Laws vary from state to state. However, if you haven't made your mortgage payments for several months, the bank is likely to repossess your home. Generally the time period is up to the lender, but once the paperwork goes through--you will receive notices if your mailing address is up to date-- you s…
It depends on the laws in the state where you live. You need to
contact your lawyer.
I suggest you file Chapter 13 if you are unable to pay off the
outstanding balance due to your lender. This is what happened to me
with Ford Credit.
Call for a telephone interview with rep in Redemption Dept
What to do Call the bank and ask. They will not lie about it.
If your car has been repo'd, call your local law enforcement agency. Almost everywhere we has repo people have to notify law enforcement that we have taken the car, that is to prevent you from calling up and reporting it stolen.…
it could go either way. It will say "included in BK" if you included it and repo if you did not.
The "bankruptcy" of an insurance company is referred to as "insolvency". It is roughly defined as the financial inability to pay claims as they accrue. As a condition of becoming authorized (licensed) to transact insurance business in the company's state of domicile, it is required to pay a portion…
Contact the Insurance Commissioner, they probably had the company taken over by another company.
Personal bankruptcy generally is considered the debt management option of last resort because the results are long-lasting and far-reaching. A bankruptcy stays on your credit report for 10 years, making it difficult to acquire credit, buy a home, get life insurance, or sometimes get a job. However, …
It has always been 10 years. Some CRAs will take it off after 7.
Bankruptcy has its basis in the Bible. The Bible states 7 years so many places (including CRAs) ignore it after 7.
More input from FAQ Farmers:
I don't know for how long, but for at least the past 8 years the…
I am also in the same situation you are in. According to my attorney, I don't have to move out until the mortgage company successfully forecloses on the property. I was already in foreclosure before I filed the bankruptcy but by doing so I bought more time with the "stay" and now the mortgage compan…
Bankruptcy During a Lawsuit
Here is advice:
If I were you, I would get an attorneys advice. I do know that after your bankruptcy is discharged and final, if you receive a large amount of money within 6 months after, you must pay it on your debts. Although, Im not sure if this pertains to law sui…
You will list on the petition the actual names of the creditors not the collection agencies. After you file your petition you will give your docket number to any of the creditors or the collection agencies who are trying to collect monies for the creditors listed on the petition when they call you …
The other debtor must either make arrangements to pay, modify or otherwise deal with the pre-petition and post-petition arrears and costs and legal fees or be foreclosed upon. A possible action is filing the other debtor's own bankruptcy, if there is not one outstanding, though this will be short-…
How to file for bankruptcy online The following paragraph sounds very intimidating to a bankruptcy consumer, but in reality, it is not. The stack of forms to file bankruptcy is about 1/4 inch thick, there are Mandatory Credit Counseling and Debtor Education courses to take, and a Meeting of Credito…
Possibly. If there were no creditors complaining, (Motion for Relief from stay) then you should have no problems.Note though that you may have issues getting the first bankruptcy dismissed.Also, you may be better off letting the bankruptcy continue as a joint peition just to save the headache of ref…
My best guess to that question is "it depends." You have to have resided or had your principal assets in a U.S. district for 91 days, basically, to file bankruptcy in that district. 11 U.S.C. 1408 requires that one live in a district for the greater part of the preceding 180 days in order to file a …
Items on your credit history remain only with you. They do not get copied to your wife's credit history after you get married. The only items that appear on both your credit histories is if you have a joint account with both your names on the account. I would get the advice of a law…
In a Chapter 7 case, one can normally reopen a bankruptcy to add a creditor as long as the debt was incurred before the bankruptcy case was filed and the debtor simply forgot to list the creditor on his or her petition. The court charges a filing fee of $155 to reopen a case and a $26 amendment fee …
Check your divorce paperwork. Usually, there's a provision within the decree stating that any financial obligations- such as alimony or child support- are still valid claims when a bankruptcy is declared. If your lawyer didn't do his/her homework and there is no such provision, you stand in line wit…
Yes you can start over but this does have an extreme barring on your credit. You can include the years prior to three years from the tax year you owed the IRS. However any years owing after the fact, you will be responsible for. Actually, you can under certain circumstances -- mainly if enough time…
Yes. Married people can file individually. The marriage actually has nothing to do with it though.If you filed, no matter what, you can't file chapter 7 again for 8 years, provided you received a discharge. He can file anytime he wants.If you have any joint debt, you may want to consider Chapter 13.…
One person can file a bankruptcy in a marriage.
