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Debt and Bankruptcy

Parent Category: Personal Finance
State of owing money to creditors. A person or organization is bankrupt when judged to be legally insolvent.
  if you are asking about the limit a creditor can put on a garnishment, it is a percentage, depending on the state you live in, not the state the creditor is in
Contact the collection agency that is doing the garnishment, .I would also ask them to email you all the documents as we'll. Keep for your records.
You will need to work with the financial institution to work out a settlement where you retain the vehicle and become current on your payments. Each loan institution is going to be different but the only way is calling until you get to the correct employee.
Depending on what state you are in you can file for title based on abandoned vehicle laws,but in West Virginia you can only re-title if your a state trooper or a auto repair business owner
well i think that the foreclosure sale will be on about the 25 of  may.
Most likely you will. You need to notify your insurance company of  the move immediately so that they can change the garaging address.  Ask your agent about whether or not your company even does business  in your new state. If you are an adult, you need your own insurance  in your name. You...
i am 65yrs + live Nevada consindering walking away from my mortgage .the house is way upside down and i connot retire and continue to make house payments. i have good credit and i am still working full time but soon working will have to end the credit i do not care what rating i but would not want a...
Definitely. If the buyer change his/ her decisions or suddenly vanish, one can make an application to the court to cancel the sales contract. The liens will still exist unless you terminate the lien contract by notifying the other party to the contract. Any forms of notification is accepted as long...
No, but if you file bankruptcy you are willing to give up important things. Such as cars , money , boats, or anything value. That would help not having a foreclosure but it would take 2 years to get out the house if you recieve a foreclosure.
The estate must repay the loan before assets are inherited.  Otherwise, only if they cosigned.
It would depend on local law; generally repossession is done after  forfeiture on the loan on that car, or as part of a general claim  on a person's property (to pay of debts or a fine, for instance).  If such laws are not in place locally, or the rules aren't  followed, repossession would still...
You would normally receive a notice from the financial management  service (FMS) advising you of your refund garnishment.
I don't think that's possible if it's already foreclosed on and it's still inside the resident
Estimating the time it will take to pay off the national debt  depends on future revenues and expenses--not just the current  amount owed. If expenditures are productive--that is, they grow the  economy and generate better-paying jobs, then tax revenues will  rise faster.    Projections are...
Yes you, can. When a house gets foreclosed, it is based on the house itself, not its personal furniture and items.
  One common misconception that homeowners can have during a foreclosure situation is that they can somehow transfer ownership of a property and that this will stop the foreclosure. Nothing could be further from the truth, and simply signing over the deed to the house to a third party will put...
Most lenders would only give you an auto loan if they are the lien holder until your car is paid off. This way you cannot sell the car or do anything legally without their consent.
No, collection agencies do not have any right to freeze your  savings account. Only banks have the right to freeze your account  but depends on the nature of the default.
It depends on the state in which you live. Yes in Illinois,  Indiana, Iowa, Kentucky, Louisiana, Rhode Island, West Virginia and  Wyoming.
no becuase bank charge when transaction is done. your process on  through debit card. if this process happen with through check then  bank charge it.
Bankruptcy only impacts your credit for 7 years. Contact Experian,  Transunion, Equifax to get it removed from your credit report.  Addresses and phone numbers to all 3 are avail. on internet,
No. Medicare might provide payment for the first 20 days and part  of the next 80 days of care in a nursing home, which usually  results in a contribution by you of about $151 per day for the 80  days in central New York.
Laws and regulations regarding debt inheritance differ by country.  In most cases, a debt will become part of the inheritance and will  either be settled from the inheritance first, or paid by the  inheritor(s). There are also countries where significant debts  (such as a mortgage) is coupled to...
If it was not you it is not your business. If it is not your  business you cannot find out about the situation. Privacy laws are  taken seriously and everyone privacy must be protected. Don't think  you can find out some else's financial business. 
The statute of limitations for being sued for a debt, in Maine, is  6 years in all forms. However, a debt itself would not have a  similar expiration.
If you have good credit, you can apply for a balance transfer  credit card with a 0% intro period so you can save on interest for  up to a year and a half. You can also work with a debt settlement  company to help you negotiate with your lenders to pay off your  debt for less than you owe.
Not possible if it is coming from bankruptcy court (it probably is)
It depends on local legislation A basic, rough primer: In the US, BK is always done under FEDERAL Laws, in a Federal Bankruptcy 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...
