What would you like to do?
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.
156 people found this useful
Was this answer useful?
Thanks for the feedback!
How long after a discharge do the creditors have to report to the bureaus that the debt owed to them was discharged and no longer owed?
They don't. Despite popular publicity, all a Bankruptcy discharge does is halt the actual collection efforts of creditors, the balances owed itself still remain and always ref…lect your credit history negatively anywhere from 7 to 12 years. In other words if you win a bankruptcy case, you are protected from harrassment and for example if one of your debts was a broken apartment lease no apartment agency in America has to rent to you (or allow you to so much as reside on their property with someone else paying!!) unless the entire balance is paid in full on top of whatever security deposit they may require, which if you filed for bankruptcy I'm going to tell you now will be about 66% or two thirds of the entire lease value since such an action holds about the same weight as a felony record as far as credit and now many employers are concerned, unfortunatelty... hope this helps. You are wrong, Matt. A debt discharged through bankruptcy no longer exists.
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 grant…ed they are violating a court order by trying to sue you. Which is, obviously illegal.
Is there a form to file a Motion to Amend a discharged no-assets Chapter 7 and add previously unknown creditors of debt incurred before filing?
Answer . \nNo, there is not an option for reopening a discharged BK to add creditors, such action only applies to assets or income that was not included in the original fil…ing.
Answer . Yes. Suprisingly it is a fairly low (I believe 7th position) claim against the assets. . Answer . Generally speaking, income tax debt can be discharged if t…he tax was assessed more than three years prior to the filing of the bankruptcy petition. Note that it is from the time the tax was actually assessed against you (generally the date you filed the return). So if you filed your 1999 tax return 5 years late, you'd still have a bit of a wait before that would be dischargeable under bankruptcy.
A debtor is someone who owes you money. A creditor is the personthat lent the money.
Just a few tid bits about this divorce. This wife was arrested for having an affair with one of her students (under the age of 16). Just prior to getting arrested she spent 3 …weeks in a treatment facility for alcohol dependency and an eating disorder. She checked herself out of treatment before the facility thought she was ready. The affair with the student lasted over 4 months and included sex multiple time and in the couples home. She was know in the community as the drunk around all of the childrens parents. The husband received Temporary Sole Managing Conservator in the temporary orders and she received only very limited supervised visits and NO over night stays with the children. The husband has hired a very good lawyer. He is just curious what to expect from everybody as he moves forward with him and the kids. What should he expect as far as the percentage of assets he should get and also the debts of the family? Should he not receive a greater portion of the assets? He filed for a "fault" divorce for adultry and cruelty and has possession of the children. Also, What are the chances the current visitation schedule in temporary orders will be change upon final decree? Thanks in advance!
When judgment entered against debtor is creditor held to any oral settlement agreement to pay off debt made between debtor and creditor?
Not unless it is in writing unfortunatly.
Loaners and borrowers
The estate is responsible for payment of debts. If the estate is insufficient it is deemed to be insolvent and the creditor is out of luck.
The failure of Reagonomics, also known as "Supply Side Economics", or "Trickle Down Economics"
The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.
First, there is no law that allows a creditor to sell property owned by a debtor. Rather, the creditor seeks a court judgment against that debtor and the court decides how the… debt will be paid if the debtor is unable to do so out of their liquid accounts. Second, the property must be linked to the debt in some way. For example, repossession of a car for an unpaid auto loan, foreclosure on a home for an unpaid mortgage. A credit card company cannot go directly after the property of a borrower that did not pay - rather, they must seek judgment to do so AND the court must provide for the sale of property. Finally, the creditors must follow fair debt collection practices, meaning that there is a long time between liquidating any property and determining that the debtor will not pay. Collections processes generally run up to 180 days and subsequent court proceedings (e.g., foreclosure or civil suits) will take some time as well.
A debtor would favour inflation; the debt would be repaid with money which is worth less than when it was borrowed.
There is no such thing as extradition for a civil/tort case.
debit and credit boi