You will need to take into account the income and expenses of the parter. The Trustee may ask some questions to make sure you are not trying to hide assets in the other person's name. Be sure you can back everything up and you sh…
Assuming that you are referring to Chapter 7 bankruptcy, 8 years.
Usually 8 year to 10 years when filing like Chapter 7 bankrutpcy.
If you have no assets, then it's a great way to get rid of debt. Chapter 7 bankruptcy is FAST, and normally pretty cheap compared to what you get (all your debt gone).
If you have assets, you may be forced into a Chapter 13 and have to pay back some debt.
I like Nate's answer.
Amend the petition. There is a charge for this $20-$40 range I
You need to file a "Motion to Amend" and add the new creditors.
Be sure and check local rules to see how they want the amendments
prepared. Also, make sure you note that YOU have to send out the
notifications of filing to the n…
It depends on what the civil judgment was for. For example, judgments for medical or credit card collections may normally be discharged by any chapter of bankruptcy. But, if for example the civil judgment was for damages caused from drinking and driving, or for an intentional tort, such as battery o…
One can file a bankruptcy case at any time. The only issues upon filing will be:1. Under what Chapter will one be permitted to file;2. Whether one will get the benefit of the automatic stay while the case is pending; and3. Whether one will get a discharge at the end of the case.If a prior case was f…
An automatic stay stops creditors from proceeding against you, either garnishing wages or siezing property. I think after the automatic stay is lifted, the creditor requesting that the stay is lifted, can proceed against you for the item they want back.
Once the stay is lifted [granted] by the Bank…
Actually, It never was 7 years. Chapter 13 is 7 years, and Chapter 7 is 10 years (sometimes longer). That regulation is at least 50 years old. Keep in mind however you may only be granted a Chapter 7 Discharge ONCE EVERY 8 YEARS FROM PREVIOUS BANKRUPTCY DISCHARGE DATE (law changed in 10/2005).
It depends. If you have something to hide, then I would not file bankruptcy - it becomes a Federal Crime.Most of the time Trustees will ask to see any and all bank statements for a few months (normally 3) up to the date of filing. They may ask some questions related to how you spend you cash, and ma…
The best approach would be to work with the Creditor's attorney to come up with some kind of agreement.You can also move to have the stay reimposed or ask the Judge to reconsider lifting the stay.
If the motion for relief from stay has been granted, you no longer have a defense. The time to…
Removing Liens and Judgments You can't. By federal law bankruptcies can be reported up to 10 years after filing, assuming a discharge, of all discharged unsecured debts. Liens are secured debts and may or may not have been discharged. Undischarged debts may be reported up to 7 years after your last …
I am not an attorney but.... Yes, you can keep any loans or credit cards as long as you reaffirm with that company.
When you file, you list all your creditors. If you do not owe money to a specific credit card, then they are not considered a creditor. So, when its all over with, you can use…
It's according to how much you owe. If it's a large amount they may give you a hard time. You them need to go in front of the trustee and be able to prove why you needed to use the credit card. It may be do to a change in income, illness, high prescription cost, needing to buy food on it, etc.
There's lots of details that can change how that situation comes out, such as the nature of the judgment and which chapter of bankruptcy was filed. But, generally speaking, the Bankruptcy Code says that the debt is discharged if it is properly listed OR if the creditor had notice or actual knowledge…
That's a really complicated situation, and you will definitely want to see an attorney in your area about it since there are lots of little factors that can completely change the outcome.Generally speaking, one would probably have a tough time filing bankruptcy in that situation if one put the items…
No. It is similar to your taxes, you have the option of filing jointly.However, if you have been married for awhile and have a lot of joint debt, you should file jointly.
