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Can only one spouse file bankruptcy when the other one owns the cars and house?
Wiki User
∙ 14y ago
In general, the filing of bankruptcy by one spouse will not affect
the other spouse's financial situation. A debt is created by contract
between a debtor and a creditor - each debtor must sign the contract to
be liable for payment. Therefore, the bankruptcy of one spouse does
not cause the other to become bankrupt.
Debts where spouses are joint and severally liable for payment will
remain with the spouse who has not filed for bankruptcy. Under Chapter
7 bankruptcy, where one spouse's debts are wiped clean, the creditor
can go after the other spouse. However, a major advantage of Chapter
13 bankruptcy, where the debtor plans to re-pay her debts, is that the
creditor will leave the co-debtor alone, as long as bankruptcy plan
payments are timely deposited.
Wiki User
∙ 14y ago
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In New Jersey is the surviving spouse cars solely in the deceased names?
In New Jersey a car is the property of the person listed on the Certificate of Title. If the car is in the surviving spouse's name then it is not in the deceased spouse's estate. If the car was in the name of the deceased spouse, then it is in the decedent's estate, even if they both considered it to be the surviving spouse's car and was used solely by that spouse. The sole determining factor is whose name is on the Certificate of Title.
Why did Chrysler file bankruptcy?
No brainer. Tons of bills and no money to pay them,worst part-- can't assemble cars without parts.
What are the top three things people go into debt for?
House, Cars, Education
Will your credit score go up after your chapter 7 bankruptcy passes the 10 year mark?
Adding to below--it shouldn't even be on your report after 7 yrs. Lots of times it drops off before that. Yes, but having the bankruptcy on your credit report is not as bad as most people would think. After a year or so following the bankruptcy discharge (about 4 months after you file) a person can get credit for new cars and for new credit cards even with a bankruptcy on their record, and after another year can even get a home loan, but that is only if they have good present income.
If your house is repossessed and it sells for less than what is owed are you responsible for the balance?
Usually, yes. The same follows with cars.
How does a bankruptcy trustee investigate a debtor?
It is rare that a bankruptcy trustee really investigates a debtor. There have to be a large amount of questionable assets or, like in a Chapter 11, types of assets that would send a trustee to your house. When they do, they look into bank accounts and physical assets such as furniture, houses, cars and even clothes.
Is exhaust from cars?
Cars do indeed produce exhaust, but they are not the only source of exhaust which can come form other forms of transport, house boilers and factories.
Where can one obtain a car loan after having claimed bankruptcy?
You can obtain a car loan after having claimed bankruptcy by applying online at the Cars Direct website. Cars Direct is well known for helping people with poor credit obtain an auto loan.
Can you give me the name of the form I need in order for me to be allowed to purchase a new car after I have filed for bankruptcy?
If you have filed bankruptcy, you are not going to be financing any new cars any time soon.
Can you return a car if your spouse didn't sign the sales contract but they released the vehicle to you?
They don't sell cars to "couples" they sell cars to individuals. If there is one name on the contract, and that name has a signature, then the car is sold. They don't care if your spouse is in agreement. The spouse is not a factor in the contract. Yes, this is true provided that your spouses name is not on the sales contract. If you spouse is on the sales contract then it is not completed until he/she signs. -Edward
Can you keep your cars when you file for chapter 7?
Yes, in most cases, a person can keep their cars when they file for Chapter 7 bankruptcy. It will ultimately depend on the bankrupt court.
What do you do when a new spouse has left cars in his name with an old girlfriend?
You fight for your right to have it. You fight for your right to have it.
How do i get car title loan to release my title after bankruptcy?
You can keep your car.Bankrupts rarely lose their cars because they've gone bankrupt. Of course this is conditional and only bankruptcy advisors knows if yours is safe. Contact an attorney or bankruptcy advisor. They should be able to help.
Do you need to file banckruptcy before foreclosure?
No, but if you file bankruptcy you are willing to give up important things. Such as cars , money , boats, or anything value. That would help not having a foreclosure but it would take 2 years to get out the house if you recieve a foreclosure.
What is a no assets chapter 7 bankruptcy?
This means you walk away with no assets. Meaning, if you have 2 cars and $100,000 in debt, after the bankruptcy, you give the cars to the court and they sell them to (partially) repay your debtors. In other words, you walk away with no assets and no debt. The court will do their best to find all of your assets, cars, house, etc. Anything they can find to sell.
How long does it take after you pay off chapter 13 bankruptcy to get your papers and titles on your cars?
Chapter 13 goes up to 60 months but it can be shorter. You will receive the title to your cars when the loan is paid off. Often a car loan is not amended by the bankruptcy, and most loans are less than 60 months.
How do tornados damage property?
they rip apart house , wreck cars and tear tress and other things off of the ground
