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No, but it helps. Many people pay their bills instead of buying groceries, but they can't sustain that for long. The test for bankruptcy is not so rigorous. If you spend what you should to live on, and you cannot pay your other bills as they come due, you can file.
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Which hurts your credit worse bankruptcy or late payments?
Late payment will drive your credit score into the ground rapidly. Many people question filing a Bankruptcy even though their credit is shot through late payments on mortgages and other bills. Filing Bankruptcy put all collection activity on hold and your accounts show current and up to date as long as you make your payments on time. Most people are surprised tofine their credit in much better shape after a BK than before with a much higher credit score Late payments can always be corrected, and this will be reflected on your credit file. Bankruptcy, however, will stay on your credit file for six years.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
How much debt can you have before filing for bankruptcy?
There's no maximum amount. If you can't make your payments you file bankruptcy.
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
What bankruptcy can you file to keep your home if you are behind in payments?
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
Which hurts your credit worse bankruptcy or late payments?
Late payment will drive your credit score into the ground rapidly. Many people question filing a Bankruptcy even though their credit is shot through late payments on mortgages and other bills. Filing Bankruptcy put all collection activity on hold and your accounts show current and up to date as long as you make your payments on time. Most people are surprised tofine their credit in much better shape after a BK than before with a much higher credit score Late payments can always be corrected, and this will be reflected on your credit file. Bankruptcy, however, will stay on your credit file for six years.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
How much debt can you have before filing for bankruptcy?
There's no maximum amount. If you can't make your payments you file bankruptcy.
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Can you file bankruptcy in Ohio then move to Germany before the bankruptcy is complete?
Yes, you can move anywhere you want to, but if you are paying payments (Chapter 13) you are still legally obligated to make the payments.
Can i file bankruptcy if i am not past due yet But I am using credit cards to may all my monthly payments?
Yes but it may not be the best choice for you so consult with an attorney first and consider your options. Whether or not you have late payments doesn't matter. If you have debt and your income cannot support your expenses, you can file.
What bankruptcy can you file to keep your home if you are behind in payments?
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
Can you keep your home if you file a chapter 13 bankruptcy?
Yes, as long as you keep making the payments.
Should you file for bankruptcy if you can not make credit card payments?
yes noob how dont you know that
Can you file bankruptcy on restitution?
No you can not file bankruptcy on anything that is court ordered.CAN YOU FILE BANKRUPTCY ON RESTITUTION?
How will you know if someone that owes you money and is making scheduled payments files bankruptcy?
Go to where the bankruptcy is filed and have the file pulled and there will be an accounting of all the debts and payments being currently made. It is public information.
When do you file bankruptcy letter of intent?
You should file a bankruptcy letter of intent as soon as possible so that your creditors will be on notice. This will stop the harassing calls and foreclosure proceedings if you are behind in your mortgage payments.
