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All possessions should be valued at 'yard/garage sale' prices. When filing bankruptcy schedules all the information they contain is presumed to be given under oath. If any information is found to be false or misleading, the person(s) can be charged with perjury, contempt of court and a few other very unpleasant things.

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โˆ™ 2005-04-22 21:55:01
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Q: How do you price belongings after a bankruptcy filing and how are things taken verified?
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The sheriff has scheduled my home for a sale. Will filing bankruptcy chapter 7 stop this process?

generally filing for bankruptcy puts a stay on the collection of debts, including a foreclosure. get in touch with a bankruptcy atty asap, because there are things you are required to do before filing.

Can you file for divorce after filing bankruptcy?

of course you can. One does not inhibit the other. If you filed for bankruptcy as a couple, then the bankruptcy will proceed during the divorce, it just may complicate things. If you filed for bankruptcy as an individual then there should not be too much of an issue because you were only filing for bankruptcy as to your individual debt.

Can you cosign for a car if you are filing for bankruptcy in the future?

If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.

Does getting divorced change filing bankruptcy?

No, your relationship status does not affect your bankruptcy proceedings but if you filed as a couple (as opposed to one individual to the marriage filing) things can get complicated when it comes to debts, etc.

Can you file bankruptcy on bad checks?

When filing bankruptcy, there are many things that can be covered under chapter 7 or 11. Bad and fraudulent checks that are written are one example of things that are not covered.

What happens if you receive a pay rise after bankruptcy?

If you receive a pay raise after filing for bankruptcy, it will not change things. In fact, the pay raise will end up being surrendered.

Can gold bars be taken in bankruptcy?

Any assets you have are potentially forfeit if you file for bankruptcy. There is no way to 'lock away' part of your estate above and beyond the things the law allows you to keep - such a practice would defeat the object of filing bankruptcy in the first place.

Does your card have to be verified to be able to buy things with PayPal?

No, you can still buy things if your not verified.

Qualifications for bankruptcy?

The answer to this depends on the type of bankruptcy you are filing. For chapter 7 Bankruptcy, the process takes about four to six months, with filing and administrative fees, and one trip to the courthouse. Other things that you must do include: Filling out a two-page petition and other forms (describing your property, income, monthly living expenses, debts, exempt property, property owned and money spent in the previous 2 years, and property given away in the previous 2 years and Filing the petition/forms with the bankruptcy court in your area.

Should a friend pay homeowners insurance after filing bankruptcy?

Of course...and by your either need an attorney or need to have the one your using explain exactly what your doing. Bankruptcy doesn't change your obligation to maintain, care for, and ability to lose things you own...just as before it. You probably still own your home, why wouldn't you want to insure it and its contents and all the other things HO Ins covers? And of course, as part of your filing and the court agreeing to protect you from creditors (your insurance company is not a creditor on bills for after the BK filing), you swore to the court you would do all the things needed to protect and maintain all your assets. And of course....the insurance I presume is protection for some period after your filing.....and your bankruptcy is protection ONLY for things from before it. Everything after the filing is YOUR personal and basically unavoidable repsonsibility...and risk of loss.

How can you learn about filing bankruptcy online?

There are many baktruptcy sites but many things will depend on your personal situation so you are better off meeting with a bankruptcy professional in your area to discuss how it would impact you. The US courts website has unbiased information on filing online and should be considered over private sites

What is the statute of limitations on unpaid taxes to the IRS?

Generally ten years, but there are several things that can extend this. Anytime the IRS cannot collect the debt, the statute of limitations is tolled, or stopped. This includes filing bankruptcy, filing certain appeals, filing an Offer in Compromise, or if you leave the country.

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