are taken into consideration to prepare a plan that is manageable payment wise. Five years is the maximum time allowed to schedule repayments for so depending on the amount of debt it could be the full five or much less.
not at the same time, and you'll have to wait a certain period of time after being dismissed/discharged from one before filing the other.
Chapter 7 is called Liquidation Under the Bankruptcy Code and is the chapter of the Bankruptcy Code providing for "liquidation,", the sale of a debtor's nonexempt property and… the distribution of the proceeds to creditors.
If the payments are current, or if an agreement can be made with the lender, and the exemption covers the equity, a house can usually be kept. Second mortgages are dischargea…be, but, they are not subject to the same laws that unsecured debts are. The lender even after the BK discharge can take action (and probably will). Ususally placing a lien against the property.
How could you improve your credit score after filing Chapter thirteen and converting to Chapter seven once the Chapter seven bankruptcy has been discharged?
Answer On my website, I have an article on 10 tips to rebuilding your credit after bankruptch: http://www.chs-law.com/2005/05/rebuilding-credit-after-…bankruptcy.html
Depending on some things, like when the tax was paid and when the BK was filed, the refund is like any other asset and available to creditors. The trustee or court would… take it and pay it to creditors according to their standing in the case.
If you still owe federal income taxes, they will. But if they don't take it, the chapter 13 trustee gets the tax refund. You should have listed any income taxes that were dis…chargeable (due more that 3 years prior to the filing date).