No. It is similar to your taxes, you have the option of filing jointly.However, if you have been married for awhile and …
Chapter 7 is total liquidation, so basically you present the court a total financial picture of yourself, assets and debts. The court will distribute what it can of your assets to your creditors. In my case, I had no assets but the court took my 2700 tax refund and distributed it. So my answer is ye…
Notify your attorney.
If its a reasonable amount of money, get an attorney if you don't have one. Sometimes they can get you some wiggle room.
If you don't want an attorney, contact your Trustee, who will most likely demand the (or most of the) money.
Do not just ignore it. You can get …
I heard a lawyer on Talk Radio say that chapter 7 bankruptcy can
be filed again after a 6 year waiting period.
It used to be that you could file chapter 7 once every 6 years.
However, come October 17, 2005, the new law takes effect, and
debtors can only file once every 8 years.
Hope this helps, You…
If the debts are joint, then yes, to get any benefit, you both have to file.If one partner filed and the other did not, and the debts are joint, you'll just shift the whole burdon to the other partner.Contrary to popular belief, bankruptcy does not "destroy" your credit. You will be charged higher i…
Chapter 7 Roughly, it takes 5-6 months after filing of the petition to get a discharge if it is a no-asset case. If there are assets or questions about the value of assets, it may take longer. More information:There is no court hearing in a no-asset case, and the discharge in Massachusetts is usuall…
Yes.When you reaffirm you agree to continue the debt and it is removed from the bankruptcy estate.Also, the debt in this case is post-peition.. as in it came about after the date of filing.
No. You can only claim debts that are in your name.The other person took the responsibility to allow you to use his/her card and they are liable.This answer is wrong. You can and should list the debt. List both the creditor and the person who let you use the card. You must list all debts you owe und…
I don't know anything about 529 plans, and I can't cite any law or cases, but it has been my experience - in Southern Indiana at least - that trustees don't usually pursue joint accounts with balances in excess of the exemption limit IF the accounts were not funded by the debtor. In other words, if …
One could call their attorney and advise them of the correct address.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…
Litigation concering business' is handled differently than personal lawsuits or BK. Lawsuit/judments against a business can sometimes be dismissed in a BK discharge. If the judgment pertains to personal injury, civil rights violation, etc. it is not ordinarily dischargeable in BK proceedings. An…
180 days from the date of the discharge.
I believe it is 180 days from filing rather than from discharge. If you filed a chapter 7 and received the inheritance or the right to the inheritance within 180 days of filing, then the money should come into the bankruptcy estate. If you already receive…
All issues pertaining to workman's comprehension insurance are regulated by state law. The exemptions for the state the person lives in, will list the exemption status.
The same thing that happens when a Chapter 13 is dismissed in any other state. It is as if the bankruptcy was never filed. The automatic stay is lifted and the trustee returns any money left on hand to you.
Winning a lawsuit will have no impact on your ability to file for Chapter 7 bankruptcy. If you are a judgment creditor, the judgment might become an asset of the bankruptcy estate and the bankruptcy trust might choose to sell the judgment or enforce the judgment for the benefit of your creditors..
The obligation is that the loan is now the liability of the co-signer who did NOT file bankruptcy.Your rights are the same as any debtor. You can pay the loan, or default. Declaring bankruptcy yourself is an option also.
For those reading along...this is why lenders want a co signer before le…
Refinancing after a bankruptcyThe time period you have to wait depends on what chapter bankruptcy you filed.Generally, you are able to refinance 2yrs after a Chapter 7 discharge.If you are in Chapter 13, you can refinance the next day with many lenders. You can email a mortgage broker like myself to…
You can quite possibly refinance up to 80 percent of the value of your home and get some cashout with a decent rate.
A lien is always against real property, such as a house. this prevents the property from being sold or used as collateral. A judgment can be anything from the liquidation of assets to garnisment of bank accounts and wages.
