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If you voluntarily let a leased car go because you can not afford it following a bankruptcy will they chase you for the remainder of the lease payments or vehicle value?
Wiki User
∙ 12y ago
Joey, that's a good question to ask your B/K attorney. S/He would be more familiar with your states B/K code.
Wiki User
∙ 12y ago
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We filed chapter 7 bankruptcy. When can the bank take the house?
When you either voluntarily give up the house or you stop making payments (foreclosure).
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
Can the mortgage company at any time take your home away if you are still making payments after bankruptcy?
Ususually in BK a house is either voluntarily surrendered, because it is not possible for the borrower(s) to keep up payments.. Or the buyer reaffirms the loan with the lender and works out a plan to repay missed payments. If your mortgage payments are current, I see no reason why the lender would seek foreclosure.
Are bankruptcy payments tax deductible?
Absolutely not. Bankruptcy payments are repayments for debts that you incurred in the past and did not pay. There is no circumstances where these could be deductible on your income taxes.
What bankruptcy can you file to keep your home if you are behind in payments?
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
If you have never been late on mortgage payments and file bankruptcy can the trustee make you sell your house to have more income to pay creditors?
If you have a lot of equity they can take your house, but if your loan is about what the house is worth then they don't want it..... They want to be able to sell somthing to pay the creditors.... It is very rare for a home to be seized and sold in bankruptcy; generally it is done voluntarily by the debtor/filer because they cannot manage the mortgage payments or a reaffirmation agreement is not possible. The state homestead exemption is what protects a home from a forced sale in bankruptcy or in a creditor lawsuit.
Can you file bankruptcy in Ohio then move to Germany before the bankruptcy is complete?
Yes, you can move anywhere you want to, but if you are paying payments (Chapter 13) you are still legally obligated to make the payments.
How much debt can you have before filing for bankruptcy?
There's no maximum amount. If you can't make your payments you file bankruptcy.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
Can one put car payments on their bankruptcy?
You not only can, you must. All creditors must be listed in any bankruptcy filing.
If you are current with your bankruptcy payments will the IRS keep your income tax check?
No
Can chapter 13 bankruptcy payments go up?
Yes, they may.
