0
You understand being able/need to file bankruptcy is a bad thing...it's not something to strive for? It will effect you in many ways more than the debts you have now, for a long time. One main indicator is not just debts....but assets. Having a lot more debt than assets, more than you can ever hope to pay off, so much that you may drown in them, and assets that you don't mind losing, would indicate bankruptcy is an option. So having say $1,000,000 of debt is unimportant if you have $990,000 of assets....you would go bankrupt over $10,000. Doesn't overcomeable to me. Bad choice. So remember, not only do you get rid of many debts, you will also lose many things of value in bankruptcy. Things that may have even more value to you than the bankruptcy court will grant you for them!
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
Can a debt collector continue to call after you file bankruptcy?
No, not as long as they were included in the bankruptcy. You should give their information to your bankruptcy attorney, who will contact the debt collector. If that doesn't work, your attorney will certainly know what to do next.
Should you file bankruptcy or debt consiladation with a total credit card debt of 27k?
not unless you know you cant pay it then yes do so be for it gets out of control
Can you give a vehicle to your daughter before you file bankruptcy?
yes you can but your gonna be more in debt and i know you don't want to deal with that joto
What are the basics of bankruptcy law?
Bankruptcy law is when a judge declears that you have the inablity or impairment to pay a debt.creditors may file an involintary bankrupcy to reclaim some of their debt.
What is the purpose of credit counseling?
The purpose of credit counseling is to let a person know ways to reduce their debt. They also counsel people in ways to stay out of debt. A person might need credit counseling if they are about to file for bankruptcy.
When can you refile bankruptcy after a previous bankruptcy discharge?
That depends on your situation. If you have filed but not received discharge of debt, then you may refile immediately. If you filed for chapter 7 and received discharge of debt, then you can file eight years after discharge date for chapter 7. If filed under chapter 13 and received discharge of debt, can refile after two years for same chapter 13. http://www.jacksonwhitelaw.com/what-we-do/get-help-filing-for-bankruptcy/ If the first bankruptcy, C. 7, was dismissed for cause, you have to wait 180 days before refiling. If you file a C. 7 and get a discharge, you can file a C, 13 immediately after the 7 is closed, called a "Chapter 20" by bankruptcy lawyers who know what they are talking about.
If you file for bankruptcy will you lose your car?
Need to know type of Bankruptcy 7, 13, 11 ??
When is it smart to file bankruptcy?
When you are beginning to feel overwhelmed with debt, you are being threatned with being garnished, or you are being garnished. You have judgments, you are up for repo, your house is in foreclosure, you will know when it's time.
Can you file bankruptcy on a home equity line of credit and keep the house?
You file bankruptcy as an individual. It involves everything you owe and everything you own. You cannot file bankruptcy for only one loan The bankruptcy process can exempt certain assets from the process. Some debts may not be cleared. A debt secured by a specific asset has first call on the funds from the sale of the asset. If the sale fails to pay all that is owed, the additional amounts can be claimed as unsecured debts owed. If you want to know more about bankruptcy in your state and how you may be able to protect your primary residence you should consult with a bankruptcy attorney.
How do I know if I qualify to file bankruptcy in the state of Ohio?
Who really cares
What Bankruptcy Alternatives available for consumers?
There are a number of bankruptcy alternatives available for consumers in search of debt relief. It is very important to know and understand the differences. Total Debt Services is capable of assisting you with multiple debt relief options and help you make the right choice for your situation. Due to changes in bankruptcy laws, consumers are seeking bankruptcy alternatives such as debt settlement, Credit Card Counseling and Debt Consolidation to get out of debt. Call now to speak with one of the debt analysts of totaldebtservices.com or click to fill out an online submission form to have them contact you.. source: http://www.totaldebtservices.com/
How often can one file bankruptcy for businesses?
The first step in filing bankruptcy for any business is to speak with a bankruptcy lawyer. There are many different types of bankruptcies and one needs to know which one to file before anything else can be done.