Big difference in bankruptcy. There is even a difference in the type…
Yes, the Trustee can and it does happen. Every creditor that has a secured lien must file the appropriate paperwork with the appropriate state agency and in most states, doing it within a certain number of days. Normally 20. If they don't do it timely, the Trustee can avoid the…
That type of allegaton might be subject to a criminal investigation. However, the BK court has no jurisdiction over such a matter.If the partner was allegeding that a debt was owed him due to the embezzlement, the Bankruptcy Court would certainly have jurisdiction to hold the debt is non-dischargeab…
A petition to have the lien removed can be made to the court. The bankruptcy discharge will not automatically cancel it out. I am assuming "nonsecure" refers to the creditor who holds the lien (such as a credit card debt). This is not a factor in whether or not the lien will or can be dismissed. Ref…
When you file for Chapter 7 bankruptcy, you are responsible for listing all of your debts. Some debts are generally not dischargable (i.e. child support, most taxes, student loans, secured debts, etc.). When you receive a discharge for dischargeable debts, the discharge generally applies to debts li…
Of course you can. If it is a large apartment complex or upscale home where a credit check is run, they may decline to rent to you just as if you had bad credit. Most of the time after bankruptcy that's the only way to get a residence.
UCC-1 stands for Uniform Commercial Code Form 1. It is not an agreement. It is just notice to the world that one person claims that it has an interest in someone else's property, usually as collateral for a debt. It is normally filed in the office of the Secretary of State in the state where the de…
It is the duty of the bankruptcy trustee to recover all available assets of the petitioner. That includes action against third parties which owe the petitioner money. The method in which such a transaction can be handled is pursuant to federal or state bankruptcy laws.
Yes, but new bankruptcy reform will become effective on Oct 17, 2005. Some previous filings may or may not be deemed retroactive as to when they can be filed, as the new law will change the time frame to eight years. It will also become very difficult to file a Chapter 7 bankruptcy if …
Yes, there are no consumer laws such as the FDCPA that would prevent such action, as bankruptcy is a matter of public record, and some bankruptcy filings are published in newspapers. Since it is true it could not be construed as slander, libel, defamation and so forth. It is rude, unethica…
There is something amiss here, a debt that is discharged in bankruptcy is no longer collectible. Therefore a lawsuit could not be filed and won nor a judgment awarded to the plaintiff pertaining to such a debt. The involved party should contact the attorney that handled the bankruptcy …
Yes, at the present time, a Chapter 13 has no filing time limits.
As of October 17, 2005, the new time limit for filing a Chapter 7 is
now eight (8) years from the discharge date of a previous "7" filing.
The time limit for a Chapter 13 is four (4) years from the discharge
Bankruptcy. A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-insured mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy. Additionally, the borrower must have re-established good credit or chosen not to incur new cr…
No. Reaffirmation of debt is an option only in Chapter 7. Your unsecured creditors are paid according to your plan in chapter 13.
Five requirements exist under the Bankruptcy Code in order to determine whether a reaffirmation agreement is valid:
1. The reaffirmation agreement must be en…
Yes, legally spouses are not required to file joint bankruptcy when only one is the debtor. However, if the couple reside in a community property state the nonfiling spouse will still be held responsible for the debt, therefore joint bankruptcy is advisable. In non-community property states, the cou…
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 abo…
The Professionsal Rules of Responsibility Rule 1.5(d)(1) prohibits attorneys from taking a contigency fee from divorce cases. Your best bet is to contact you local Bar Association for a lawyer that works with low-income persons. If you go into most book shops you can find a book on "How to get a Div…
If you have adequate insurance to cover the claim, you should demand that your insurance company settle the lawsuit withing your policy limits in exchange for a full waiver. If you have enough coverage to coverage and can settle the case, bankruptcy should not be necessary. You should …
Specific bad check laws vary by state.In almost all it is a crime, and depending on the amount (and circumstances) and place, even a felony. It can also be pursued as fraud or theft by deception...which is a felony crime almost everywhere.In California, you can be held liable for the amount …
no you can not
That answer is incorrect.
Whether you can file a bankruptcy case and under which Chapter you can file needs to be evaluated under the terms of Bankruptcy code.
Whether or not a particular debt is dischargeable needs to be evaluated under the terms of the Bankruptcy co…
The answer to this question depends on a number of important factors, including when the claim arose, what type of bankruptcy has been filed and whether the type of claim is exempt under state law.
