0
Doing so might jeopardize your bankruptcy and land you in jail.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Can i still file bankruptcy if my home is schduled for sheriff's sale?
It depends somewhat on your state law regarding foreclosure sale, but as a rule, you can save your house from being auctioned by filing bankruptcy. Whether you can keep the house depends on a lot of other considerations. Consult a local bankruptcy lawyer.
What are the remedies that are being implemented to save Lehman brothers from bankruptcy?
None. It is in bankruptcy.
If your home has no mortgage can you save it by placing in a revocable or irrevocable trust prior to filing Chapter 7?
Your best bet is to file a Chapter 13 and forget attempting to "hide" the asset. It will most likely create more provlems and can easily be considered a bad-faith transaction. Unless you have another reason to transfer the property, you may also see criminal charges for bankruptcy fraud.
What episode does jewelry bonney save zoro?
393
If you dont pay your property tax will that affect you in filing bankruptcy?
Well they just don't go away if you ignore them if that's what you mean. The taxes will be a claim, a secured claim, in your BK. It will affect what is availabel to pay others and may well affect your chances to save the property they are on.
Will filing chapter 7 save a home?
No. You still have to pay the mortgage.
Can you save a vehicle in repo status by filing bankruptcy?
You can stop a pending repossession on a car by filing Chapter 7. However, you will have to find a way during the automatic stay [i.e. the period of bankruptcy protection] to pay back past due payments, or else the auto lender will file for relief from the automatic stay to repo the car back. You [or your attorney] might have to tell them [thru a filed Statement of Intentions] that you intend to reaffirm the debt and work out a side agreement called a reaffirmation agreement, where you can make up the past due payments.
Can you file a chapter 7 after a chapter 13?
Believe it or not, the ploy is called a Chapter 20! A so-called "Chapter 20" bankruptcy is the process filing of a "Chapter 7" bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments. The 2005 Bankruptcy Reform Act attempts to limit "Chapter 20" bankruptcies by imposing limits on the filing of successive bankruptcies. Under current bankrupcy law a Chapter 13 bankruptcy may be filed only once every two years, and three years must pass after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors attempt to circumvent this restriction by filing for Chapter 13 protection while the Chapter 7 petition is still pending. That option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should be aware that missing even one mortgage payment after filing the initial "Chapter 7" petition may cost them their ability to save their home in a subsequent "Chapter 13" filing.
What bankruptcy should you file?
The type of bankruptcy that you file all depends upon your personal case. If you have little in the way of assets and a lot of unsecured debt, then Chapter 7 is likely going to be the Chapter to file. If you are trying to save a home from foreclosure or reorganize other types of debt, then Chapter 13 would be your best choice. Consult with an attorney to make certain you are filing the proper Chapter for your particular case.
Bankruptcy Worksheet?
Get StartedA debtor is a person or entity that owes a debt or obligation to another. A creditor is a person or entity to whom a debt is owed.The United States Bankruptcy Code is a federal law that permits qualified debtors to:discharge some or all of their debts in exchange for giving up all of their nonexempt assets, orreorganize their debts in an attempt to pay them back under relaxed terms.A bankruptcy may be voluntary (initiated by the debtor) or involuntary (initiated by the creditors). To begin a voluntary bankruptcy, the debtor files a petition in the United States Bankruptcy Court. Upon filing the petition, the debtor receives an automatic "stay" which orders creditors to pause in their collection efforts during the bankruptcy process. The debtor must file detailed information with the bankruptcy court identifying all assets, debts and creditors. All creditors must be notified of the bankruptcy so that each creditor can file notice of its claim with the bankruptcy court.By filing the petition, the debtor permits the creation of the bankruptcy "estate" which includes all of the debtor's assets, except those assets that the debtor successfully claims as "exempt" (those that are necessary so that the debtor can live and work). The rules for determining what property becomes part of the bankruptcy estate are complex. A court-appointed bankruptcy trustee administers the estate.There are several different types of bankruptcy to choose from. Each type is referred to by the Chapter of the Federal Bankruptcy Code in which it appears. In general, a Chapter 7 bankruptcy results in a sale of all of the debtor's non-exempt assets, but most debts are then discharged. Note that a debtor cannot discharge its debts if the new petition is filed within 6 years of a prior bankruptcy petition. In a rehabilitation case filed under Chapters 11, 12, or 13, the debtor retains his assets and makes payments to the creditors, usually from the post-bankruptcy earnings, pursuant to a court-approved payment plan which is more relaxed than it had been before bankruptcy.Anyone who is interested in filing bankruptcy should consult a qualified attorney. However, the information in this worksheet should save you and your attorney time in the preparation of your bankruptcy materials. By saving your attorney time, you may be saving yourself money."
Can chapter 13 be filed after chapter 7 is dismissed to save your home?
Yes, but you need to find out if there is a 180 day filing bar. (Yes automatically if there was a Motion for Relief from Stay). If the case was dismissed without the filing bar and without prejudice, then you can refile immediately.
What You Should Know About Filing Your Own Taxes?
It is always a good idea to save money on filing fees by filing your taxes yourself. However, if you are not careful, you could end up costing yourself more money. Seeking tax advice from a professional is always a good idea. They may know about loopholes and programs that you are not aware of. They could save you money on your taxes and save you a great deal of stress as well.