In many jurisdictions, about as long as it takes the repossession driver to get to the nearest courthouse and fill out the paperwork.
I don't know of a phone number that you can call to see if your tax  refund will be taken or partially taken for debts such as you  mentioned here. The IRS is not the agency that handles this action,  it is the Department of the Treasury, but a different department  with the Treasury Department....
No you cant as far as know because you are still owing the IRS  money witch could cause a conflict between you and the Banking  Agency, Other words know what's up before you do it.
Not until the estate has gone through Probate. If an Executor or  Administrator has been assigned by will or by Court then they have  responsibility to secure property belonging to the estate until it  is settled. If a loss occurs, they could be personally liable to  the heirs of the estate.
A duplicate title can be issued if there was previously a bank that  owned the vehicle, this can include a lease or a loan. Once the  amount is paid in full, a duplicate title will be issued to person  who signed the contract, with the exception of the lien holder  listed.
In some states you may be exempted from garnishment. In order to fully answer your question please copy and paste to the url. https://livechat17.volusion.com/livechat.aspx?ID=242155&location=https%3a//www.ontrackfinancialgroup.com/&auto=0&cookieGuid=4jemrfffgqabwkvgckfyn2ni&DeptID=...
Some parks are located on private property and some are public  property. It would depend on the owner of the park. A homeowners  association for instance can own a park within their subdivision.  This would be a privately owned park and can be only for members of  the homeowners association if...
You would eventually need to have a buyer in order to complete a short sale otherwise you would be applying for a deed in lieu. Your Bank/lender however will start the short sale process without a buyer, in some cases approve a purchase price range so that you have an idea what you need to be...
  == Answer ==   Under the new bankruptcy law taking effect on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago.   The debtor cannot file a Chapter 13 unless: (1) the debtor received a...
It shouldn't (although I don't know which country you're referringto). Let's use the U.S. as an example. When you apply for citizenship,you must be financially self sufficient. I.e. you cannot be aliability to the treasury. Bankruptcy is not a crime. It is simply a tool of last resort, toshed your...
  == Answer ==   As in many disputes, the rent money should be placed in "escrow" having the condition that the accrued amount will be distributed according to the terms ultimately determined in a future settlement or court order.
The answer to this really depends on the nature of the property and how it is held (i.e. tenants in common, joint tenancy). You can file for bankruptcy for your personal debts. If the ownership debt is easily severable then it is likely that you would be able to file for bankruptcy and include the...
Sure, hopefully you have a signed promissory note as evidence of the loan. If not, its your word against the defendant.
  == Answer ==   no it cant both owners have to consent to paying for the fence or the one that has the fence put up is responsible.
You will need to file an Injured Spouse Form ( 8379) if you file jointly, in order to protect your portion of the income tax refund. You can order this form on the IRS official website, just type in IRS, and go to their page, and look under , order forms and publications. Hope this helps. Mary
An allowance for bad debt is essentially areduction in a bank's accounts receivable . The allowance forbad debt equals the amount of the banks loans that it does not expect tocollect. .
Currently, no government credit card debt settlement programs  exist. Consumers who are in debt trouble do not have the option of  government assistance to get out. What does exist, on the other  hand, is publicizing by organizations, some of which are obligation  settlement organizations,...
Answer . \nused car dealers usually will repair, if not call the better business bureau or write to them NOW!!!! Look at your sales agreement and see if you have so much time for them to fix repair or warranty of 6 mo or more
  == Answer ==   If they are still in the car, the person that stole the car is responsible, unless he can convince the police that someone else is responsible.
I am not sure what you are asking, but here goes. If you file bankruptcy for yourself, it only applies to you. The debtors can, and probably will go after your ex. It happened to me already. Your ex can file bankruptcy on his own behalf, and be protected also. If you have a judgment against your ex,...
If the title is in your name only, then the new buyer will not be able to put the title in his name. If it was repossessed, then the lienholder was able to sell it and the sale is valid.
 Cars repossessed laws in Canada a vary by provine.Whether your  car will be repossessed depends on such factors as the province you  live in and how for behind you are with your payments.Vehicle  repossessed is negative impact on your credit rating. If you want  more information email me at ...
Pay off the higher interest one first. Then, make at least double the payments on the two others and don't default on them. The sooner you can manage this, the better off you are since you reduce the dollars you are paying just for interest. A second job and serious cutbacks in your household or...
