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Why would a creditor object to a debt being discharged if the debtor no assets and very little income?
It's according to how much you owe. If it's a large amount they may give you a hard time. You them need to go in front of the trustee and be able to prove why you needed to use the credit card. It may be do to a change in income, illness, high prescription cost, needing to buy food on it, etc.
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No, discharge of debts through bankruptcy do not create taxable earned income. However, you can have Capital Gains or Losses if any real-estate was disposed in that bankruptcy….
It is an asset
A creditor is someone YOU OWE money to. A debtor is someone who OWES YOU money.
What is a legal proceeding for distributing to creditors the assets of those unable to pay their debts?
A debtor is someone who owes you money. A creditor is the person that lent the money.
Debtors are people who owe money to creditors. Creditors are people who are owed money by debtors. For example, the bank is a creditor allowing people to take out loans and th…e people taking out the loans are the debtors.
You may have a category of sundry, or miscellaneous, creditors on the books for occasional or small vendor relationships, rather than setting up a separate vendor accou…nt for these infrequent. If we provide some services to the vendors they are paying for our services therfore the person who are paying us becomes our sundry debtors.
You may have a category of sundry, or miscellaneous, creditors on the books for occasional or small vendor relationships, rather than setting up a separate vendor account for …these infrequent... If we provide some services to the vendors they are paying for our services therefore the person who are paying us becomes our sundry debtors sundry creditor shows credit balance.
A no Asset Debtor is a person who has applied for an alternative to bankruptcy through the No Asset Procedure. If you haven't applied for entry into a No Asset Procedure by fi…ling a notice with the Official Assignee, select no.
If we provide some services to the vendors they are paying for our services therefore the person who are paying us becomes our sundry debtors.
Loaners and borrowers
Well, first you get some bacon, a frypan and a stove and cook it on medium heat for 5-10 minutes until crispy and browned.
debtor is you lent money to and creditor is someone own you money
No, they can't. Assuming they were included in the bankruptcy proceedings and did not file a counter suit for dismissal and win. If they were included, the banruptcy was gran…ted they are violating a court order by trying to sue you. Which is, obviously illegal.
Can a discharged bankruptcy be reopened in Texas four years after discharge if a debtor acquires liquid assets over four years after the discharge?
A bankruptcy can almost always be reopened. Unless the "liquid assets" were available to the debtor at the time of filing or fall into one of the categories (gambling winnings… or inheritance) that had to be reported within 6 months of discharge, four years is way too late to go after them. Even in Texas.