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How long after you sell property in the state of Alabama should you wait to file bankruptcy chapter 7 in order to keep the equity and not have to include it in your bankruptcy?
Wiki User
∙ 16y ago
Bankruptcy is a Federal law and a Federal court. State really makes little difference. Any transaction made to avoid paying creditors is able to to challenged. The look back with close scruitiny period is normally 2 years. You understand, if you have the money someplace, it will be subject to the bankruptcy and is probably better protected in the residence anyway.
Wiki User
∙ 16y ago
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Can you include payday loans in a chapter 7 bankruptcy?
Yes.
Can you include payday loans in a Chapter 7 bankruptcy in Maryland?
Yes.
Can you include taxes owed from 2008 in a Chapter 7 bankruptcy filled in 2009?
Yes
Where can one find something about chapter 11 bankruptcy filing?
The US Courts is the best place to source information regarding chapter 11 bankruptcy filing. Here you will find valuable information including how the chapter 11 bankruptcy works. Other sites that provide information include; Investopedia and Wikipedia.
What is the property limit you can include on a bankruptcy?
If by "property limit" it is meant what personal and real property can be exempted from bankruptcy, that is determined by the type of bankruptcy you must file, federal or state. To discover what the type and amount of property one is allowed to exempt you can search federal bankruptcy exemptions or (name of state) bankruptcy exemptions; in a few states the person can choose to use either set of exemptions or a combination thereof.
Can bankruptcy be filed on partially own property?
The answer to this really depends on the nature of the property and how it is held (i.e. tenants in common, joint tenancy). You can file for bankruptcy for your personal debts. If the ownership debt is easily severable then it is likely that you would be able to file for bankruptcy and include the property as well.
Can you include taxes owed from 2007 in a Chapter 12 bankruptcy filed in 2008?
I believe you pretty much have to.
What schedule do I list garnishment on chapter 7 bankruptcy?
i receive a judgment for ganishment but i have other bills which i qualify for chapter 7 does it get dismissed if i include it in the bankrutpcy
Would you be asked to put a mortgage on your house to pay your bills if you file for chapter 7 bankruptcy?
No. But if you have equity in your home it may not be the best approach. A chapter 13 is designed for a situation where the person has equity or is behind on payments. In a Chapter 7 - You will be asked to pay the Trustee the value of the equity of your home... so if you have $15,000 in non-exempt equity, you'll most likely have to write a check to the Trustee for $15,000 or surrender the home. no ,but if you include the Mortgage on your property in your bankruptcy,most likely you will have to surrender the property to a court appointed trustee
What can you lose in bankruptcy?
This is largely dependent on the chapter of bankruptcy that you're filing under. Is it for an individual? Is it for a business or a corporation. I will take the most common type of bankruptcy-Chapter 7-for an example. Under Chapter 7, the bank is technically allowed to take personal assets and property and liquidate it/them in an attempt to pay back debtors. But there are a number of exemptions and for many people, they do not lost personal items after filing for Chapter 7. Common exemptions when filing for bankruptcy include tools of the trade-such as a car that is used to commute to and from work-and clothing under a certain dollar amount. The article below lists many of the possible exemptions for different chapters.
What is full bankruptcy service?
Generally, it means a bankruptcy prepared by an attorney who also represents you in the 341 meeting required by the bankruptcy law. In a Chapter 7, it usually does not include representation in motions for relief from stay, objections to discharge and other possible responses to the bankruptcy. Chapter 13s usually require more services, and cost a lot more.
Are there different kinds of bankruptcy attorneys?
As there are different chapters of bankruptcy, a bankruptcy attorney may be more familiar in handling certain chapters. These chapters include Chapter 7, Chapter 11, and Chapter 13. There attorneys that can advise you which chapter to file for and then help in handling the entire process, while others simply consult without providing execution. It is best to contact attorneys directly, to find out what services they provide.
