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Will you lose your vehicle or house by converting from chapter 13 to chapter 7 bankruptcy?
Wiki User
∙ 9y ago
Probably there are much more chance that you will be loosing your house and vehicle by converting from chapter 13 to chapter 7 bankruptcy. There is a $25 conversion fee that has to be paid to the court. Depending upon the status of your chapter 13 case.
Wiki User
∙ 9y ago
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How do you buy a house while in a chapter 13 bankruptcy?
The chapter 13 petitioner/participant must receive the approval of the bankruptcy trustee for all major financial transactions.
Can i keep house and car in banruptsy?
It depends on what type of bankruptcy you're talking about. The most commonly referred to would be chapter 7 in which you would be allowed to keep a vehicle, however the house would be sold off.
How does surrendering your house in chapter 7 affect your credit report?
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
Can you claim a chapter 13 bankruptcy if you have any equity in your house?
Yes. That is probably one of the times this would be the correct Chapter to use.
Can you sell your house before the confirmation hearing?
Are you referring to a Chapter 13 bankruptcy confirmation hearing?
Can you file Chapter 7 and keep your house and car?
Whether you can keep your house and car depend on how much equity is in your house and car and the available bankruptcy exemptions within your state. If the bankruptcy exemptions allow you to protect the equity in these assets then you should be able to keep them in bankruptcy.
Who will sell you a house with a foreclouser on your credit report?
I don't think anyone will be ready for that.So its better that you can take a way or option where you house will be save from foreclosure.Filing bankruptcy is the very right option for this.Once you file chapter 7 bankruptcy or chapter 13 bankruptcy bankruptcy law has a provision called stop foreclosure and it goes in to the effect immediately after you file the bankruptcy.This way you can save you house and other important stuff.
How do you get a title from the bank if your you have been discharged from a chapter 11 but you can't get the title from the bank?
Real property such as a vehicle or house is not dischargeable in bankruptcy. The debt must be reaffirmed, paid or satisfied or the property forfeited to the lender. That being the case, the person would not be entitled to a clear vehicle or land title from the lender simply because the debt was included in bankruptcy.
In chapter 7 can you keep the house?
Yes. you can keep the home. Make sure to consult a bankruptcy attorney
How soon after Chapter 7 bankruptcy can you have the title to a house or condo given to you?
Why should you get the title? If the debt is secured by the condo or house, you cannot get a discharge of that debt unless you surrender the asset in the chapter 7.
We filed chapter 7 bankruptcy. When can the bank take the house?
When you either voluntarily give up the house or you stop making payments (foreclosure).
What is the process of converting chapter 13 to chapter7 We are in chapter 13 and it looks like with layoff we have to go to chapter 7 and lose the house. What do we do?
You file a motion to convert to chapter 7. If you are eligible, then the court should grant it.
