You cannot get it off of your credit report. You can get the accurate information that the account has been handled in Bankruptcy court on __ date. You need a copy of your bankruptcy judgement. This shows how many and what accounts were written off or still need payment. You can send copies of this to the 3 credit bureaus.
USUALLY, this will help you get the problem mitigated. Not always though as the credit companies only need to respond to material sent in by their contracting clients.
If this is the case, when you get a copy of your credit report, sent in a 100 word or less letter to all 3 credit bureaus telling them what the situation is and they must print that out in all your credit records. This may or may not help, but it is better than nothing by far.
Yes. It is the most common reason for filing for bankruptcy. If the judgment creditor had an execution issued and attached any equity in your home, you may have a problem.
No. The creditor can foreclose on the property (and virtually always do) since that is the way they get your name off of the deed and someone else's name on it. And, during this foreclosure, they will list you as a defendant since you are the property owner until the sheriff sale takes place. But, when the judgment is rendered in the foreclosure, it should be an "in rem" judgment, which means against the property only, and not an "in personam" judgment, which means against you personally. If they do get an in personam judgment against you, it is usually a good idea to notify the court and let them know about the bankruptcy so they remove the in personam judgment.
No. Bankruptcy discharge does not mean the money isn't owed. It means that creditors cannot attempt to collect it. The money will always be owed. Accounts included in bankruptcy will stay on the cr marked included in bankruptcy, for the full seven years.
If the credit card was included in the Chapter 7, nothing happens. The account will be closed by the creditor and the amount owed including any accrued interest is wiped out.
You need to get the release from the courts and send it to the credit reporting agency to ask for it to be removed.
No. Sometimes it will be reported as "Included in Bankruptcy"
It depends on the specific circumstances and laws governing bankruptcy in your jurisdiction. Generally, once a judgment is discharged in a Chapter 7 bankruptcy, it cannot be reinstated. However, if there were any exceptions to discharge or if the judgment was based on fraud, it could potentially be reinstated. It is best to consult with a bankruptcy attorney for guidance specific to your situation.
Yes, most judgments can be discharged in a chapter 7 bankruptcy.
Yes. It is the most common reason for filing for bankruptcy. If the judgment creditor had an execution issued and attached any equity in your home, you may have a problem.
If you are sued and a creditor gets a judgment against you, you may be able to discharge your personal liability on that judgment in a Chapter 7 bankruptcy. This will depend on whether the underlying debt is dischargeable (meaning you can wipe it out in bankruptcy) or nondischargeable.
You should have no problems filing an amendment to add the creditor.
File a proof of claim
Yes. Any creditor can petition the court to be excluded from a bankruptcy. It is up to the judge (sometimes the BK Trustee) to rule on whether or not the request will be granted.
No. The creditor can foreclose on the property (and virtually always do) since that is the way they get your name off of the deed and someone else's name on it. And, during this foreclosure, they will list you as a defendant since you are the property owner until the sheriff sale takes place. But, when the judgment is rendered in the foreclosure, it should be an "in rem" judgment, which means against the property only, and not an "in personam" judgment, which means against you personally. If they do get an in personam judgment against you, it is usually a good idea to notify the court and let them know about the bankruptcy so they remove the in personam judgment.
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.. if someone files bankruptcy on as credit card does that a third party has charged on and the debt is cleared dose the third party continue paying for a debt that is no longer there
Any creditor not included in a bankruptcy discharge retains the right to continue attempting to collect a debt. That would include using legal remedy in the form of a lawsuit against the debtor.
yes