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It is now out of bankruptcy,
Because of the "automatic stay", which goes into affect as soon as a Bankruptcy is filed, your car cannot be re-possessed while the Bankruptcy is in progress (unless the creditor files a motion with the court asking for relief from the automatic stay). However, as soon as the Bankruptcy is discharged or closed - which occurs approximately 6 months after it is filed - the car can be re-possessed.
ALL of these are false: A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy
If a judgment goes in the bankruptcy, it can be removed. The person who the judgment was for, has the right to request that it still be paid. In most Chapter 7 situations, the judge will decide in favor of the debtor.
Yes. When the bankruptcy is filed an automatic stay goes into effect which halts all creditor action until the bankruptcy is completed and discharged. Creditors may request a lift of stay from the bankruptcy court, if it is granted the creditor may continue collection procedures including those such as a wage garnishment that is in affect. A lift of stay is rarely granted when the issue is unsecured debt.
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You still owe money.
The use of a corporate bankruptcy attorney is to assist in the legal proceeding of filing for bankruptcy for a corporation. An attorney is necessary to make sure the process goes smoothly and everything is taken care of.
Yes, it is very very difficult to repair credit after a bankruptcy. Once an individual or a company goes to bankruptcy, then all of the belonging of them are taken by the bank & thus there is nothing left to repair with.
A firm may go out of business due to many reasons such as retiring, forced to sell by illness, or bankruptcy. But, usually when we hear that a "a firm goes out of business.." our thoughts would immediately think bankruptcy or failing.
One could measure this by asking an applicant, at interview, to read something and write something. However one usually goes on the basis of the applicant's academic qualifications as these could only be obtained if there was general proficient in the area of reading and writing.
No, I believe Bankruptcy goes off your record in 7 years. Check the law in your state.