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If you signed a promissory note with no repayment plan can you file for bankruptcy?
Wiki User
∙ 15y ago
Your question is perplexing.
If you mean you received a loan without any official structured obligation in it to repay, well then you can't be in default on it. However it is a debt. A BK encompasses all debts (liabilities) and all assets, not just those you want or are in default on.
In a C-13 there would be a repayment plan established, but that is after you file, not before.
Wiki User
∙ 15y ago
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If you have signed a promissory note with a five-year repayment term and you file for bankruptcy will you be protected from repayment of the debt?
Unless you committed fraud, the answer under most circumstances, yes. If you pledged any collateral as security for the loan, the creditor's lien on the collateral would survive. The creditor would have 60 days after the meeting of creditors to file an action objecting to your discharge. If the creditor took no action, the debt on the promissory note would be discharged.
If you have a promissory note based on a business loan and you file bankruptcy on that business loan is the promissory note still valid?
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
Can you file bankruptcy on Nelnet loans?
I am in chapter 13 with part of nelnet loan as repayment. Not sure why they did not file total loan in the plan
Can you file for bankruptcy if you have signed a consent judgment?
Yes, you certainly can.
Can you file bankruptcy on a debt owed to the IRS?
Yes you can file bankruptcy. Whether or not it is dischargeable is another matter. In a Chapter 13, it could be included in your repayment plan. Not sure how it works in a Ch 7.
Do you keep a tax refund after bankruptcy?
Has the chapter 13 bankruptcy been discharged (completed)? If not then in your bankruptcy agreement for repayment it probably states that you must surrender any tax return to the repayment schedule. Read your entire agreement and consult with your attorney to be sure.
Your wife and you are preparing to file Chapter 7 bankruptcy and have co-signed everything do you have to file jointly?
You have to file Joint, not only have you both co-signed everything but she responsible legally by marriage.
Can you file chapter 13 because of gambling addiction?
Yes, you can file for Chapter 13 bankruptcy if you have a gambling addiction. However, you must demonstrate that you have a feasible repayment plan to satisfy your debts as part of the bankruptcy process. It is essential to seek advice from a bankruptcy attorney to navigate this complex situation.
Can you file bankruptcy for your student loans and keep your house out of it?
If the student loan is a federal loan and not a private loan then the answer is no. Federal student loans can not be included in bankruptcy, you will always be responsible for repayment of FEDERAL student loans.
If you are trying to file bankruptcy and two accounts are paid off by cosigners can you still file bankruptcy on your remaining debts?
Yes. However due to the new bankruptcy reform the party involved may have to file whichever type of bankruptcy the trustee feels is applicable. The point of the reform is to prevent multiple BK filings. The premise is, if the debtor has even a small amount of nonexempt income it is to be used for repayment of debts.
You loaned money to owners of a business they signed an on demand promissory note how do you file the lien on the property?
You will need to take the person to court. Once you have a judgment in your favor you can then file a lien with the courts.
You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
