A bankruptcy doesn't dismiss another legal action, like a judgment. But you can include the plaintiff's claim in your bankruptcy. The judge may allow this debt and discharge it along with all your other obligations.
Yes. Some judgments can be discharged in bankruptcy. Judgments that have been perfected into property liens cannot as the judgment holder becomes a secured property creditor. Judgments awarded in conjunction with personal injury or property damage caused by negligence are generally not dischargeable.
Perhaps, many judgments can be discharged in bankruptcy. The ones which are allowable are determined by state and/or federal laws, depending on the type of bankruptcy chosen.
Yes, you can. If the judgment involved a claim for fraud or intentional harm, or was for a student loan or child support, it may not be dischargeable
That's a difficult question to answer as asked because it depends on what kind of judgement. The answer is: probably
Filing for bankruptcy will have no effect on any judgement that has been applied against your dirvers license.
If you are filing bankruptcy, you should have a bankruptcy lawyer onboard, and this is a question for him or her to deal with. You do not want to go through a bankruptcy on your own, especially as the bankruptcy rules have changed.
If you are sued and a creditor gets a judgment against you, you may be able to discharge your personal liability on that judgment in a Chapter 7 bankruptcy. This will depend on whether the underlying debt is dischargeable (meaning you can wipe it out in bankruptcy) or nondischargeable.
Yes, if it is not a perfected lien against real property and the debt was discharged in the bankruptcy.
Yes. Consult a knowledgeable bankruptcy attorney.
No - having had a car that was re-possessed will not affect the filing of a Bankruptcy.
Yes. It is the most common reason for filing for bankruptcy. If the judgment creditor had an execution issued and attached any equity in your home, you may have a problem.
You become the only person responsible for the debt. Your friend's obligation to pay the judgment ends once your friend gets his or her discharge order from the bankruptcy court.
To get technical, a bankruptcy does not "dismiss" a judgment. However, the end result is the same- a bankruptcy will "discharge" the debtors responsibility to pay the judgment which makes unenforceable - uncollectible. It is against Federal law to try and collect funds that have been discharged in bankruptcy. Prior to the discharge in a bankruptcy, and IMMEDIATELY after the filing of your bankruptcy petition, an "automatic stay" by the court is put in place to freeze all collections actions against you. There are several exceptions which include certain taxes, student loans and fraud.
If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
Yes, unless the judgment was a result of fraud. If the judgment creditor has filed a judgment lien against any of your property, you will need to take the additional step of filing a petition under Section 522(f) of the Bankruptcy Code to remove the lien. Be sure to tell your attorney about any liens that you might have against you.