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If the creditor has received a judgment the time is indefinite, as most judgments are from 5-20 years in duration and can be renewed. If a creditor perfects a judgment as a lien against real property, then the debt is considered permanent until paid or settled.
Wiki User
∙ 18y ago
Wiki User
∙ 16y agoYou do not have a right to credit.
No one has to ever grant it to you.
Their decision to do so is totally theirs.
How long or how much weight they give to anything is their choice.
A BK appears on your credit report for 10 years.
Logically, if your record during that time shows that you have gained the responsibility and ability to pay your debts, lenders (who make their living giving loans that are repaid according to the terms they agreed to), would like to have your business.
Wiki User
∙ 15y agoit depend on your state.some state "statue of limitation or (sol)is four years.California might have 10 years.go to Google and type in "statue of limitation"=then slash your state.
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Are accounts after bankruptcy included in bankruptcy?
Any debt that you accumulate before your bankruptcy filing and have listed on your petition will be eliminated when you receive your discharge as long as your creditors do not file an injunction against you. After you receive your discharge you are welcome and able to open new credit accounts but any debt you accumulate will not be considered a part of the bankruptcy you filed before opening the account.
How does a person file for chapter 11 bankruptcy?
To file chapter 11 bankruptcy one must propose a plan and then must find creditors to agree with this plan. Then, the person must take the plan and creditors to bankruptcy court where the judge will decide whether the plan can work or not. As long as the judge and all the creditors agree then that person can follow through with the plan and be in chapter 11 bankruptcy.
How long does chap 7 bankruptcy last?
A Chapter 7 bankruptcy case typically lasts between three and four months. Once the case is filed, there is a meeting of creditors (known as the 341 meeting) approximately 30-40 days after the case is filed. After the meeting, creditors have approximately 60 days to file objections or adversarial complaints to the debtor's discharge. Once that time frame has expired, the Clerk of the US Bankruptcy Court will send the Discharge Order to all creditors, to the debtor and to the debtor's attorney.
Can bankruptcy prevent garnishment of private long-term disability income?
Long term benefits are protected from creditors as long as you don't commingle those disability benefit monies with other monies in your bank account.
Your husband is co-owner of a lake home in MN with his sister She lives in FL and her husband is filing bankruptcy Chapter 7 Is the lake home safe from his creditors?
As long as the land is owned solely by your husband and his sister then it will not be affected by her husband's bankruptcy.
Can the bankruptcy court confirm the debtor's plan of reorganization?
A court can confirm a plan if that plan proposes to pay secured and priority creditors in full and unsecured creditors an amount that is fair and equitable. Thus, even if creditors do not vote in favor of the plan, the court can confirm it as long as it is fair to those creditors. The reasoning is that the court knows what is best and will not allow creditors to thwart the ultimate purpose of the code which is to provide for creditors what is fair based upon the financial circumstances of the debtor
How long can a company stay in bankruptcy proceedings?
There is no timeframe. Some take years. Some creditors can file suit in the bankruptcy court to protect claims if need be. This is normally used on items such as cars that go down in value over time and are secured claims.
Bankrupcy explanation letter?
A bankruptcy explanation letter is a letter that lenders or creditors require in order to issue credit. Depending how long ago and the situation, it may not be a factor in a lending decision.
How long after chapter 7 bankruptcy can you buy a new-used car?
The day you get your discharge paper. I do caution against that because ANY bad mark after a bankruptcy is taboo and you will not be able to finance anything for a long time.
When you go bankruptcy do you have to put up your house for collatoral?
In most cases you will not lose your home during your bankruptcy case as long as your equity in the property is fully exempt. Even if your property is not fully exempt, you will be able to keep it, if you pay its non-exempt value to creditors in chapter 13.
How long after meeting with creditors do you know if you can declare bankruptcy?
That meeting, the 341 meeting...is normally sometime after you have filed BK. They don't decide if you can declare BK, obviously because they would always say NO.
In Texas how long do creditors have after being notified of death to respond against an estate?
6 months after the issuance of the letters of testamentary/administration.
