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Will your attorney receive his portion of an injury liability case even though you filed chapter 7 bankruptcy?
Wiki User
∙ 12y ago
depends on the length of time. was the injury cas before the filing or after.sometimes it takes a long time to get the money. if the case was before you filed then you have to pay the lawyer. the two also have different situations.if he represents you in a case due to his services, he gets the money. the chapter 7 bankruptcy has to do with outstanding bills occured. they are two different matters. but they can garnish any wages or income. so the lawyer will get his cut first. i worked for lawyers and the check goes there first.so there is no way around them.
Wiki User
∙ 12y ago
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How long does a chapter 13 conversion to a chapter 7 stay on your credit report in Wisconsin?
A chapter 7 bankruptcy filing remains on your credit report for 10 years. Chapter 13 bankruptcy remains for seven years. Under chapter 13 bankruptcy you repay at least a portion of the debt, so it is removed a little sooner.
Necessary to file a claim in chapter 7 bankruptcy?
If you want to have any chance of being paid any portion of what your owed.
Can a bank decrease unused portion of existing home equity line of credit after filing for chapter 7 bankruptcy?
if you want it to
What is chapter 7 bankruptcy liquidation?
A Chapter 7 bankruptcy is a "straight bankruptcy" where the assets are liquidated. This differs from Chapter 11 and Chapter 13 bankruptcies, where the company is reorganized. For more information see the related link.
1 A liability is classified as a current liability if it is to be paid within the coming year?
Yes current liability is that liability which is payable within one fiscal year otherwise it is that portion of long term liability which is payable within one year remaining portion will be long term liability.
Do charge offs go off if you file chapter 13 bankruptcy?
Charge off will still show up on your credit report as such as well as the bankruptcy. Chapter 13 requires the individual to repay a portion of the charged off balance this is a type of Settlement that the credit card companies/loan agengies will accept as legally binding agreement. Chapter 13 usually require a payment for 36 to 60 months.
How long will a chapter 7 bankruptcy appear on your credit report?
The credit accounts will appear in the credit portion of your report for seven years from their date of last activity. The legal item will appear in the public record portion for 10 years from the date of its' discharge.
Can you keep an insurance payment check if you have put the outstanding bill on your bankruptcy already?
Take it off your bankrupcy papers and pay the bill, at least the portion that the Insurance gave you. Check with your bankruptcy attorney, insurance agent or doctors office. Generally checks are sent direct to the doctor.
Does filing bankruptcy remove bad marks from your credit report?
No. What will happen is all the defaulted accounts listed in the bankruptcy will be marked as such.."included in bankruptcy". The credit history, late payments, judgments, etc. will remain the same. In addition to the scenario in the above answer: The bankruptcy filing itself will be listed in the "public records" portion of your credit report. The disposition needs to be listed also (the discharge). The "bad marks" (i.e., the accounts) will show on your credit for 7 years. The bankruptcy listing will show for 7 years for a completed and discharged Chapter 13 bankruptcy and 10 years for a discharged Chapter 7.
How is the bonds payable classified on the balance sheet?
Bonds payable is classified as liability in balance sheet. That portion which is payable in current fiscal year as current liability while remaining portion as non-current liability.
Payment on a portion of Accounts Payable will?
decreases the liability.
Can you do a loan modification if you are in chapter 13?
A Chapter 13 bankruptcy puts the entire debt collection process on hold to give the filers time to work out a court-approved repayment plan for a portion of their debts. Thus, because the process is on hold, a loan modification can not be enacted while a mortgage is currently under the supervision of the Chapter 13 trustee. However, it is possible to negotiate a modification of a loan with the mortgage lender during the bankruptcy. But it will be necessary to have the bankruptcy case voluntarily dismissed before the modification can be finalized and put into effect. Banks may not be willing to negotiate with the borrowers under the circumstances of a Chapter 13, though.
