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Can an life insurance proceeds be taken when bankruptcy is filed?
Wiki User
∙ 14y ago
Yes
Wiki User
∙ 14y ago
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If your wages are being garnished after you filed for bankruptcy in Ohio can the collection agency keep what they've taken and how can you stop the garnishment?
Once the bankruptcy is filed the automatic stay will halt the garnishment action. However, monies taken before the bankrupcy was filed will not be returned to the debtor.
Should you renew your home owners insurance if you have filed for bankruptcy and your debt has been discharged?
If the note holder has taken possession of the property then they are the current owner, you do not need to maintain a home owners insurance policy. This is because you are no longer the home owner.
You are filing for bankruptcy and the car is in your name only for insurance purposes and you use it to take your disabled mother about Can it be taken in bankruptcy?
No!
If you filed bankruptcy in Dec of 2004 can you get your refund that has already been taken for 2002?
No, the IRS will get to keep it. And, even if you could get it back, the bankruptcy trustee would probably take it to distribute to your creditors.
Are taxes taken out of life insurance?
Personal life insurance proceeds are generally paid out free of income taxes as long as the premiums were paid with after-tax dollars. But if a business paid the premiums and deducted the premiums as an operating expense, then the life insurance proceeds would be taxable to the beneficiary.
What do you do if you have a policy with a company that has declared bankruptcy?
Contact the Insurance Commissioner, they probably had the company taken over by another company.
I am going into a bankruptcy in app 1 month the bank wants to reposses the car if I surrender the car before the bankruptcy is filed will it show up as a repo or go under the bankruptcy?
It will show up as both. If the bank auctions off the car, they may come after you for a deficiency judgment. Any chance of them coming after you would be taken care of in the bankruptcy.
Who is entitled to insurance proceeds between tenant and landlord?
That depends on the type of insurance policy it is. If it's the landlord's policy on his building, with him paying the premiums, then the insurance benefits go to him. For the insurance money to go to you, then you would have had to have taken out renters insurance, with you paying the premiums, insuring the contents (your personal belongings).
What happens if a creditor is disputing a debt to be included in a chapter 13 is filed?
contact them and ask them why...if it's a credit card...or basically anything but student loans they have to accept the terms of the bankruptcy. get in touch with the lawyer who did your filings for your bankruptcy proceedings and they should get it taken care of.
How can a civil judgment be placed after bankruptcy Mortgage included in bankruptcy and after discharge bank filed civil judgment for amount of mortgage Can they do thid?
Assuming a Chapter 7 was filed, if you did not surrender the property to the bank, the bank would file for relief from stay and be able to pursue foreclosure. If you surrendered the property, the mortgage balance was discharged and the bank was in violation of the automatic stay. A notice of the bankruptcy should have been filed with the court the bank sued you in. You cannot ignore legal procedures taken against you after a discharge. You have to respond appropriately.
Can you get government job after bankruptcy?
Maybe.It also depends on a lot of other factors, but if you would have been able to get that same job before you'd filed for bankruptcy and there would not have been any other factors preventing you from getting the job, then you should be able to...also depending on the reason bankruptcy was filed in the first place. All those factors are taken into consideration.
If you cash in a life insurance policy do you have to pay taxes on it?
"Insurance and Taxes. No. All proceeds or withdrawals from any insurance policy are not taxable." This is not true. If you cancel a life insurance policy, the growth on the cash value IS TAXABLE. If you do not surrender your policy, the money is taken as a loan and therefore not taxable, but interest that has to be paid back to the insurance company grows.
