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In my settlement lump sums come every 5 years can the bankruptcy court take from me?
Wiki User
∙ 12y ago
Sure. It is currently an asset...you just don't have the cash yet.
Added: Check into this with the bankruptcy judge or ask the Clerk of The Court's office. There are SOME streams of income that are judgment free in a bankruptcy. You will have to check further to see if your particular one qualifies.
Wiki User
∙ 12y ago
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How soon after receiving a settlement from an accident can you file bankruptcy?
This will be considered an asset. You cannot file bankruptcy if you have a number of assets that can be used to pay your creditors. Depending on the amount of the settlement, you should wait years to file bankruptcy.
Is the word settlement as bad as bankruptcy in your credit record?
The word settlement is considered negative on your credit report. With a settlement, you are settling for less then the total amount due. Like bankruptcy, settlements will remain on your credit report for several years.
Is chapter 7 bankruptcy clear 10 years from court announcement or hearing date?
Chapter 7 Bankruptcy will be removed from a credit report 10 years after the date the Bankruptcy was FILED.
Does the court check with employers regarding bankruptcy?
No. The trustee, appointed in every case, might check with an employer in a rare case. In almost 40 years, I have never had it happen.
When in a chapter 13 bankruptcy for more than 4 years and receiving money for a 100 percent disability that happened after filing bankruptcy can bankruptcy take the settlement?
"Bankruptcy" does not take anything. The Chapter 13 Trustee is the one who "takes" anything there is to be taken. And, no, your settlement - if you mean a retroactive check for disability (SSDI) - is not available to the trustee. If you are talking about a settlement of a lawsuit, probably not, unless the cause of action existed at the time you filed the c. 13 and did not exempt any possible award. Talk to your bankruptcy lawyer.
How long do you have to wait to file bankruptcy again in Indiana?
Assuming it is federal bankruptcy, 8 years, the same in every state.
How long does bankruptcy stay on your credit in NC?
It stays on your credit report for 10 years in every state. Bankruptcy is a federal procedure.
What is the normal time before the discharge from bankruptcy?
A bankrupt is automically discharge from bankrupcy after three years from the date on which the bankrupt filed her or his settlement of affairs.
Bankruptcy or Debt Settlement?
A bankruptcy will be listed and hold your credit score down for 10 years, while the delinquent payments incurred while enrolled a Debt Settlement program will be there for only 7 years (and in some instance, even less). So at a minimum, your credit report will be cleared at least three years earlier when using Debt Settlement company as opposed to bankruptcy. Another important factor to remember is that a typical debt settlement program ultimately resolves your debts for much less than other debt relief options. And, unlike bankruptcy, you won't have to sell your house or other assets in order to free yourself of your liabilities. Also remember that there are several other debt help options out there besides Debt Settlement and Bankruptcy, such as Credit Counseling and Debt Consolidation Loans, and that each has their own upsides and downsides, so it is important to evaluate each carefully and examine how they fit into your overall needs and goals.
If you filed for bankruptcy and then changed your mind and never went through with it and it is showing up on your credit report how do you get it removed?
A dismissed bankruptcy whether voluntarily or done by the bankruptcy court will remain on a CR for the required 7 years.
How long do you have to wait to file bankruptcy after getting a car out of your name?
2 years, but a trustee might be able to use the state "look back" period where the bankruptcy court is located.
Can bankruptcies be expunged?
A bankruptcy remains on your credit record for ten years. It remains a public record in the courts forever. You can file a motion in bankruptcy court to have it expunged from the court records. If the motion is allowed, it will appear as though it had never been filed in the court because it will no longer appear in the public records.
