The Chapt. 13 can more than likely be converted to a 7. What happens to property depends upon the exemptions that are allowed under the law, and how the trustee interprets them. Generally the person is allowed keep one vehicle that falls into the exemption guidelines. Exceptions can sometimes be made, for example if the person or a person(s) in the household are handicapped. Please see link to this answer for further information on LA. bankrutpcy.
If the bankruptcy is discharged you are no longer responsible for the debt.
You may be referring to the discharge of debts in bankruptcy. Not all debts can be discharged. Most discharged debts are partially discharged in Chapter 11 and Chapter 13 actions. Debts or the portions thereof that are discharged no longer exist at law and creditors no longer can attempt collection. It is a "fresh start". You attorney can advise you as to which debts are likely to be discharged, which ones reorganized, and which debts will likely not be discharged.
Louisiana
The battery is as flat as a pig's nose !
Most likely. They are two separate issues.AnswerYes. It will show that you no longer owe the debt, as well. AnswerIt MAY show up, however, if the debt for the vehicle was discharged in bankruptcy, it cannot be reported. There can be no negative reporting on a discharged debt - not even for a voluntary repo. If the vehicle was surrendered as part of the bankruptcy, the loan should show as a ZERO balance, no past dues, and 'included in bankruptcy' on your credit report.
In Louisiana, parents are no longer responsible for minors when they turn 18 years old. Minors in Louisiana can legally leave home at the age of 18 without needing parental consent.
because it was an older version.
All debts and assets have to included in BK. After a Chapt.7 is discharged the debtor can make arrangements with secured creditors to reaffirm the debt(s). They also have the option of paying creditors if they can work out an acceptable agreement. BK does not mean the debt is no longer owed. It means creditors cannot make attempts to collect the debt, such as a lawsuit. Wrong answer, Nikki. A discharge in bankruptcy means that the discharged debts no longer exist. Perhaps you are confusing the statute of limitations on collections?
Any debt discharged through BK is cleared and no longer exists. The debt may no longer exist but the lien against the property still exists. While you do not have to pay the loan, the note holder can still take possession of the property.
Actually the phrase reads the other way around.... "bond discharged." It means that you are no longer required to have money or property posted with the court to assure your appearance (i.e.: Your bond is discharged.).
The debt collector cannot change the date of anything, legally. If the account was discharged in bankruptcy, everything up to the filing date is not owed any longer.
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