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If you and your husband recently had your Chapter 7 bankruptcy discharged how long will it take to reflect on your credit report score?

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2008-10-17 08:10:04
2008-10-17 08:10:04

10 years before the Chapter 7 is removed. It will decrease your scores dramatically to 400s to 500s.

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You can file bankruptcy together or individually when you are separated. What happens in your separation could affect your ability to file Chapter 7 and you may have to file Chapter 13 instead.

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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.

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Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.

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In general, child support is based on net income - child support obligations are not discharged in bankruptcy.

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Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.

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Yes! The only thing is the chapter 13 will have to be discharged at closing. Depending on how long she has been in the bankruptcy, this may not be a big hassle. It is impossible to refinance a home in a chapter 13 without the BK being discharged. For more information, please feel free to email me at Travis.Fleury@gmail.com. I work for one of the largest direct private mortgage lenders in the country, i'd be glad to help answer any other questions.

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Assuming these are medical bills incurred after your Chapter 7 filing and you received a discharge, and they are for medical services for you, not your husband, they will come after you. You should consider filing a chapter 13 to pay them off in whole or in part, depending on your income and expenses. If your husband has a bankruptcy lawyer, he should ask the lawyer. You may consult your own lawyer.

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Yes you can, he may on the other hand will not be able to receive a discharge under the same chapter for 6 years.

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No. As long as you are filing for bankruptcy by yourself, your money with your husband will remain joint. Keep in mind that any debts you may share with your husband will remain with him as well.

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cant you sign it over to someone you trust like a wife , husband etc.... so it cant be taken

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If you filed a Chapter 7 and it has been discharged your tax refund will not be taken. It will only be taken if you have filed a Chapter 13 and that is entirely up to the Trustee.

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No. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.

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Secured debts are not dischargeable in bankruptcy. As a co-borrower or co-signer you are equally responsible for the debt even though you do not reside in a CP state.

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A Chapter 7 case is commenced by the debtor filing a voluntary petition or at least three creditors filing an involuntary petition. A husband and wife can file a joint petition. 11 USC ยง 302.

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In general, the filing of bankruptcy by one spouse will not affect the other spouse's financial situation. A debt is created by contract between a debtor and a creditor - each debtor must sign the contract to be liable for payment. Therefore, the bankruptcy of one spouse does not cause the other to become bankrupt. It helps that you do not have any joint accounts but if you have joint debts then the debt will remain with you and not be discharged with your husbands bankruptcy.

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YES, but joint assets will be included in the filer's bankruptcy, and other assets and payments to other debt might be included depending on actions involving them in the previous 2 years. An excellent book for a perspective on filing chapter 7 or chapter 13 bankruptcy, with description of key criteria: "The New Bankruptcy, will it work for You?", 3rd edition, by Stephen Elias, published in 2009 by Nolo; found in the Colorado Springs public library at 346.078 E42N (Dewey decimal system)

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I filed for chapter 7 in January 2003. Married in 2006, my husband had received a brain injury in August 2007 and has not worked since but was given many credit cards which total over 25,000.00 I was laid off in May 2008 due to a buy-out and can not pay these credit cards any longer. Can we file chapter 7 at this time. Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago. The circunstances are irrelevant, BK is always done only as a last resort after unfortunate things.

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Firstly the couple filed for bankruptcy. Secondly wife filed for divorce. If the plan to Chapter 13 is set and repayment must start in less than 40 days as per law. Then you should read the link below, very important and hire an attorney:

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If the couple resided in a community property state both spouse's would have needed to file joint bankruptcy for the debt to be totally discharged. If one spouse did not file, it is quite possible the creditor will hold that person responsible for the debt owed.

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If you are referring to Hillary and Bill Clinton, neither of them have, singly or as husband and wife, ever filed for bankruptcy.

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No, you would call him your recently departed husband, or your deceased husband.


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