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How do you remove a state tax lien which was discharged in Ch 7 bankruptcy 3 years ago?
State statutes govern the execution and/or the lifting of liens against real property. Therefore you will need to consult the laws of your state of residency.
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If you work hard enough and have enough money for it then yeah ans No. Anyone claiming they can remove or change the accurate history of your past should be considered a sca…m artist. As all conumer affairs and agencies keep on trying to make everyine aware of. YOU can improve your future, but the past is and will remain what it is. Bankruptcy, on a credit report will remain for at least 10 years. In fact, credit reports are provided by indepndent, private companies that are paid to report things they can find. Most requests follow a standard format which ask for it as above. However if someone requests a history for a longer time, they are happy to do so, for a fee. Your BK as a Federal court record, is available and on record for an almost perpetual period of time. No one (except the BK court and judge) can have that history changed or expunged. Period.
No one. Liens can only arise on valid debts. They can be statutory (such as a mechanics lien) or judicial ( a judgment lien). However, bankruptcy discharges the underlying deb…t, unless the debt was one not subject to discharge (such as taxes of a student loan). These creditors can pursue these debts, receive a judgment and enforce collection through a judgment lien.
Answer A Chapter 7 bankruptcy will remain on the credit report for the requrired ten (10) years. There are not options for having it expunged sooner.
Chapter 7: This chapter of bankruptcy law provides for a full liquidation of an entity's non-exempt property to satisfy creditors, and discharges all dischargeable debts …This is a legal process under Federal statutes that provides for rehabilitation of a debtor through the discharge of certain debts or through a debt repayment plan over a certain period of time. Creditors cannot contact the debtor during the bankruptcy. They must wait until it is fully discharged. There are three chapters of bankruptcy Answer I can't give a definitive answer, but I can relate what I have seen. I suppose to get a definitive answer one would need to look at the Tax Code, and I stay as far away from that as possible. However, I have never had a client come back and say they had any negative tax implications as a result of discharged debt in bankruptcy. I know the IRS can normally pursue forgiven debt as income, but for some reason (either because the Tax Code doesn't permit them to or because they simply opt not to) the IRS has never pursued any of my clients for forgiven (discharged) debt in bankruptcy to my knowledge. I have had a couple of situations where mortgage companies sent tax statements to clients who surrendered real estate in bankruptcy, but so far we have managed to get those resolved without any negative tax consequences. 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. Answer While cancelled debt is typically includible under the Internal Revenue Code as gross income, there are certain exceptions: 1. Debt that is cancelled through a bankruptcy is NOT taxable as income, 2. Debt cancelled when you are insolvent is NOT taxable as income to the extent of your insolvency. Therefore, there are no tax implications and it does not have to be reported on the tax return. The creditors will send you a 1099-C for cancellation of debt, but they should also check the "bankruptcy" box. Make sure they do this. :)
You filed chapter 7 bankruptcy 3 years ago If you foreclose now on your house can they still come after you for money after a auction?
Answer If you reaffirmed the debt during your bankruptcy case, or if you signed new mortgage/note paperwork after your bankruptcy, then they CAN generally come a…fter you for a deficiency balance if the home does not sell for enough to pay off the debt. If you did NOT reaffirm the debt during the bankruptcy case, or did NOT sign any new notes afterwards, then they usually can NOT come after you for any deficiency balance from a foreclosure sale afterwards. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
Property taxes are not in your records so you dont have to worry about them, if your home goes to foreclosure and bank that owns the house will have to pay those taxes if thy …want to sell the home in the future, property taxes will be in the house records not yours ans The above is one opinion...likely not to be found any place else. Property taxes, while of record against the property you own, are the owner of the properties obligation. Taxes, including property taxes, are, like all debts and all assets, whether recorded somewhere or not, included in BK and as such will be handled as a pre-petition liability. They will be settled, albeit frequently paid in full because of their position in BK prorities, but also depending on the assets you have to settle other items. (BTW, if you were to maintain accounting records - say like a business, your property tax accrued liability would in fact be recorded there, like any other debt/payable). If your mortgage is in fact foreclosed, the taxes will not be part of the debt the bank or successful bidder needs to be concerned with as they will be settled by the bankruptcy estate.
How do you remove liens and judgments from your credit report that were discharged in a Chapter 7 almost 2 years ago?
