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Can debt acquired on an others credit card be discharge by your bankruptcy?
Billyscamps
Well - Yes & No.
That person may be a creditor of YOURS, and your debt to them could be discharged and should be included in your BK filing (you owe them).
But THEIR debt to the cr card co is theirs...the Card co NEVER agreed to extend YOU credit, you don't owe them..they can't and never could try to collect from you...they don't know or care.
Your friend loaned you money...just the same had he taken a cash advance on the card and handed it to you.
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∙ 14y ago
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Can you place educational loans on bankruptcy?
Student loans are exempt from discharge because too many others had the same idea.
Can you lease a car after filing for bankruptcy?
Depends. Some dealerships won't even look at you if you have bankruptcy in your credit history. Others might, but it usually comes at the cost of high interest rates.
How soon after Chapter 7 bankruptcy can you buy?
Some institutions require 2 years, while others require 3 years from the discharge date. Some local banks and credit unions have created special programs allowing only 12 months if certain criteria is met, but often the credit requirements make nearly all applicants with a recent BK ineligible.
What is the statute of limitations for reporting bankruptcy to credit agencies?
Credit Agencies generate their own data, using others records. They may provide their findings, using whatever parameters the requester wants. A BK, being a Federal Court proceeding is a matter of public record for just about forever, to whomever wants to look. Some credit reports are only requested with a look back of a few years, or for certain types of things - like only revolving credit accounts, or judgements. However, most standard credit reports use parameters that include most all items of record, (sometimes even criminal things), and a bankruptcy is normally included for 10 years and other things for 7 years.
Is a bankruptcy lawyer always honest with his or her client?
Some bankruptcy lawyers are totally honest, others are not.
How do you remove a bankruptcy from your credit report?
Any account included in a bankruptcy remains on your personal credit report for a maximum of 7 years from the date the bankruptcy was filed. The bankruptcy itself, listed in the public record information section of a credit report, remains for either 7 years from the filing date if it was a Chapter 13, or 10 years from the filing date if it was a Chapter 7, 11 or 12. Source: ExperianMore Information:A bankruptcy can be removed from your credit report. I know two people who have done it.Basically how credit repair like this works is you, or attorneys you hire, challenge negative marks on your credit report. The Fair Credit Reporting Act - - gives you the right to dispute anything on your credit report. Once the credit reporting agency contacts the creditor to verify the account they have 30 days to respond with verification. If they do not respond the mark is removed. If they do respond you can challenge again and ask for real proof. I don't know the details of what is required but it can get to the point where they have to provide signed contracts, a list of all payments and bills, etc. What usually happens is the creditor does not respond and it is removed. The same is true of a bankruptcy, often the court does not get the information to the credit reporting agency so the bankruptcy is removed.That doesn't mean they can definitely remove a bankruptcy, or anything else. They may or may not. Obviously if the mark on your credit is not accurate it is a lot easier to have taken care of. I had credit issues caused by id theft that I was unable to do much about, but a credit repair agency quickly removed all the negative items and increased my score over 200 points. I know others who had legitimate bad marks, they seem to be able to get most of them removed but not all.Of course, this doesn't remove the actual bankruptcy, or any debts owed. It just removes them from your credit reports
What is mean by Debt and Bankruptcy?
Debt is what you owe others for money the lent you expecting to be repaid by you. Bankruptcy is a federal legal court system that allows debtors to get a discharge, which prevents creditors from taking any action to collect the debt. It does not prohibit you from repaying the debts as and when you can after the discharge. Some loans cannot be discharged, such as student loans and child support arrears. Secured loans (mortgages, car loans, etc.) must either be reaffirmed or the collateral surrendered to the creditor
What are the differences between bankruptcy options?
Bankruptcy is a federal court process. It is designed to help consumers and businesses eliminate debt or repay debts under the protection of the bankruptcy court. There are two categories of bankruptcy, "liquidation" or "reorganization":Liquidation bankruptcy (or Chapter 7) - a consumer or business asks the court to discharge the debts owed (some debts cannot be discharged). In exchange, the business's assets or the consumer's property is sold (liquidated) and the proceeds are used to pay off the creditors.Reorganization bankruptcy (chapter 13) - involves filing a plan with the bankruptcy court suggesting how you will repay your debt. Some debts must be repaid in full while others require only a percentage or nothing at all.
You were going to file bankruptcy but did not. However it is on your credit report anyhow What can you do We never met a judge never filed anything?
Why "however?" Obviously, you can do one of three things: 1. pay the judgment, interest, etc.; 2. negotiate a settlement with the judgment creditor;, and 3. file bankruptcy. The judgment will stay on your credit report for at least 10 years (20 in some states, and renewable in others for an additional 10 years). The bankruptcy would have been on your report for 10 years from the date of filing. Go ahead, believe the corporate "financial analysts" on CNN and the networks who tell you NOT to file bankruptcy. It certainly helps them keep their jobs.
When can you apply for credit again?
Life brings in its own taste in different aspects of life. When we go to restaurants, the food does not always taste good. The chef did try his best, but it's just that the day does not belong to him. That's what happens in life also. Even if we do things correctly, at times they turn out little off track on the longer run. Just as the chef ends up making a bad dish, we end up in a financial disaster. But that's not the dead end at all. There is a way out of it also, file for bankruptcy. Well as all coins have two sides, so does bankruptcy. There are few things one must keep in mind before filing for bankruptcy. There are often intelligent alternatives to bankruptcy. So do explore your options before filing for bankruptcy. That's because bankruptcy has its own negative impacts as well. So a bankruptcy attorney must be consulted. A bankruptcy attorney can give you very good idea of the pros and cons of filing for bankruptcy. There is a major demerit that comes along with bankruptcy. While filing for bankruptcy credit score comes down drastically. At this point in time several banks may even refuse to provide you with any kinds of loans. Even if they do agree they will charge more interest rates than what they would usually do. Well it can obviously be taken over in due course of time, but then there is no quick alternate to it. There are a few credit repair products available, which must be used intelligently. There is no fixed amount of time that you can again apply for credit. It depends and varies from different creditors. For example one creditor may allow to lend a consumer credit at a very short duration from bankruptcy, where as others may not. There is no definite law formed to stand by this. So it's all the creditors call. So whenever you apply for bankruptcy credit takes a bad hit. Bankruptcy stays on the credit history for about 7 to 10 years. So one must be very careful in taking new credits after filing for bankruptcy. Only small and necessary credits must be taken. It must be made sure that the credit report reflects things very accurately. Even if you are applying for new credits, they must be managed very carefully.
Can you get credit after you file bankruptcy?
Yes you can. One of the best ways to reastablish your credit is to get a secured credit card. This is a credit card with a set spending limit. Say you give the credit card company $500 that will be your spending limit. Just use the card for normal purchases you would make anyways like gas. Then make the monthly payment on time every month. Within no time at all you will be back on the right track. Capital one for example offeres a secured credit card and there are others out there.
If you are pregnant will you have discharge?
yes you will i am going on three months pregnant now an i havethick white dischargeand cervical discharge,,,, many women get that during pregnancy.
