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Can you sell your home and buy another if you are in a chapter 13 bankruptcy?
Wiki User
∙ 11y ago
i wouldn't sell it but instead invest in it till it adds value
Wiki User
∙ 11y ago
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Can you sell your home in chapter 13 bankruptcy?
Don't sell the home without legal council. It'll be impossible to re-buy later (given the scant information I have at hand).
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 sell a home that is in bankruptcy?
No.
Can you sell my home while in a chapter 13 bankrupcty and keep the profits?
You will need to obtain the consent of the Chapter 7 trustee before selling any property of the bankruptcy estate.
If you're in Chapter 13 and your home is included in the bankruptcy can you sell your home and not tell the court of the sale?
Your house is part of the bankruptcy estate and you will need permission from the court before selling it. You must also review the specific terms of your Chapter 13 plan to see what additional terms and conditions might apply.
Can you sell a vehicle that was included in a Chapter 13 bankruptcy case and is not yet paid off?
No
Can a creditor ask for purchased product as collateral in chapter 7 bankruptcy?
Yes. I foreclosed on a home and bought another one cash before being discharged from bankruptcy. I was told by the attorney that creditors can ask the courts and the court will confiscate your purchased product and sell for whatever amount and that amount will be given to the creditor(s).
What protection does Chapter 11 Bankruptcy offer?
Chapter 11 is the bankruptcy code issued to a business who files for bankruptcy. This type of bankruptcy protects a business and will allow it to get running again. If a business fails and applies for chapter 7, they must sell everything and give the proceeds to creditors. A person on chapter 11 does not have to do this.
Is Six Flags going to close due to Bankruptcy?
No, Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.
What is the difference between chapter 11 vs chapter 7 bankruptcy?
The major difference between Chapter 11 bankruptcy and Chapter 7 bankruptcy is that Chapter 11 offers more flexibility so that debtors can negotiate terms without having to sell their assets. Under Chapter 7 bankruptcy, the debtor's assets are almost always sold to pay off their debt. Chapter 7 also features a level of debt forgiveness, whereas Chapter 11 does not.
Can you sell your house before the confirmation hearing?
Are you referring to a Chapter 13 bankruptcy confirmation hearing?
How can you refinance your home for a lower interest rate while in a chapter 13 bankruptcy if you do not want to pay off the bankruptcy and do not want to 'cash out'?
While participating in a chapter 13 the petitioner cannot refinance, sell, transfer or otherwise real property without receiving permission from the bankruptcy court/trustee to take the action. Therefore the issues cited are not relevant until/unless permission is granted.
