Property Taxes

If the finance company has repossessed your car and you have filed and been discharged in chapter 7 bankruptcy in Kentucky who owes the property tax for the current year on the car?

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2009-10-25 16:46:18
2009-10-25 16:46:18

You do. You were in possession of the car. The car was registered to you. Until the car is sold, you are legally and financially responsible for it.

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Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.

add on to question, buying piece of land with cash only, can it be done after being discharged of bankruptcy in July

Yes, if it is not a perfected lien against real property and the debt was discharged in the bankruptcy.

TAXES in CHAPTER 7sorry to tell you , but in Texas property taxes can not be discharged in any bankruptcy.As laws change every year it would be best to check with the city you live in

My guess is that they probably can still list a repo on your credit report. Normally you get a double-hit on your credit report when you surrender property in bankruptcy: you get hit with the bankruptcy (which knocks your credit score down by 75 to 150 points) and you get hit with a repo/foreclosure for the surrendered property. Just because a debt is discharged in bankruptcy doesn't mean that it won't be listed on your credit report, it simply means the debt is no longer collectable. The credit report will continue to show the debt on your credit report and should list it as "discharged in bankruptcy." Similarly, if a person surrenders a home in bankruptcy, the foreclosure still goes on their credit, and if a person surrenders a car in their bankruptcy, it still shows up as a repo on the credit report. So, my guess is that a repossessed car, even one for which the debt was wiped out in bankruptcy and one that was not repossessed for some time after bankruptcy since voluntary payments were made for awhile, will still show on the credit report as a repo when it is ultimately repossessed. I can't say this is a definitive answer, but this is how I think the process works. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.

No, this is not legal. When you filed the bankruptcy, you and your property are automatically protected under the "stay." The stay prevents any collections or repossession action for the duration of the bankruptcy, and will not be lifted until the BK is discharged or dismissed.

A dismissed bankruptcy cannot be discharged. Once a BK is dismissed it is no longer valid and creditors may resume collection action and/or repossession of property. The petitioner of the dismissed BK must wait the required amount of time before filing a new bankruptcy petition.

Parking tickets cannot be discharged under Chapter 7 bankruptcy. They can, however, be discharged under Chapter 13 bankruptcy. Chapter 7 bankruptcy is known as "liquidation" bankruptcy. This generally means that all of a debtor's non-exempt property may be sold by a bankruptcy trustee, though the laws for property exemption are different in each state. For example, in New York, most debtors are able to keep all of their property. Chapter 13 bankruptcy is a 'reorganization of debts', and allows the individual to keep their property and income while paying off all or part of their debt over a three to five year period. In the case of a Chapter 13 bankruptcy filing, the parking tickets can be considered "unsecured" debts (similar to credit cards and medical bills), and can thus be treated as such for repayment.

Yes. Some judgments can be discharged in bankruptcy. Judgments that have been perfected into property liens cannot as the judgment holder becomes a secured property creditor. Judgments awarded in conjunction with personal injury or property damage caused by negligence are generally not dischargeable.

My sister filed and was discharged in a bankruptcy, she did not reaffirm the house. She has moved out, she has homeowners on the property but is it still good if she does not live in the home.

Any debt discharged through BK is cleared and no longer exists. The debt may no longer exist but the lien against the property still exists. While you do not have to pay the loan, the note holder can still take possession of the property.

Unlikely, because no lender will give the person a mortgage. There is no legal barrier to buying real property if the person can get the funding.

If the lien is a mortgage or a tax lien, the bankruptcy may not have discharged the debt, and the estate would have to be probated. The estate may be bankrupt, and there is usually a state procedure for estate bankruptcy. Federal bankruptcy does not apply. Consult a local attorney experienced in estates.

A vehicle is a secured debt, therefore bankruptcy action would not reverse the repossession. Bankruptcy only places a temporary halt to repossession or foreclosure of secured property. The only option available to the borrower to recover a repossessed vehicle is to reaffirm the lending agreement or make some other type of settlement with the lender.

ALL your property (all your assets) AND all your liabilities are included...always..you do not pick and chose. You cannot go BK on a speci Save fc debt.They are given different priorities, some debts may not be discharged (like child support), and some assets (like household goods, work tools), may not be used. Secured debts. (and property taxes are secured to the property being taxed), get first claim to the proceeds from that asset.AnswerReal estate taxes cannot always be discharged in bankruptcy. Determining whether they can be discharged requires some investigation by an attorney who specializes in bankruptcy law. A secured debt for property taxes would be perfected by the recording of a tax lien in the land records.

It depends on the nature of the seizure. A repossessed vehicle has to be returned i it has not been auction to a 3d party. If money was seized by a tax agency, maybe.

Frankly...I've never hear of a mortgage debt being discharged without the underlying asset, the property, being given to the mortgage holder. It is possible your confused...that the property was transferred (or sold) and wasn't worth as much as the debt (mortgage) you owed...and the deficiency (the amount you would still owe...was discharged.But the house isn't yours...and you are a "tennant in adverse possesion".

The person wishing to take the action needs to be certain that the debts were actually discharged in the bankruptcy before he or she can take any steps to have the liens lifted. The other issue would be if the property was legally transferred according to the federal or state bankruptcy laws or if it is being challenged as a fraudulent conveyance. If the BK has not been discharged and in most cases closed as well then the liens may still be valid. The best option is to consult with an attorney who is knowledgeable in federal and state bankruptcy matters.

In the event of chapter 7 bankruptcy, you may retain possession of secured property only in the event you reaffirm with the lender. In the event no reaffirmation is signed for each piece of property, the property that has not been reaffirmed must be returned to the lender. If non-reaffirmed property is not returned to the lien holder (lender), that party may seek or continue with repossession of that property and any unpaid balance that is not forgiven by the chapter 7 once the bankruptcy is dismissed or discharged and the stay is lifted.

It depends. Depending on the interest of the Trustee in Bankruptcy, and whether or not they have abandoned the property, will determine whether or not the debtor in Bankruptcy will be permitted to take the property if the creditor has abandoned the property. Bottom line is that it depends on the facts, contact your Bankruptcy attorney or a reputable Bankruptcy attorney to get more information.

In most cases, you should be able to sell the property immediately after the case is close. However, you still shold consult a qualified bankruptcy attorney to review your case before taking further action.

It doesn't matter when the bankruptcy was filed or whether they made or claim or not. What matters is if the creditor had a secured debt or a lien against your property at the time of filing. The reason is that liens survive bankruptcy; it is your personal liability that gets discharged. For example, if you have a car with a lien against it and file bankruptcy, you don't have to pay the debt. That obligation was discharged in your case. However, if they have a lien against the vehicle, the lien survived your case and remains in effect. At any point after your case is discharged, they can recover the property to which their lien attaches. It is called replevin. They cannot collect any money from you, but can collect the property. If you life in a self-help state, they can repossess the vehicle in public. If it is a personal property item like furniture or a computer, they have to sue you in state court for the return (or replevin) of the item. They cannot come onto your property without a court order requiring turnover of the item.

No property can be sold, transferred, refinanced, etc. while in bankruptcy without the permission of the bankruptcy court.

Notarizing a promissory note does not give the lender any special protection if the borrower files for bankruptcy. The debt would be discharged in bankruptcy unless you could prove fraud or if you had a lien on some of the debtor's property.


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