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Do you need to state life insurance money previously received when filing a Chapter 7?

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2006-05-20 22:57:27
2006-05-20 22:57:27

Here's a link to a great site that will tell you what you can keep in a Chapter 7 filing: http://bankruptcy-law.freeadvice.com/consumer_bankruptcy/property_filing.htm

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I have file for Chapter 7 twice and it has had no effect on my car insurance.

If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.

can you change your filing from chapter 7 to chapter 13 ?

You may file for Chapter 7 at any time after filing Chapter 13.

Can you surrender your vehicle after filing chapter 13?

If received for last year yes. the one for next year, received after filing, no.

Yes. It is the most common reason for filing a chapter 13.

Generally, you cannot be discharged of debt under Chapter 7 if you received a Chapter 7 or Chapter 11 discharge within the six years before the filing of this petition or if you received a Chapter 12 or Chapter 13 discharge in a case that paid less than 70% to the unsecured creditors and was filed in the six years before the filing of this petition. These restrictions do not apply to a previous Chapter 13 bankruptcy. If you wish to file for chapter 13 bankruptcy however, the court lets you do that one time automatically after already filing for chapter 7 bankruptcy.

Currently, basically as many times as you can stay within these guidelines: Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.

In a Chapter 7 bankruptcy, a person filing for relief is called a

It depends on why you were not able to complete your initial chapter 7 bankruptcy petition. Generally, you cannot be discharged of debt under Chapter 7 if you received a Chapter 7 discharge within the six years before the filing of this petition. You are however allowed to file for chapter 13 if you only filed for chapter 7 once already. For many that is the best and easiest option.

The income you make after filing for chapter 7 does not count. What counts is all you had before filing.

You must wait 8 years after the filing of the petition before filing another chapter 7.

You have to wait eight years after filing for Chapter 7 and 4 after filing for Chapter 13.

about 4-5 months after filing chapter 7.

You can own anything you want when filing.

The insurance industry has pulled credit for many years to determine eligibility and rates. Rather than obtain a general answer to your question, why not pose it in a specific form to your agent?

You can file a another 13 after 2 years have passed from the previous 13 filing date.

Believe it or not, the ploy is called a Chapter 20! A so-called "Chapter 20" bankruptcy is the process filing of a "Chapter 7" bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments. The 2005 Bankruptcy Reform Act attempts to limit "Chapter 20" bankruptcies by imposing limits on the filing of successive bankruptcies. Under current bankrupcy law a Chapter 13 bankruptcy may be filed only once every two years, and three years must pass after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors attempt to circumvent this restriction by filing for Chapter 13 protection while the Chapter 7 petition is still pending. That option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should be aware that missing even one mortgage payment after filing the initial "Chapter 7" petition may cost them their ability to save their home in a subsequent "Chapter 13" filing.

Only if you have filed chapter 6.

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