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Does social security payments count in figuring out the payment made to the bankruptcy court?
Wiki User
∙ 10y ago
Social security payments are not a factor in the means test. However, they are a factor in terms of your budget and as to how much you have available to repay creditors under Chapter 13.
Wiki User
∙ 10y ago
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Can you change your bankruptcy payment?
Yes, you can modify your plan payments if there is a change in your economic situation.
What does apa stand for in bankruptcy?
APA stands for "Automatic Payment Avoidance." It is a term used in bankruptcy to describe the process where a debtor stops making automatic payments to a creditor after filing for bankruptcy.
How are chapter 13 bankruptcy payments determined?
Determined by taking your income and subtracting expenses- anything left over is the required payment.
What is bankruptcy refinancing?
Bankruptcy refinance helps homeowners who had bankruptcy or other credit matters get a home loan to find a payment assistance, and helps restore their credit while also achieving their financial security.
Will a loan auto calculator help you figure out your monthly payments?
A loan auto calculator is made for precisely that, figuring out your monthly payments. They are straight forward to use and clearly state exactly what information they need to calculate your monthly payment.
Will bankruptcy payment be lowered when house payment is out of default?
Yes. in support with your bankruptcy lawyers experts.
Is there a statutet of limitation for collecting payment of a reposessed auto?
There are no Statue of limitations on repossession orders given to repo companies. Payments to the finance company can be squashed easily as going into bankruptcy!
Welfare checks and food stamps are examples of?
Transfer Payments In the US, Social Security is not, strictly speaking, a transfer payment; it's social insurance. Welfare payments and Medicaid may also be described as entitlement programs.
In California would the debtor who just filed bankruptcy be arrested for concealing the car on which he stopped making payments?
I don't know about California, but if you filed bankruptcy, you do have to answer to a Judge as to your actions, the non-payment, and/or concealment. The loan was secured by the car so if the Judge sees that the car is worth what is owed--you either reafirm and make payments or you give the car back.
What is a payment reduction?
Beyond the obvious, a reduction in a payment or payments, there are scams and barely legal offers from certain entities offering to reduce your payments. What they fail to disclose is how much it will cost and that they will not be making payments for a year or more, during which time the creditors will start suing you, and you will be clueless as why they are doing that. Consult a good bankruptcy lawyer. If you can do a payment plan and want to do that, fine. All creditors will be treated the same, and none of them can sue you. Plus, no interest or penalties or legal fees will accrue on the loans, either.
Which hurts your credit worse bankruptcy or late payments?
Late payment will drive your credit score into the ground rapidly. Many people question filing a Bankruptcy even though their credit is shot through late payments on mortgages and other bills. Filing Bankruptcy put all collection activity on hold and your accounts show current and up to date as long as you make your payments on time. Most people are surprised tofine their credit in much better shape after a BK than before with a much higher credit score Late payments can always be corrected, and this will be reflected on your credit file. Bankruptcy, however, will stay on your credit file for six years.
Could vehicle get repo if co buyer is in bankruptcy?
The short answer is no. As long as you are making the payments the car will not be repossessed. When the co-buyer goes before the bankruptcy judge they can have the car included or excluded from the bankruptcy. If it's included then the car will be "voluntary" repossessed. If it's excluded then everything is "business as usual" for you. The key is to keep your payment current and on time.
