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Sure...any lender still has the right to decide what it wants to make a decision on giving you a loan....YOU DON'T HAVE ANY RIGHT TO THEIR MONEY. Yes, it is on your credit report for 10 years, and even after that, a lender can ask about it or other non-discriminatory things that it thinks is relevant to making a decision. Clearly your credit history is absolutely relevant to a lender.
Not necessarily. Depending on the work load of the bankruptcy court, it might be up to a week between the time you file your bankruptcy and the time your creditors receive notice in the mail. It is possible that the lender repossesed the vehicle or it may have been stolen. Contact the lender right away to make sure they know about the bankruptcy and that you were protected by the automatic stay and report the car as stolen.
The homestead exemption can protect your home equity in Chapter 13 bankruptcy from being used to pay off creditors. If the Chapter 13 case is dismissed, the homestead exemption may still provide some protection against foreclosure by allowing you to keep a certain amount of equity in your home. However, without the structure of the Chapter 13 repayment plan, you may still be at risk of foreclosure if you are unable to catch up on missed mortgage payments.
Yes. Mortgages (in fact all loans) by the way are bought and sold virtually daily by all types of financial organizations. its how they raise funds to make new loans, among other things. Frequently, you don't even know it happens (the servicing stays where it was). And obviously, it makes no difference to you. The terms don't change. Your agreement is simply to pay what you borrowed.
No, unless the co-signer was also part of the bankruptcy process. If not, then no the co-signer would have to be responsible for this debt. Wanda Improve Credit, LLC
For filing bankruptcy? No. Filing for bankruptcy is not illegal and your right to do so cannot be waived by contract.For fraud? Yes, but the fraud would have to be proven.For the money you owe? Possibly, but pointless, since they are already a creditor and a successful lawsuit will only make them a creditor, which they were to begin with. It wouldn't even raise their standings in the priority of repayment from the bankruptcy discharge.
A lender can judge your capacity by assessing your income, employment stability, debt-to-income ratio, and overall financial situation. They may also consider your credit score and history of managing debt. This information helps the lender determine if you have the ability to repay the loan.
No. You virtually never "have to" file bankruptcy.Doing so will involve all of your other assets, including those ht aren't secured by property...and the secured property is still reserved to benefit those who have it is security in bankruptcy.
Bankruptcy filing does not stop a car repossession. The contract you entered into most likely gives the lender the right to reclaim possession of the vehicle if you default on the terms. Depending on the bankruptcy chapter (7 or 13), you may either a) Have to pay the deficit over time, chapter 13 or b) have the deficit forgiven, chapter 7. The deficit is the difference between what you owe (+ repossession and disposition fees) on the vehicle and what it brought at auction. The lender is required to get maximum value for the car at sale. Genrally, courts have held that wholesale value satisfies this requirement. Therefore, the deficit is likely to be quite large.
Allmand & Lee have a great deal of experience in Bankruptcy contact them at 214-265-0123 There are many experienced bankruptcy attorneys in Dallas, the following website can help you ask the right questions to find the right bankruptcy attorney for you. http://www.markrubinlawyer.com/the-right-lawyer/
no itts not right for people to lose their homes because its not giving them the chance to pay the morgage no itts not right for people to lose their homes because its not giving them the chance to pay the morgage
The fact it was charged off means nothing to you...it is simply an accounting entry by the lender so his financial reports record the loss on the loan. You still owe it and they have the right to collect it.