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No, interest will continue. A court cannot alter a mortgage on the debtor's primary residence.
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∙ 13y ago
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Does interest owed to the Internal Revenue Service stop accruing during Chapter 13 bankruptcy?
Typically a Chapter 13 bankruptcy will require you to enter into a payment plan with the IRS, and interest will be frozen as of the date that you file your bankruptcy petition.
Who will sell you a house with a foreclouser on your credit report?
I don't think anyone will be ready for that.So its better that you can take a way or option where you house will be save from foreclosure.Filing bankruptcy is the very right option for this.Once you file chapter 7 bankruptcy or chapter 13 bankruptcy bankruptcy law has a provision called stop foreclosure and it goes in to the effect immediately after you file the bankruptcy.This way you can save you house and other important stuff.
How do you stop a chapter 7 and file a chapter 13 instead?
File a motion to covert. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
What is a Chapter 20?
As an unknown individual at the Doney & Associates law firm surmised, "there is no real Chapter 20, but we bankruptcy attorneys amuse ourselves by proving that we can add." A Chapter 20 is when you file a Chapter 13 right after a Chapter 7. One reason some people do this is because you cannot stop a home foreclosure with a Chapter 7, but you cannot file a Chapter 13 if your unsecured debt exceeds a certain dollar amount. So, if someone's home is being foreclosed but their unsecured debt amount exceeds the limit for a Chapter 13, those persons may file a Chapter 7 and wipe out the unsecured debt, then file a Chapter 13 and stop the home foreclosure. Some Courts frown on Chapter 20's since they see it as an unfair manipulation of the bankruptcy code.
Can you save your house from foreclosure?
Yes you can save your home from foreclosure. This is a primary reason people file for a Chapter 13 Bankruptcy, the automatic stay can stop a foreclosure as long as it's filed before the sale takes place.
If you file chapter 7 will a garnishment stop immediately Also will you be eligible for a refund on any of the garnishment already deducted you?
YES
If you file a Chapter 13 bankruptcy does that automatically stop a repossession?
YES, its called an AUTOMATIC STAY. ALL collection efforts must stop as soon as they are notified of your filing.
Can you stop chapter 7 after you file?
Yes, if you have an attorney just have him/her petition to voluntarily dismiss, if you're doing it yourself, just do the same.
We filed chapter 7 bankruptcy. When can the bank take the house?
When you either voluntarily give up the house or you stop making payments (foreclosure).
How do you stop someone from being able to file a chapter 7 on a judgment you have against them without paying 250.00 on a adversary?
I could be wrong on this - BUT - I do not believe that a Chapter 7 filing negates a court ordered judgement.
Will you get rid of credit card debt with bankruptcy?
No. If you file bankruptcy, you are basically telling the creditors that you don't have any funds to pay them. Your finances are being held by the court and the lawyers will tell the creditors that you filed bankruptcy. You are still responsible for the debt. WRONG! If you file bankruptcy and file a chapter 7, if the judge approves your appeal all your credit card debts are erased, and creditors have to stop calling and harassing you. If you file a chapter 13, you are still responsible for a certain portion of your debt, to be paid over a 5 year period, and creditors have to stop calling and harassing you.
If you filed chapter 7 bankruptcy in 2003 and you and your spouse are about to lose your home can you file bankruptcy together?
Yes you can file bankruptcy. You cannot file another Chapter 7 again since you can't file it within 8 years of the previous Chapter 7, but you can file Chapter 13 since it is not subject to the 8 year rule. Also, Chapter 13 is the chapter many people use in foreclosure situations since it is designed to help people stop foreclosures and get back on track with mortgage payments. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