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. Lie…ns are secured debts and may or may not have been discharged. Undischarged debts may be reported up to 7 years after your last account activity. You are probably referring to the "Public Records" part of the credit report. In that case you can't. Court cases are a public record, even if its dismissed, unfounded, you win, etc. All the CRAs do is searh for your name in courts across the country. If they find a case, it goes on your credit report along with the type (Judgement Lien, Foreclosure, etc). If you sue someone else, it can show up on your credit report. Here are more opinions and answers from other FAQ Farmers: . You cannot remove the lien that was in the bankruptcy, but you can contact each of the repositories, equifax, experie and transunion with a copy of the bankruptcy list of creditors and have them listed on the credit report. This way it will show the creditors being included in the bankruptcy which will show they are no longer open accounts and raise your score. . Your bankruptcy attorney should have removed any judgment liens on exempt property during the bankruptcy. This is done by the filing of a Motion to Avoid Judgment Liens or a Motion to Avoid Liens on Exempt Property. If this was not done, most Bankruptcy Courts will allow you to reopen a case to avoid liens. It might be cheaper to pay the lien or negotiate a settlement. Call both the lien holder and your lawyer to determine the cost of either action.
ALL assets and ALL liabilities are included. Each are given different priority. Taxes are a liability. They are included and given their priority.
Absolutely not. Even in the BKs with the highest powered of lawyers...and Corporations....the last things done before filing BK is pay the sales and withholding taxes! In …most all states or taxing jurisdictions, (with California being one large notable exception), these are not taxes on "you", but money the business collects from others (customers or employees) on behalf of the State. They are trust funds....they not only won't ever be discharged....they carry direct, pierce any corporate shield, to the officers and involved parties, responsibility. Better take care of them one way or another ASAP. In the few places they may be legally considered the responsibility of the vendor, they may be discharged in the BK, (as situational as anything else), and would be a priorty claim and even allowed an extended bar date for filing a proof of claim.
What is reported is not under your control (unless you can prove it is erroneous). The one reporting it is the one to remove or change it. They of course need to be given a re…ason to release the lien. By satisfying the lien, that is paying it, so there is no more lien, while it will if not be removed from the report, it will be shown as satisfied and no longer a claim. Answer Only the credit bureaus or the one who reported the tax lien can remove. The credit bureaus will remove it if you dispute it and it isn't verified with in 30 days.
If you have a tax lien and judgment removed and are added to a credit card with 3 years of perfect history how much will your credit score to go up?
Why don't you get your credit scores before and after these events take place and let us know? Oh, but of course, your information would only pertain to your particular credi…t file at this particular point in time. That's the trouble with questions about credit scores. Those pesky scores are calculations that are performed upon request, just like someone taking the measurements of a growing child. The data can and does change constantly and would take into consideration ALL the information in your file, not just what is contained in your question. Relax and know that you will experience an INCREASE in your score, whatever it is, from the events you asked about. And good luck with whatever you are trying to do by raising your credit score!
If you filed for Chapter 7 bankruptcy on ten years ago what is the date that this should be removed from your credit report?
If you filed on May 20, 1994, then the statute of limitations for that will be up on May 20, 2004, and should then be deleted from your credit history. The rule is 10 years f…rom the date filed. Hope this has been a help!
How do you reopen a Chapter 7 case and petition to remove a lien showing from a discharged judgment?
A debtor who wishes to reopen a closed bankruptcy case to remove a lien normally has to first file a Motion to Reopen the bankruptcy case with the Bankruptcy Court. The Bankr…uptcy Court charges a $155.00 fee to do this (as of today's date, 2/25/05). If the debtor hired a lawyer to do this for him or her (highly advisable) then there will also normally be attorneys fees that the debtor has to pay as well. Once the case is reopened by the Court, the debtor (or more likely his or her attorney) then has to file a Motion to Avoid Judgment Lien pursuant to 11 U.S.C. 522(f)(1). It should be noted that NOT all judgment liens can be avoided by 522(f), only those that "impair an exemption of the debtor" pursuant to 11 U.S.C. 522(f)(2). One should speak to attorney about this. 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.
What form do you need to file to have a lien removed after the debt has been discharged in bankruptcy?
Answer A debtor who wishes to reopen a closed bankruptcy case to remove a lien normally has to first file a Motion to Reopen the bankruptcy case with the Bankruptcy …Court. The Bankruptcy Court charges a $155.00 fee to do this (as of today's date, 2/25/05). If the debtor hired a lawyer to do this for him or her (highly advisable) then there will also normally be attorneys fees that the debtor has to pay as well. Once the case is reopened by the Court, the debtor (or more likely his or her attorney) then has to file a Motion to Avoid Judgment Lien pursuant to 11 U.S.C. 522(f)(1). It should be noted that NOT all judgment liens can be avoided by 522(f), only those that "impair an exemption of the debtor" pursuant to 11 U.S.C. 522(f)(2). One should speak to attorney about this. 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.
Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than e…ight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
There is no wait period.