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There is no reason to repay a loan after a discharged bankruptcy, if you have done so, you can reclaim all your money from the creditor (you'll have to go through court).
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∙ 14y ago
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If you file chapter 7 bankruptcy does that eliminate paying back the parent plus college loan?
Student loans are exempt from bankruptcy as are IRS debts
If your bankruptcy has been discharged but your house is still in your name do you still have to pay back taxes?
A bankruptcy is not discharged. Debts are discharged. Real estate taxes are a lien on the real estate and would not usually be discharged. Talk to your bankruptcy layer.
Is bankruptcy worse for your credit than having a judgment against you and paying back the debt?
Yes. Paying back is obviously viewed better than not doing so...regardless, or maybe especially if, the amount not paid was legally discharged.
Can you get your car back after a repossession if you file chapter 13 bankruptcy?
In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy
Is it better to declare bankruptcy or have your car repossessed?
BK only stops the repo process until the BK is discharged. BK does not mean you can keep the car without paying for it. My opinion? Give the car back.
After 10 years could you go back into bankruptcy?
Yes, after a bankruptcy has been discharged (a 10 year period if chapter 7 was filed), the possibility of filing bankruptcy again is open. If you live long enough, you can file several times. This gives new meaning to the phrase, "Live long and prosper."
Can back child support be claimed on a bankruptcy?
No. No aspect of child support will be discharged or lessend by BK
What is filing bankruptcy?
Bankruptcy is a legal tool individuals and companies use when they are no longer able to repay debits. In the United States their are two sorts of personal bankruptcy. 1) Chapter 13 Bankruptcy, or reorganization Bankruptcy lets an individual work with their creditors to pay back debts without the threat of foreclosure or harassment. This lets someone do the right thing and pay people back. 2) Chapter 7 Bankruptcy is a more extreme step. During Chapter 7 one continues to make essential payments while paying nothing to other creditors. Next, all assets are liquidated and distributed to creditors.
Does bankruptcy protect you from paying back taxes?
No, the IRS always gets its money.
If a person files bankruptcy and it is discharged and closed it does not they can still take the inheritance to pay back creditors?
Once the debt is discharged, a creditor cannot reinstate it, even if you win the lottery.
What does bankruptcy do to you?
Personal bankruptcy can do two things. 1) Chapter 13 Bankruptcy, or reorganization Bankruptcy lets an individual work with their creditors to pay back debts without the threat of foreclosure or harassment. This lets someone do the right thing and pay people back. 2) Chapter 7 Bankruptcy is a more extreme step. During Chapter 7 one continues to make essential payments while paying nothing to other creditors. Next, all assets are liquidated and distributed to creditors. Bankruptcy is the really last resort and only you know whether you go to this route. I have filed bankruptcy and it worked well because of the help from the financial advices. http://freshstartsolutions.com.au/bankruptcy/ It is really important to seek an advice before making decisions.
Do you have too pay any of the mortgage back after a chapter 7 bankruptcy?
no you dont have to
