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This mainly depends on the country one lives in. In Germany, for example, private individuals are allowed to declare "personal bankruptcy". Afterwards one has to meet strong regulations regarding income and spending.

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12y ago

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Where can one find out about bankruptcy mortgage loans?

One can learn about their options for getting a mortgage loan after declaring bankruptcy by visiting the websites of businesses that offer mortgages. Generally, one cannot obtain any kind of mortgage for at least two years after declaring bankruptcy, but some companies may make an exception.


Where can one get a car loan after declaring bankruptcy?

You can receive a car loan after declaring bankruptcy by applying to any bank that offers the option. However you might have to rebuild your credit score first, or just have a co-signer with amazing credit.


Does declaring bankruptcy wipe out icbc debts?

yes


What kind of lawyer would one use when declaring bankruptcy?

When one is declaring bankruptcy, they should use a lawyer familiar with bankruptcy. There are different types of bankruptcy to consider, such as liquidation or cancelling your debts, or reorganizing for wage earners who can still make debt payments.


Does the constitution prohibit a state from declaring bankruptcy?

No, the only mention of bankruptcy is that Congress shall have the power to enforce uniform bankruptcy laws.


How to write a Letter declaring bankruptcy?

In the US, a bankruptcy is petitioned and decided in a Federal Court. It is not done with a letter.


How can you claim bankruptcy to avoid paying bills?

In order to claim bankruptcy a court has to issue a bankruptcy order against you. The best place to find information about bankruptcy and the whole process of declaring bankruptcy is the official government website.


After declaring bankruptcy my father died and left me half his estate will I lose it?

If your father was involved in a bankruptcy proceeding at the time of his death his assets are encumbered by the proceeding. The bankruptcy proceeding would affect the title to his property until it is resolved. His estate would need to be probated in order for the title to his property to pass to you. When an estate is probated the creditors must be paid first before any distribution to heirs can be made. You should contact your father's bankruptcy lawyer or his trustee in bankruptcy to notify them of his death and to determine what your options are. If that's not possible you should seek the advice of a probate attorney.


What must someone have to secure home loans after bankruptcy?

Generally, immediately after declaring bankruptcy, an individual will be unable to get any home loan of any kind. It usually takes at least two years of good behavior and debt eradication before one could be considered for a loan.


Are there any ways to avoid declaring bankruptcy even if you are buried alive with your debts?

You can simply stay buried, unless a creditor forces you to file (very rare for consumers). The better question is, "Why wouldn't you want to file bankruptcy if you're buried?"


Where can I find more information about how to file bankruptcy?

Declaring bankruptcy can be a very scary thing - luckily there is a lot of help available. Online you can visit www.bankruptcyaction.com/questions.htm


Do you lose your RRSP's when declaring bankruptcy?

While registered pension plans [RPPs] are exempt from seizure in bankruptcy situations, most Registered Retirement Savings Plans [RRSPs] are not.