You probably mean discharge. A bankruptcy is not granted; it is filed. A discharge (meaning your personal liability for a debt is discharged) is granted. The court signs an order granting it. Your attorney should send it to you or, if you don't have an attorney, the court clerk should send it to you. Otherwise, you can look it up at the courthouse or online with PACER (Google that word to find it).
If the judgment has not yet been granted by a court, it will stop the foreclosure. The mortgagee will have to file a motion for relief from stay to continue. If the judgment has been granted, it may stop the auction of the property. If the property has been sold, it will not have any effect. The answer can depend on your jurisdiction's laws regarding foreclosure, not on federal bankruptcy law, so consult a local bankruptcy attorney.
Whether or not a motion can be filed and will be granted for a lien to be removed after the bankruptcy has been filed depends upon individual circumstances. The expungement liens can be very complicated and it is best to have the action undertaken by a qualified bankruptcy attorney.
Yes. It certainly depends on how long you've been in the chapter 13. Most states say if you have been in the chapter 13 for more than 3 years, you will only have to pay back a percentage of the original balance of the bankruptcy. If you have been in the bankruptcy for less than 3 years, most states make you pay back the bankruptcy in full (100% of the original claims). If a creditor was included in your bankruptcy and they have been paid, you may refinance out of the bankruptcy without the creditors taking your money. Some things to keep in mind: in order to refinance, you have to be granted a "motion for post-petition financing" from the courts. This can take up to 2 months. Once that is granted, your refinance can be completed. Most people have an approval on their loan with a new mortgage company with the only stipulation being that the motion is granted by the court so that there is essentially no lag-time.
A person or persons would need to file for bankruptcy before having any contact with the court and/or bankruptcy trustee. A bankruptcy discharge is what is granted if the filing is deemed valid.
No.
The creditor reports to the credit reporting bureau(s) they belong to that the debt has been listed in a bankruptcy in which a discharge has been granted. Strictly speaking, any debt that a creditor does not challenge in timely fashion is probably discharged, unless the debtor has committed fraud during the bankruptcy. The court does not specifically determine that a debt is discharged unless an adversarial action involving the discharge of that debt has been heard and a decision by the court has been made.
No.
Yes...and generally granted to the jurisdicition...but penalties are frequently dismissed.
Yes. When the bankruptcy is filed an automatic stay goes into effect which halts all creditor action until the bankruptcy is completed and discharged. Creditors may request a lift of stay from the bankruptcy court, if it is granted the creditor may continue collection procedures including those such as a wage garnishment that is in affect. A lift of stay is rarely granted when the issue is unsecured debt.
In very simple terms, discharged means the BK filing was found valid, and the bankruptcy has been granted. Dismissed means that there was/were (an) error(s) of some sort in the filing and the BK has been disallowed. .
If a trustee opposes your bankruptcy, it means that they do not believe you should be granted discharge of your debts and, as a result, you might not be able to go bankrupt, if the trustee's position prevails.
Bankruptcy is the total or partial abolishment of debts after a formal filing with the government by either an individual or a company. If bankruptcy is granted, banks are able to liquidate assets-barring ones that are exempt-and possibly garnish wages. Credit scores are also severely hit by bankruptcy. The article below goes into more detail on the specifics of bankruptcy.