If they have is listed as in default, they will take it and apply  it to catch up your loan payments. I had a couple of people this  year who said theirs was on deferment but they still took the  refund, then others they didn't.
A charged-off loan is one where the lender of the money no longer  believes the loan is profitable, due to the loss of value of the  car. This is an accounting term and has no bearing on the amount of  money a car will go for.
Answer . Neither Chapter 7 nor Chapter 13 necessarily includes or doesn't include your mortgage. You can file a Chapter 7 and surrender your house and discharge your mortgage or you can reaffirm the mortgage and keep the house (depending on the circumstances). Similarly, you can file a Chapter...
A co-buyer can move out of state with car as long as car paymentsare current. The co-buyer should update the new address with thelender.
Once the deal is signed, you have the power.......
I concur, this is still considered income earned from employment and includable in the SS tax base. Yes, bonus payments, in fact virtually anything received of value, are the same as cash or any other income received from your employer for tax purposes. It is simply an 'Income' and therefore...
You lose the car ... simple ... it is returned to the company that lent you the money to purchase it ... it then gets cleaned up and at the option of the lender either gets sold to someone else or it gets auctioned off. This is their right to do this - they own the car, not you ... if you don't have...
In short, yes. You just have to sign a legal agreement that the  person that currently owns the car is willing to put up the title  of the car as collateral for the private loan. Make sure the person  who has the loan possesses the title and has filed a lien with the  Department of Motor...
Answer  It probably doesn't matter since most student loans are  non-dischargeable (see 11 USC 523(a)(8), which says that student  loans may NOT be discharged in bankruptcy if they are "for an  educational benefit overpayment or loan made, insured or guaranteed  by a governmental unit, or made...
== ==   I normally list all of the following types of contracts and leases on Schedule G: Residential leases (like a rental lease for where the debtor lives, EVEN IF it is only a verbal month-to-month arrangement), cell phone contracts, lot rent agreements, land purchase/sale contracts, home...
Credit card companies can bring you to court if you owe outstanding  debts. They could end up garnishing your wages or even take your  car if they win the case.
Foreign and domestic debts is approx. 5 billion pesos = $116 billion dollars . As of May 2012 the Foreign -exchange reserve of the Philippines is $76 billion dollars . The dollar reserve should grow not less than 10%/yr for the next 4 years or so in order to reach 5 billion pesos debt pay off .
It is *possible* that the Bankruptcy Trustee may accept a motion, made by your attorney. But, there are many considerations including is it a Federal tax debt or state? What is the amount, was there fraud involved and so on;
Yes, if you already have a payment arrangement with the IRS but  have a refund due, they will take the refund. If you have a balance  due, they will apply your tax refund to this balance.
so people could give it instead of trading something the same value but you have to earn it.
The Car is a 1977 thriller or horror film directed by Elliot Silverstream.
Yes. Only child support and alimony are not dischargeable. That does not mean you cannot hold your ex in contempt for doing so, however. State laws differ, so consult a knowledgeable lawyer.
Answer . It seems like a lot of the questions are about cars. That means they have a high chance of coming up as a car question.
Statute of limitation on credit card debt in Singapore?
A chapter 13 involves a plan you and your attorney have proposed to the creditors for them to object or not and the court to allow if no objections are filed. The C. 13 trustee does not "force" you to do anything, other than propose a fair plan according to your income and expenses
It means that the contractor contributed work and materials that  added to the value of your home. You owe that value to the  contractor. The lien is a type of security interest that must be  paid before you can mortgage or sell your property.   You should check the rules for mechanic's liens...
    ==Answer==     Yes.     *   No, owing debts has no bearing on the deportation process.
  == Answer ==   working
That would likely depend on the laws in the country they moved to. maybe one should check that BEFORE they move.    AnswerNo, the above poster hasn't a clue about much and even less about international law.It always makes more sense to fight than run.The problem with running to another...
If you are in a chapter 7, you cannot sell any property without permission from the court and the knowledge of the trustee. Get a lawyer if you do not have one.
These regulations from the Consumer Credit Protection Act of 1968  were created to make sure than lenders cannot take advantage of  borrowers. The regulations have evolved over time, and they make  sure people are aware of transfers, debt collections, equal credit  opportunities, credit...
It will leave you responsible for any joint debts you had with your ex. That includes any arrears prior to the ex filing, attorney's fees, penalties, etc. That will in turn affect your credit score and your credit report. If there are no joint debts, it should have little effect, but you may want...