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After the bankrupt is discharged can creditors who were not included in the scheduals or amendments continue efforts to collect debts not discharged?
Wiki User
∙ 15y ago
No Yes they can, of course. But why they weren't included...because it isn't an option to do so (you don't pick and chose what is in a BK, it is everything you owe and everything you own - albeit some of either may be classed as exempt)...is interesting. If you failed to provide information about them in your filing (where you swore to the Courts that you were providing all the information), you have a new problem, that being the Courts generally consider this criminal fraud. More clearly...by your not including them, their debts couldn't be discharged....and you certainly can't expect protection to be provided to you for who you DIDN'T include.
Wiki User
∙ 15y ago
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What if the individual did not declare bankruptcy prior to death but the estate is bankrupt?
If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.
Can you bankrupt on a government student loan?
These are not allowed to be discharged.
Can you go bankrupt on what you want or does it have to be everything?
All debts and assets have to included in BK. After a Chapt.7 is discharged the debtor can make arrangements with secured creditors to reaffirm the debt(s). They also have the option of paying creditors if they can work out an acceptable agreement. BK does not mean the debt is no longer owed. It means creditors cannot make attempts to collect the debt, such as a lawsuit. Wrong answer, Nikki. A discharge in bankruptcy means that the discharged debts no longer exist. Perhaps you are confusing the statute of limitations on collections?
Do you legally have to declare im a discharged bankrupt?
The process was a legal process and that is the result.
If you are bankrupt do you still have to pay child support?
Child support is not discharged in bankruptcy.
Its been 3 years since you were bankrupt how do you find out if im discharged?
YES
Can bankruptcy go after warranty Deed with Reserving Life Estate property?
That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.That depends on several factors, especially the time line of its creation, but it may become part of the bankrupt's assets subject to creditors but the creditors may take it subject to the life estate.
What does bankrupt mean in a sentence?
"Bankrupt" means that a person or organization is unable to pay their debts and is legally declared insolvent.
Why are companies bankrupt?
Because they can no longer pay their creditors...AKA company is not worth the money they borrowed.
What is a liquidation policy?
when a business or firm is terminated or bankrupt its assets are sold and the proceeds pay creditors
Does any money you receive ie ppi repayment go to creditors if you are declared bankrupt?
You are not "declared bankrupt." You file (for) bankruptcy (protection) and get a discharge. If you cannot exempt the ppi reimbursement, it goes to the trustee, who will pay the trustee fee and distribute whatever is left to the creditors.
What is the definition of a bankrupt person?
A bankrupt person is one who cannot pay his debts. Bankruptcy laws sometimes allow indebtedness to be legally discharged when it is unlikely to ever be repaid.
