0
If you owed 11000000 how much would you have to repay in chapter 13 bankruptcy?
Wiki User
∙ 14y ago
Like in any BK, what you owe is only a part of the story. If you also had 11M of assets, (say your nice boat and beach house)...you would pay it all back. But you would not be able to use C-13, as that has $ limits that you probably exceed.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If someone filed Chapter 7 Bankruptcy and wanted to repay some of the debts listed in full would that bring their credit with those creditors into good standing on their credit report?
No-the accounts have been discharged in bankruptcy.
What is in chapter 7 for bankruptcy information?
In Chapter 7 bankruptcy, you would achieve the end ultimately faster, and basically be able to restart your financial life sooner. It is the most common form of bankruptcy and debts would be discharged months after filing the bankruptcy.
Can you file Bankrupcty on medical bills?
Yes, it is one of the most common reasons for bankruptcy filings. But, you must prove to the court that you are unable to repay the debt. Just incurring a medical bill does not entitle someone to successfully file bankruptcy and discharge the bill so you are no longer required to repay it. If by being required to repay the bill would make you homeless and lacking of basic necessities of life you will probably be able to successfully file. On the other hand if the court decides that your situation is such that you could repay - over a period payments and you would still be able to have the basic necessities like food, home, etc. Then a limited form of bankruptcy occurs, called a Chapter 13.
How much would your payments be on chapter 13 bankruptcy on 100 000?
A chapter 13 bankruptcy on 100,000 dollars would cost around 500 dollars a month. This estimated on how much stuff a person has.
If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?
Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.
Which bankruptcy is for a home?
You can file either Chapter 7 or Chapter 13 as a homeowner. If you are trying to save the home from foreclosure, then Chapter 13 would be the proper chapter.
How would you get a chapter 7 bankruptcy removed after 7 years?
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.
Would our judgment awarded by courts prior to defendants chapter 13 bankruptcy take precedent to the assets before the assets are taken in the bankruptcy?
No.
If you are in bankruptcy can you still purchase a new or used car?
If it is chapter 7 and has not been discharged then, no. If it is a chapter 13 then the bankruptcy filer would need the permissin of the trustee to make any major financial transactions.
Can you claim a chapter 13 bankruptcy if you have any equity in your house?
Yes. That is probably one of the times this would be the correct Chapter to use.
Unmarried couple have a mortgage together no equity and its in foreclosure. Can he file a chapter 13 alone and repay both shares of arrearages or do I have to file too tho we have no other joint debt?
I am pretty sure that him filing chapter 13 would only cover his debts. If you contact a bankruptcy lawyer they can lead you in the right direction, but I think you would still have responsibility being that you are also on the mortgage.
Would filing chapter 7 bankruptcy clear foreclosure from your credit report?
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
