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Can you file bankruptcy after creditors have started legal action?
Wiki User
∙ 15y ago
you can add a creditor any time just make sure you didn't make that bill in bankruptcy the courts can dismis your case if you did make another bill in bankruptcy. talk to your lawer some times they charge a fee to add a bill.
Wiki User
∙ 8y ago
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What is your liability to harassing creditors if after six years your Chapter 13 bankruptcy was dismissed by the trustee?
If your Chapter 13 was dismissed, meaning you did not complete your Plan, then you are essentially right back where you started before you filed for bankruptcy. The creditors can pursue you for the debts without any legal ramifications.
What do you call a legal process to pay the creditors of a corporation declared to be insolvent?
insolvency Bankruptcy
What is a legal proceeding for distributing to creditors the assets of those unable to pay their debts?
Bankruptcy
What are the alternatives to filing for bankruptcy?
One option to avoid filing bankruptcy is to simply do nothing. If one has no income and no assets, they are considered "judgement proof" and typically creditors will not file legal action against them as there is nothing for the creditors to recover. Other alternatives include informal or formal negotiations with one's creditors, consolidating debt, or restructuring debt (essentially refinancing the original loan).
What are the alternatives to filing bankruptcy?
One option to avoid filing bankruptcy is to simply do nothing. If one has no income and no assets, they are considered "judgement proof" and typically creditors will not file legal action against them as there is nothing for the creditors to recover. Other alternatives include informal or formal negotiations with one's creditors, consolidating debt, or restructuring debt (essentially refinancing the original loan).
What is the definition of bankruptcy?
It is a legal process that one uses to protect themselves from creditors, while a court and trustee use their power to resolve, frequently by discharging, the obligation to creditors.
What if your bankruptcy was dismissed?
You no longer have the protection of the Court or the BK laws, and creditors may oursue collection every legal way.
What if the debt is incurred after the bankruptcy filing but before the bankruptcy discharge?
When an individual files for bankruptcy, he/she must list down all the creditors and debts that they have. If the bankruptcy has already been filed and the individual has incurred new debt but has not yet been discharged by bankruptcy, that new debt is not included in the bankruptcy discharge. For an official opinion, it is advised you seek legal counsel. It is really important to seek legal advice from the expert about filing for bankruptcy.
Is it recorded in the local paper when someone files bankruptcy?
Many local papers run Bankruptcy sections in their Sunday editions. This is a service they offer to prospective creditors of those filing BK. As bankruptcy is a matter of public record, it is perfectly legal.
What is the bankruptcy power?
filing bankruptcy is a powerful legal way for the people who are in a very worst financial conditions.It gives them the relief from the creditors harassment.its also provide the advantages like stop foreclosure and automatic stay.
How do you check am i are bankruptcy person?
You don't have to. It is a legal action that's a big deal that YOU start yourself.
What is filing bankruptcy?
Bankruptcy is a legal tool individuals and companies use when they are no longer able to repay debits. In the United States their are two sorts of personal bankruptcy. 1) Chapter 13 Bankruptcy, or reorganization Bankruptcy lets an individual work with their creditors to pay back debts without the threat of foreclosure or harassment. This lets someone do the right thing and pay people back. 2) Chapter 7 Bankruptcy is a more extreme step. During Chapter 7 one continues to make essential payments while paying nothing to other creditors. Next, all assets are liquidated and distributed to creditors.
