0
No, if the debtor is judgment proof (i.e. there are no assets/income for the creditor to take) then there would be no need to file a BK.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
When you file bankruptcy are you always in bankruptcy?
Bankruptcy is a legal proceeding in which a person can get a fresh financial start. Bankruptcy can be very useful and effective in resolving financial problems in certain cases.
Can you file bankruptcy as executer of estate?
Why bother? No one can legally inheret debt. Actually debt can be "inherited" if the deceased left a spouse and the married couple resided in a community property state, the debts then revert to the spouse whether he or she incurred them. In non-community property states the deceased's debts are included along with all nonexempt assets and property in the probate procedure. The nonexempt assets and property are then liquidated to pay debts according to their priority and to the extent that funds are available.
Where can one file for bankruptcy or fraud?
In order to file for bankruptcy a person will need to hire an attorney or lawyer. Bankruptcy has long term financial consequences for the person so a competent attorney should be hired.
Can a person keep and file bankruptcy if the home is under any mortgage?
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
Bankruptcy Court Cases: Reasons to File a Bankruptcy Case?
In a touch economy, there has truly been an uprise in the number of bankruptcy court cases filed everyday. Filing for bankruptcy is something that should never make a person feel ashamed or guilty. Rather, bankruptcy is a normal part of what happens when the economy takes a turn for the worse and people lose their jobs. This article will discuss the best ways that a person can handle his or her bankruptcy situation. When a person feels that debt becomes too much to bear, then it may be time to file for bankruptcy. If a person is unable to make his or her monthly payments on credit cards or simply owes too much in loans, then it is a good idea for this person to begin considering the possibility of filing for bankruptcy. If a person is unsure whether or not he or she should file for bankruptcy, then it is a good idea for this person to consult with a bankruptcy lawyer. A bankruptcy lawyer often gives a free consultation to any person that comes into his or her office. This consultation will reveal whether or not a person qualifies to file for a certain type of bankruptcy, as well as whether or not it is in a person's best interest to file for bankruptcy. To file for certain types of bankruptcies, there are certain conditions that must be met. For example, if a person wants to file for a Chapter 13 bankruptcy, then he or she will need to have a regular and stable income. If a person is a student without an income, then he or she will be unable to file for a Chapter 13 bankruptcy. If a person also does not have any assets, then he or she will likely be unable to file for a Chapter 13 bankruptcy. It is truly a good idea for a person to carefully consider the type of attorney he or she gets to work on a bankruptcy case as well. A person will need to make sure that an attorney is qualified to work on his or her case. A person should always make sure that a lawyer is in good standing with the bar association of a certain state, otherwise a case may be dismissed in court. One does not want to have this happen in court, since it can often be embarrassing and cost a person a lot of money.
You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
Can a person work legally if he file bankruptcy?
Yes. Filing bankruptcy does not affect your work status generally speaking.
Can a person file Chapter 7 bankruptcy if their spouse already has?
Yes, you can.
Can a person without social security number file for bankruptcy without being deported?
Yes, but if the debtor ever used a phony social security, some districts will NOT allow the person to file a bankruptcy.
Can a person file bankruptcy in different county if already file before?
I don't think so its possible to file the bankruptcy in a different country's and after all no one person in this world want to file such a hectic process of bankruptcy.bankruptcy is such a critical legal process that no one wants to face it.
What happens to the person who needs to file bankruptcy before discharged from previous bankruptcy?
The short answer is to get the case dismissed so it can be refiled.
Did Deltona Corporation file bankruptcy?
No they never did file for bankruptcy
