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The trustee can ask you to turn it over to him if he knows that you are getting a refund back.
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Can IRS hold funds for bankruptcy?
can the IRS take your check if you file bankruptcy , chapter 13 or will I have to submit the check to them once received.
If you file bankruptcy in one state and own a home in another state may you keep it?
The answer depends on the type of bankruptcy you file and the value of your home. In Chapter 7 bankruptcy, you may be required to sell the home unless it falls within certain exemption limits. In Chapter 13 bankruptcy, you can typically keep your home and create a repayment plan to catch up on missed mortgage payments. It's best to consult with a bankruptcy attorney to understand your specific situation.
Can you do a loan modification if you are in chapter 13?
A Chapter 13 bankruptcy puts the entire debt collection process on hold to give the filers time to work out a court-approved repayment plan for a portion of their debts. Thus, because the process is on hold, a loan modification can not be enacted while a mortgage is currently under the supervision of the Chapter 13 trustee. However, it is possible to negotiate a modification of a loan with the mortgage lender during the bankruptcy. But it will be necessary to have the bankruptcy case voluntarily dismissed before the modification can be finalized and put into effect. Banks may not be willing to negotiate with the borrowers under the circumstances of a Chapter 13, though.
What will happen with your federal student loan eligibility if you file for bankruptcy while attending school?
Bankruptcy will not get U off the hook for the federal student loan. They used to have a hardship deferral, but I do not know for how long it lasts, or if that still hold true. Check the financial aid office for the latest laws and regulations.
If a car is repossessed and sold at auction for less than the amount owed to the lender will filing bankruptcy discharge the remaining balance if it has been reduced to judgment?
It depends on the chapter. In either case, your remaining debt is now unsecured and a bankruptcy filing places the judgment on hold. If it is Chapter 13, file a claim and you may receive a percentage of the bankruptcy estate, but not usually until near the end of the bankruptcy term (3-5 years). If it's a Chapter 7, again, it's an unsecured debt and highly unlikely that the debtor will sign a reaffirmation to pay you back. If the bankruptcy gets dismissed (thrown out), your judgment is back in force, provided it has not expired.
Can you hold your passport after you get declared bankruptcy?
A bankruptcy filing or discharge in bankruptcy should not have any effect on your US passport.
How long does it take for your credit to get better after you are discharged from Chapter 13 bankruptcy?
Your credit score starts going up the minute the bankruptcy is filed. Debts incurred after the filing (even the day after), are exempt from the bankruptcy. If you make house and/or car payments on time, your score goes up Legally, they can hold it for up to 10 years.
Will filing for bankruptcy reduce the principles on student loans and mortgages?
No, filing for bankruptcy does not discharge or reduce the principle on student loans, though the bankruptcy process may put 'recovery attempts' on temporary hold. Regarding mortgages, filing bankruptcy will potentially discharge your debt, though you may lose your home unless you choose to file a Chapter 13, which will allow you to consolidate debts and retain your home if you so choose.
Can you hold a public office if you have filed bankruptcy?
No
I own a boat slip in intercostal waters. Does it fall under the jurisdiction of maritime or civil law in case of bankruptcy and can it be sold to help satisfy debts?
Bankruptcy is a set of Federal laws. YOU (not your boat, not your car, not your house) are using the Federal law by declaring bankruptcy. Your boat is personal (or perhaps business personal) property in those matters. Your house is another type of property or assset. Your savings account, yet another. Each has many sets of laws they are subject to. Even if it was a huge freighter on the high seas, in the Bankruptcy court, it is the rules of that court that hold.
Can a creditor put a hold on your savings account after you claim bankruptcy?
When you file for bankruptcy, all your assets are revealed to the trustee and basically frozen. No, a creditor probably won't put a hold on your savings account after you file but they can until your bankruptcy is discharged. Usually a letter from your attorney saying you have filed bankruptcy will stop this action.
What is a federal marshall hold?
Fedral Marshal Hold is when a illegal alien is arrested and convicted of a felony, then they are deported after there sentence. Then they return to the U.S. and arrested again for anything there is a good possibility they will be held on a Fedral Marshal Hold to revue the prior charge and to access the potential problems and there return to the U.S. Fedral Marshal Hold is when a illegal alien is arrested and convicted of a felony, then they are deported after there sentence. Then they return to the U.S. and arrested again for anything there is a good possibility they will be held on a Fedral Marshal Hold to revue the prior charge and to access the potential problems and there return to the U.S.
