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No, lawsuits do not prevent a person from filing bankruptcy. The lawsuit will be stopped when the BK is filed and the debt or judgment can possibly be included in the filing. It is at the discretion of the trustee as to whether a BK or any portion of it is allowable according to bankruptcy law. The BK petitioner has the option of appealing any trustee ruling with which they disagree.

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βˆ™ 2005-05-05 22:13:03
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Q: If you are being sued for credit card debt can a judge prevent you from filing for bankruptcy?
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Related questions

Can After 10 years of a Bankruptcy chapter 7 being dismissed and on your record is there anyway an employer or anyone can find record of this after the 10 years?

Bankruptcies are not supposed to be included on a credit report 10 years after it was filed. There is nothing to prevent someone from accessing bankruptcy court records, newspaper reports of bankruptcy filing, etc., at any time. Most employers and credit-granting entities will just look at the credit reports.


Can you get a loan after bankruptcy in Canada?

After filing for bankruptcy in Canada you may borrow money. The risk is borne by the creditor. During bankruptcy, after filing but prior to being discharged, you may obtain credit with a value of up to $1,000. without advising the creditor of your bankruptcy. Should you seek to borrow more than $1,000 you are obliged to advise the lender that you have filed for bankruptcy.


Does your score increase after filing bankruptcy?

bankruptcy will effect for your credit for an average of 7 years..consider it a way of purging the bad and being flagged for "high risk" until your prove yourself again


Can a bankruptcy trustee sell assets not owned but being used or leased at the time of filing?

No.


How can I prevent my credit card from being declined?

You can prevent your credit card from being declined by paying your bill on time and not exceeding your credit limit.


Does business bankruptcy effect personal credit?

If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.


Does business bankruptcy affect personal credit?

If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.


What does filing for bankruptcy involve?

The first step in filing for bankruptcy will involve a "means test" conducted by the court to determine your ability to pay your creditors and also looks at your financial status as compared to the average person in your area. The next step before being allowed to file is credit counseling. Upon filing for bankruptcy (provided that the 2 steps just mentioned are met) you must submit paperwork showing your income, debt, etc.


Will you get fired from your job if you file for bankruptcy?

No, you can't get fired for filing for bankruptcy because as what federal law prohibits an employer to discriminate against you for declaring personal bankruptcy. In fact, you will probably be happy and relieved to know that your constitutional rights protect you from being fired for filing bankruptcy. Yes, it is a violation of your rights, not to mention a crime to fire someone for filing bankruptcy. So, don't worry your job is safe.


Can you file for chapter 13 after being sued?

Yes you can file for chapter 13 bankruptcy after being sued. NO the liability and payments that attach if the other party is successful in the suit will NOT be discharged or reduced based on the fact that you have filed for bankruptcy. You will owe that individual the full amount (if they prevail) and it will stay with you throughout the bankruptcy proceeding and beyond. The above got it' hands crossed: ONLY items (debts and assets) that exist BEFORE (pre-petition) the filing of a bankruptcy ARE involved and protected by the bankruptcy. Those after the filing (POST petition) obviously are new and not excusable. There are some circumstances that may prevent a pre-petition item from being included: Type of debt (say child support), or if it was taken in "anticipation" of filing bankruptcy or too soon before so it looks that way.)


Can the IRS take your property if it has a lien on it?

The IRS can have your property sold for unpaid income taxes, yes, if you don't work something out with them or find the $ to pay them. Even filing bankruptcy may not prevent the lien from being enforced.


What happens if you receive a pay rise after bankruptcy?

If you receive a pay raise after filing for bankruptcy, it will not change things. In fact, the pay raise will end up being surrendered.

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