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Can you repay a relative after bankruptcy even if the indebtedness to them was discharged?
Wiki User
∙ 14y ago
You can voluntarily repay any creditor whose debt was discharged. Do not enter into a payment plan, or make regular payments, or you may reinstate the debt.
Bankruptcy only prevents the creditor from taking any action to collect the debt. It does not prevent you from paying.
Wiki User
∙ 14y ago
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Do student loans automatically come with filing bankruptcy?
Federal Student loans cannot be discharged in bankruptcy. You must repay them.
Paying back a discharged loan after chapter 7 bankruptcy?
There is no reason to repay a loan after a discharged bankruptcy, if you have done so, you can reclaim all your money from the creditor (you'll have to go through court).
What does discharge of a debt mean when it is not associated with bankruptcy does it mean the debtor is fullt released from the obligation to repay the debt?
Yes, if a debt is discharged the debtor no longer has to pay.
If someone filed Chapter 7 Bankruptcy and wanted to repay some of the debts listed in full would that bring their credit with those creditors into good standing on their credit report?
No-the accounts have been discharged in bankruptcy.
After filing bankruptcy is 2000 too much to receive from a relative?
Why is the relative "giving" you this money? If it is NOT to repay a loan you made to the relative, but a gift, it may depend on whether the bankruptcy was a c. 7 or c. 13, and whether the case is still pending or a plan has been approved by the court. Consult an experienced bankruptcy lawyer in your area.
If your mortgage was not reaffirmed and it was discharged in bankruptcy do you have to repay it?
Any debt discharged through BK is cleared and no longer exists. The debt may no longer exist but the lien against the property still exists. While you do not have to pay the loan, the note holder can still take possession of the property.
What describes bankruptcy?
a legal declaration that you are unable to repay your debts
What are the differences between bankruptcy options?
Bankruptcy is a federal court process. It is designed to help consumers and businesses eliminate debt or repay debts under the protection of the bankruptcy court. There are two categories of bankruptcy, "liquidation" or "reorganization":Liquidation bankruptcy (or Chapter 7) - a consumer or business asks the court to discharge the debts owed (some debts cannot be discharged). In exchange, the business's assets or the consumer's property is sold (liquidated) and the proceeds are used to pay off the creditors.Reorganization bankruptcy (chapter 13) - involves filing a plan with the bankruptcy court suggesting how you will repay your debt. Some debts must be repaid in full while others require only a percentage or nothing at all.
where can i get a small business loan, that i do not have to repay?
You can take a small business loan, but you will have to repay it or face bankruptcy and having your assets seized. Instead you can pursue a grant, which you do not have to repay.
What is a financial failure caused by a company's inability to repay its debts?
bankruptcy
Benefits of bankruptcy?
Filing for bankruptcy will trigger the automatic stay, preventing creditors from taking action to collect their debts, including calling you, suing you, or sending you letters.You may be able to discharge your obligation to repay any of your dischargeable debts.By using the bankruptcy exemptions, many debtors can go through the bankruptcy process without losing any of their property.While a bankruptcy filing will remain on your record for 7-10 years, because many debts can be discharged in bankruptcy, many debtors begin improving their credit rating after filing for bankruptcy. Visit : my profile and click my site for more information about bankruptcy.
What is meant by voluntary bankruptcy?
Voluntary bankruptcy refers to a situation where an individual or business entity chooses to file for bankruptcy in order to have their debts discharged or restructured. It is initiated by the debtor themselves, rather than being forced into it by creditors or other external factors. By filing for voluntary bankruptcy, the debtor acknowledges their inability to repay their debts and seeks legal protection and assistance in resolving their financial situation.
