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If the depts are recently accured then you have the possibility of being sued for fraud if you file for chapter 7. Under chapter 13 you cannot be sued for fraud but will have to pay some of the money back for three years.

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โˆ™ 2005-09-24 03:30:15
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Q: Can you file bankruptcy on recently accrued debts?
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Related questions

If you have a loan with your thrift savings at work do you have to file on it if you file bankruptcy?

You need to include all of your debts in the bankruptcy.

Can you file bankruptcy on your deceased spouses debts?


Can a man file bankruptcy without his wife's involvement and if he does how will she be affected?

A husband (or wife) may file for bankruptcy separate from his or her spouse. Technically speaking, this should have no effect on the other spouse as they are filing bankruptcy for their separate debts and you will not be held responsible for their debts nor will it be reflected on your credit report, etc. It is important to note that those debts you held jointly will remain with you (the spouse that did not file for bankruptcy).

What are the two chapters a business can file bankruptcy under?

You can file bankruptcy for two possible reasons: you are unable to pay your debts or your creditors file for bankruptcy if you owe them more than 1000 dollars.

Can you file for bankruptcy with a repo on your credit?

The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.

If you live in one state and have debts in different states can you file Chapter 13 Bankruptcy on all debts including them?

Yes. Bankruptcy is a Federal Government function. It effects debts in all states.

How do you file chapter 11 bankruptcy?

There are many ways one can file for chapter 11 bankruptcy. One can file for chapter 11 bankruptcy by proposing a plan in which the debtor plans on paying back debts over time.

Bankruptcy if married can one spouse file bankruptcy independently from the other Is the one spouse then held responsible for the first spouse's debts if bankruptcy Is filed?

One spouse can file bankruptcy separately and both are held responsible.

If you are not in de-fault on your mortgage can you still file for bankruptcy?

Yes, if you have unsecured debts or other secured debts like a huge car payment you need to get rid of. Be careful to complete the bankruptcy documents carefully, especially if you file a Chapter 7, or use an experienced bankruptcy lawyer.

Can you put an eviction in a bankruptcy?

Yes if you have an eviction before you file bankruptcy. All action on your eviction will cease until the bankruptcy judge or trustee has made decisions on your debts in the bankruptcy.

Can you file back child support in a bankruptcy in the state of Alabama?

Bankruptcy is a Federal process and has no effect on child support. Bankruptcy does not dismiss child support debts.

At what point in a Chapter 7 bankruptcy is it considered final with no new debts eligible for discharge?

When you file for Chapter 7 bankruptcy, you are responsible for listing all of your debts. Some debts are generally not dischargable (i.e. child support, most taxes, student loans, secured debts, etc.). When you receive a discharge for dischargeable debts, the discharge generally applies to debts listed in your bankruptcy filing and any subsequent amendments. The discharge does not apply to date incurred after you filed bankruptcy and generally does not apply to debts that you failed to list in the bankruptcy.

Can you file bankruptcy on a second house and keep your first house?

You can't file bankruptcy "on" any asset. You file for bankruptcy, listing all your assets and debts, to discharge all dischargeable debts. You can surrender an asset such as a second house and get a discharge on any unpaid amount due on a mortgage, while reaffirming the mortgage(s) on the first house.

Does the government have to pay your debt if you file bankruptcy?

Not only does it not have to pay, it will not pay your debts. Debts are not extinguished in bankruptcy. The creditors are prohibited from collecting them, assuming you get a discharge. They still exist in some world of uncollectability.

If you are trying to file bankruptcy and two accounts are paid off by cosigners can you still file bankruptcy on your remaining debts?

Yes. However due to the new bankruptcy reform the party involved may have to file whichever type of bankruptcy the trustee feels is applicable. The point of the reform is to prevent multiple BK filings. The premise is, if the debtor has even a small amount of nonexempt income it is to be used for repayment of debts.

If I file bankruptcy can I add my mother's creditor with my bankruptcy?

Just because she is your mother, it does not mean that you are automatically liable for her debts. When you file for bankruptcy, you can include only those debts which you are liable either personally or as a co-signor or joint debts. If you are not a co-signor and you include your mother debt in your bankruptcy, you will be committing fraud and your petition will be dismissed. Once a bankruptcy petition is dismissed for fraud, there may be restrictions on future filings. Your mother will continue to be liable for the debt. If she is unable to pay the debt, she can file for bankruptcy to discharge the debt. For an official opinion, it is advised you seek legal counsel.

Can a spouce file for bk?

Yes, one spouse (rather than the couple) can file for bankruptcy when they have significant individual debts. Generally, this action by one spouse will not negatively affect the financial situation of the other spouse, nor will they be responsible for the debts of their spouse. It is important to note that those debts in which the couple is jointly and severally liable for will remain with the spouse that did not file for bankruptcy.

Can you drop off debts over the statute of limitations in bankruptcy?

Normally, you must put down the debts before you file, as they can not be added on after it is filed.

Can you file bankruptcy on payday advances in Tennessee?

Yes, you can file bankruptcy on payday advances. Most debts can be included except some judgments, federal tax liens and student loans.

Can you file for bankruptcy after divorce and include the joing mortgage?

Filing for bankruptcy after a divorce when there are a lot of joint obligations can complicate things but it is not uncommon. When a person files for bankruptcy they can only file for their debt obligations and so the court may not allow you to do it for a joint mortgage if that would be unfair to your exspouse or they cannot separate the debts. This is something to think about and I would recommend you contact an attorney to determine what debts can be discharged and what debts cannot.

If you file chapter 7 bankruptcy does that eliminate paying back the parent plus college loan?

Student loans are exempt from bankruptcy as are IRS debts

Can you file chapter 13 on a land contract?

A bankruptcy (either 13 or 7) is filed by a person and is to include ALL debts, not a particular contract. You should speak with a bankruptcy lawyer to find out if you qualify and what debts would be discharged or reorganized under a bankruptcy.

If you file bankruptcy?

What happens if you file bankruptcy differs depending on what chapter of bankruptcy you or your business decides to file under. The most common form of bankruptcy for the individual is Chapter 7. Under Chapter 7 bankruptcy, the banks may liquidate property and assets-except things that are explicitly protected. After this, most debts are forgiven-but not all, as certain debts do not qualify. Your credit score will then be severely damaged by the filing, but you will be free to slowly bring it back up as you will not be suffocated by debt. The article below goes into further detail on the process of bankruptcy.

How do you find debts owed to file bankruptcy?

get a copy of your credit report from all three credit bureaus

What type of bankruptcy do you file for unsecured debt and a car loan?

There are different types of Bankruptcy. Chapter 7 is for the debtor which has debts like medical bills,car loans etc. But if you want to pay back your debts then you can file Chapter 11 and 13 which has a payment plan. You can pay your debts through payment planning. Try to search more information about bankruptcy and ask a legal advice.

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