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If you file. It will put a stay on your creditors and they will have to halt there collections. You need to contact a bankruptcy attorney to confirm.

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Q: You are being sued for s unsecured loan of 17000 dollars will chapter 13 bankruptcy stop creditors from taking your rental property?
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Related questions

Are vendors guaranteed payment selling a company in Chapter 11 Bankruptcy?

No, but generally they receive higher preference than unsecured creditors that issued credit prior to the bankruptcy, should the chapter 11 company go to chapter 7.


Can you still keep your vacation home if you file bankruptcy if there is no equity?

In a chapter 7, yes, you can keep your vacation if you have no equity in it. This assumes you have not run out and borrowed money against it knowing you were going to file bankruptcy. In a chapter 13, the equity is only relevant to the amount to be paid to the unsecured creditors. You don't "lose" the property.


What percentage of unsecured debt is paid to debtors in a chapter 13 bankruptcy?

Each Chapter 13 planis different. I have seen Chapter 13 plans pay nothing to unsecured creditors and I have seen plans that pay 100$ to the unsecured creditors. Most cases are much less than 50%. It just depends on how much income is left for plan payments and how much debt the debtor has.


Does bankruptcy attorney keep rental property income?

The answer to this question depends on whether you are filing Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, if the rental property has equity, meaning that the value of the property exceeds what is owed on the property, the trustee would almost definitely seize property and sell it to satisfy some or all of your unsecured debts.


What chapter proceeding the debtor surrenders his nonexempt property for division among his creditors?

The chapter that typically follows a debtor's surrender of nonexempt property for division among creditors is Chapter 7 bankruptcy. In Chapter 7, a trustee is appointed to liquidate the debtor's nonexempt assets to pay off creditors.


What does a creditors' committee do in a Chapter 11 bankruptcy?

court will appoint a creditors' committee, which generally consists of the seven largest unsecured creditors. Their function includes appearances at court hearings, participation in the plan of reorganization, and asserting possible objections


What happens to unsecured debts when a chapter 13 bankruptcy is dismissed?

The debts are still valid and creditors can continue with collection procedures including, in most cases, a lawsuit.


What is Chapter 1 Bankruptcy?

It is a voluntary (creditors) chapter 11


What percentage of unsecured debt is paid to the debtors involved in a chapter 13 bankruptcy?

The percentage paid to unsecured creditors in a Ch 13 is determined by your disposable income. Secured creditors get paid at 100%, house and car payments remain the same. What's left over gets paid out to those unsecured creditors who file proofs of claim. If a creditor does not file a claim, then that creditor does not get paid.


If you voluntarily have a chapter 13 bankruptcy dismissed will your creditors be notified of the dismissal?

Yes. If you voluntarily have a chapter 13 bankruptcy dismissed, your creditors will be notified of the dismissal.


What is a schedule F for a chapter 11?

A list of u unsecured creditors.


In chapter 13 bankruptcy do you have to pay your unsecured creditors 100 percent?

NO. Bankruptcy proceedings are used because you are not capable of paying 100% of your debts (otherwise your bankruptcy claim will be rejected by the court), and unsecured debts have greater chance of a lower amount of directed settlement from the bankruptcy trustee's work than secured debts (or certain excepted unsecured debts). Note that there is an excellent perspective book both about Chapter 7 and Chapter 13 bankruptcy: "The New Bankruptcy, will it work for You?" 3rd edition (published in 2009 by Nolo), by Stephen Elias (a bankruptcy attorney). In the public library system for Colorado Springs, I found it at 346.078 E42N (Dewey decimal system).