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Your car was repossessed because you was unable to make full payments. your bankruptcy lawyer said the terms of your bankruptcy discharge relieves you of that debt. Is this true?
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∙ 18y ago
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Do chapter 7 bankruptcy relieves you of a mortgage in a divorce but the spouse stills lives in the home?
Filing for Chapter 7 bankruptcy will discharge your personal obligation to pay the mortgage, but it does not remove the lien on the property. Therefore, the mortgage lender can still foreclose on the home if the mortgage payments are not made. In a divorce, the issue of who is responsible for the mortgage payments would typically be addressed in the divorce settlement or court order.
What happens when you file bankruptcy on your house?
I assume that you live in the United States... Don't think that you can "pick and choose" debts to include in your bankruptcy case. A lot of lawyers get this wrong. When you file bankruptcy, all your debts must be listed...under penalty of perjury. A Chapter 13 bankruptcy allows you to keep your house, cure your missed mortgage payments, and resume your future mortgage payments. You must have sufficient income to get a Chapter 13 plan confirmed by the court. In Chapter 7 bankruptcy, you don't have to give-up the equity in your house (as long as the home equity doesn't exceed applicable dollar-limits, and the house otherwise qualifies as your "homestead" under applicable law). The discharge order relieves you of your personal liability for the mortgage loan (as long as you don't sign a reaffirmation agreement). The mortgage lien survives the case. Chapter 7 can temporarily delay foreclosure, but it doesn't help you cure past-due mortgage payments if you are trying to save your house.
What are the rights of a cosigner when the primary filed bankruptcy then didnt pay the bankruptcy so the bankruptcy was dismissed?
As a cosigner, you are not at all protected if the primary signer files for bankruptcy. In many cases, filing for bankruptcy relieves the primary signer on the loan from his obligations towards the loan, at which point the lender will turn to the cosigner for payment. You'll either have to pay the loan or file for your own bankruptcy (if necessary).Unfortunately, you're stuck with the loan regardless of whether or not the primary signer successfully completes his bankruptcy filling. You may want to contact a bankruptcy lawyer for some additional advice or assistance.
Why can a trustee take your income tax return if you are filing a chapter 7 bankruptcy which relieves you of your debt and does the trustee give the money to the creditors?
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
What is pinellia used for?
pinellia is particularly useful for chest complaints. It relieves coughs and cuts through mucus, being especially good for sinus congestion and nasal discharge.
What element relieves hypoxia?
Oxygen relieves hypoxia.
Is it true that chlorine relieves the itch from poison oak?
yes chlorine relieves the itch
What is an antiallergenic?
An antiallergenic is a substance which prevents or relieves an allergy.
A Drug which causes sleep and relieves pain?
Opiates caused drowsiness as well as relieves pain.
What is the bankruptcy reform act of 1994?
The bankruptcy reform of 1994 is typically isThe Act of Bankruptcy has often emerged from times of economic crisis, and had generally made filing for bankruptcy easier. Congress passed the Acts of 1898, 1933, 1934, 1978, 2001 and 2009 in response to depression, recession or widespread financial panic. In the 2005 act, Congress made some bankruptcy filings more difficult. The most substantial recent act, the Bankruptcy Act of 1994, helped debtors and creditors alike. Creditors and some members of Congress have objected to the extent of protection offered in Chapter 13 of the 1994 act. It is required to pay back at least a portion of their debts. Sometime you will find it difficult to file bankruptcy. Bankruptcy is a legal process that relieves debtors of the responsibility of paying their debt, or to protect them while they repay a loan that is not backed by pledged assets. In 1988, the original bankruptcy was put in law and reform at 1994. There are two main bankruptcies. They are; Involuntary and voluntary. Involuntary will make you file bankruptcy and voluntary is the most common kind.
Drug relieves muscular contractions?
no
What is an antipuretic?
medication that relieves itching
