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Yes. Filing bankruptcy does not affect your work status generally speaking.
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∙ 11y ago
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If you have a loan with your thrift savings at work do you have to file on it if you file bankruptcy?
You need to include all of your debts in the bankruptcy.
Bankruptcy Court Cases: Reasons to File a Bankruptcy Case?
In a touch economy, there has truly been an uprise in the number of bankruptcy court cases filed everyday. Filing for bankruptcy is something that should never make a person feel ashamed or guilty. Rather, bankruptcy is a normal part of what happens when the economy takes a turn for the worse and people lose their jobs. This article will discuss the best ways that a person can handle his or her bankruptcy situation. When a person feels that debt becomes too much to bear, then it may be time to file for bankruptcy. If a person is unable to make his or her monthly payments on credit cards or simply owes too much in loans, then it is a good idea for this person to begin considering the possibility of filing for bankruptcy. If a person is unsure whether or not he or she should file for bankruptcy, then it is a good idea for this person to consult with a bankruptcy lawyer. A bankruptcy lawyer often gives a free consultation to any person that comes into his or her office. This consultation will reveal whether or not a person qualifies to file for a certain type of bankruptcy, as well as whether or not it is in a person's best interest to file for bankruptcy. To file for certain types of bankruptcies, there are certain conditions that must be met. For example, if a person wants to file for a Chapter 13 bankruptcy, then he or she will need to have a regular and stable income. If a person is a student without an income, then he or she will be unable to file for a Chapter 13 bankruptcy. If a person also does not have any assets, then he or she will likely be unable to file for a Chapter 13 bankruptcy. It is truly a good idea for a person to carefully consider the type of attorney he or she gets to work on a bankruptcy case as well. A person will need to make sure that an attorney is qualified to work on his or her case. A person should always make sure that a lawyer is in good standing with the bar association of a certain state, otherwise a case may be dismissed in court. One does not want to have this happen in court, since it can often be embarrassing and cost a person a lot of money.
If you don't pay taxes but work can you file bankruptcy?
Yes
How does a person file for chapter 11 bankruptcy?
To file chapter 11 bankruptcy one must propose a plan and then must find creditors to agree with this plan. Then, the person must take the plan and creditors to bankruptcy court where the judge will decide whether the plan can work or not. As long as the judge and all the creditors agree then that person can follow through with the plan and be in chapter 11 bankruptcy.
Who do you talk to about stopping wage garnishment?
Work out some sort of agreement very quickly with the other party. If you can't do that then perhaps your only option is to file bankruptcy very quickly. Filing bankruptcy legally puts a stop of wage garnishments. Filing bankruptcy stops all of your creditors' collection activities which is why it is often used as a weapon to avoid judgments.
What are the steps towards filing bankrupt?
Good question. There is a common misconception that bankruptcy is simple to file for and everyone who does so gets approved. In reality, neither of those are true. Successfully completing a bankruptcy proceeding can be a difficult process. However, there is a good deal of work you must do before you can file for bankruptcy. First, you are required to complete a "means test." This is a complicated calculation that determines your ability to pay your creditors. It also compares your financial status to the average person in your area. If you pass this means test, you are allowed to file a Chapter 7 claim in Bankruptcy court - otherwise, you can only file a Chapter 13 bankruptcy claim. The next step involves undergoing credit counseling. Bankruptcy law requires that you complete this counseling before going through the bankruptcy process. Finally, you can file for bankruptcy. In addition to filing, you must submit a bundle of paperwork with the Bankruptcy court. This paperwork includes information about your income, debts, assets, and personal information.
Can a debt collector continue to call after you file bankruptcy?
No, not as long as they were included in the bankruptcy. You should give their information to your bankruptcy attorney, who will contact the debt collector. If that doesn't work, your attorney will certainly know what to do next.
If your home has equity and you file bankruptcy on the credit cards do they go after your home?
Generally you have to list your home as an asset. But there are different kinds of bankruptcy, and if things work out, your home ownership could be protected. See a bankruptcy lawyer!!
You own a condo in Florida work in New York and live in New Jersey what state should you file bankruptcy?
Bankruptcy must be filed in the state in which you reside for the majority of the year.
When can you file bankruptcy after you have paid off a bankruptcy?
When you filed for the bankruptcy, you are also declaring total surrender of the business to the hands of creditor. Although, you can still maintain rights of the company, for the sake of proper decorum, it is advised to allow the bankruptcy trustee to work on the survival of the company.
Do have to work in order to file a chapter 13?
You must be generating a steady income to file chapter 13 bankruptcy, regardless of whether it is earned income. If you don't currently have income, chapter 7 most likely is the better way to file bankruptcy. There is an excellent book that gives you a substantial perspective on filing chapter 7 or chapter 13 bankruptcy: "The New Bankruptcy, will it work for You?", 3rd edition, by Stephen Elias (published in 2009 by Nolo) -- I found it in the Colorado Springs public library at 346.078 E42N (Dewey decimal system).
Just got married have to file bankruptcy but my wife filed in 2003 can i still file with her?
You might be able to file bankruptcy individually, but the bankruptcy trustee will scrutinize joint assets and income to determine whether they must be included in your individual filing. Therefor, there may be more reasons that the bankruptcy trustee would determine as cause to dismiss your bankruptcy claim. Note that if rejection of your bankruptcy claim is upheld by the bankruptcy court, actually your have only lost your time and expenses to file that particular bankruptcy claim. An excellent book for detailed perspective on filing chapter 7 or chapter 13 bankruptcy: "The New Bankruptcy, will it work for You?" 3rd edition (published in 2009 by Nolo), by Stephen Elias. I found this book in the Colorado Springs public library under 346.078 E42N (Dewey decimal).