In a Chapter 7 bankruptcy, the court appoints a trustee who is responsible for colle…
You still have to pay them.That answer is correct...but a slight explanation: Generally speaking, going to jail does not effect your credit or any loans you may have. If you go to jail, the payments are still due, and if you don't pay, the finance company will eventually repossess the vehicle.
secondary production is the conversion of raw materials to finished products. this is the second stage of production.
If you do it illegally, You will go to jail.
Call yourself DJ mixer
The two way fungibility means that the Depository Receipts (ADRs/GDRs) can be converted into underlying shares & underlying shares can be converted into Depository Receipts.
Every Depository Receipt has underlying shares backing it. The Depository Receipt is issued & traded outside the co…
Yes. A lot of debtors have trouble staying with the strict budget guidelines given to them in a chapter 13 bankruptcy. For that reason you can file for chapter 7 one time after a failed attempt at a Chapter 13. I would look into the differences between the two as it may be larger than meets the eye.
Your question may have been redirected here: We receive many questions on this topic and have compiled the commonly needed info in this one general answer: It isn't a number of times..it's defined by type of BK and years in between. It is a FEDERAL law (and a special FEDERAL court system exclusively…
Yes. If the trust is not a true trust (i.e., the settlor, trustee and beneficiary are all the same person) or if the trust is revocable, the trustee can pursue the trust assets. If the debtor is the beneficiary of a living trust and can or has gotten a distribution of some of the trust assets, the…
Especially in todays and the forseeable future credit environment, probably not. The previous answer was erased as commercial and out of Wiki guidelines; New mortgage, new debt? Well, real tough - not impossible. Especially with the concerns over subprime lending in todays market (which you by bei…
After the Chapter 13 plan is approved, whether the rental is included in the proposed plan or not. Until then the trustee holds all your assets in the bankruptcy estate. Once the plan is approved, you become the "debtor in possession" and can manage your property as long as you don't try anything il…
indalex and it's 4 holding companies have filed for chapter 11 bankruptcy protection in us court in Delaware
A promissory note is a document where you agree or promise to repay a certain amount of money to someone. If it is unsecured, it means that nothing was put up as collateral to back up your promise [such as a house, a car, stocks, etc. ].
If you have good enough credit you can theoretically buy a car at any time. However going bankrupt pretty much destroys your credit, but you still my find a dealer willing to sell a car to you.
The international standard is called A4. It measures 8.27 inches by
The North American standard is called "Letter." It measures 8.5
inches by 11 inches.
Why do you think the bank has to do anything? You signed a document filed with the court called "Statement of Intention" in which you said you were surrendering the motorcycle. You have to go to the bank and give them the keys and tell them where the vehicle is. They may direct you to take it to a s…
Only with permission from the BK court.
If you can find a lender who will accept your signature, sure. Unlikely.
By not making your payment to the trustee. He will see you fell behind, and file a motion to dismiss your case. OR, pay back the entire amount you owe in a lump sum.
you can actually spend it all, and if you are going to go bankrupt, start spending, buy clothes and furniture and stuff, the creditors will have the opportunity to show up at the meeting for the sake of argument, but they usually never do and they really don't want the clothes off your back. ans Any…
Yes. The federal court system has exclusive jurisdiction over bankruptcy cases; they are heard in US Bankruptcy Court.
Not always. There are some exceptions. The most common situations when cancellation of debt income is not taxable involve:Qualified principal residence indebtedness: This is the exception created by the Mortgage Debt Relief Act of 2007 and applies to most homeowners.Bankruptcy: Debts discharged thro…
Creditors whose debts have been discharged may not pursue further debt collection. Make sure that the debt was discharged. If the debt was discharged send a certified letter to the creditor and enclose your "Discharge of Debtor" paperwork you received from the U.S. Bankruptcy Court. Sample Letter: N…
Alimony and child support is considered to be non-dischargeable.
You don't- the creditor gets to keep what he has garnished up to that point. If you file BK, the BK trustee might force the creditor to return some or all of that money. But even if that happens, that returned money will be re-distributed to all your creditors- you personally would not be getting th…