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If you did not make your first monthly payment to the bankruptcy trustee what will happen?
Wiki User
∙ 19y ago
In some cases the trustee will allow a thirty day grace period for the missed payment. Pertaining to a first installment immediate action to dismiss the 13 might be taken. It is for the most part at the discretion of the bankruptcy trustee, missing any payment is reason for dismissal with prejudice.
Wiki User
∙ 19y ago
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What will happen to your direct deposit while filing bankruptcy?
Direct deposit of any monies while filing for Chapter 7 bankruptcy are safe. However, under Chapter 13 bankruptcy, an automatic payment may be required to the trustee from a direct deposit of wages and other sources of income.
What would happen to a monthly payment if the interest rate increased?
Either the monthly payment would have to increase or the period of the loan.
What can happen if you don't notify the trustee of inherited money after bankruptcy?
Nothing, or your bankruptcy discharge can be reversed, or you can be fined or sent to prison. It depends on how much you inherit and how long after the bankruptcy you inherited it.
If you do not owe the IRS will your refund been taken if you file bankruptcy?
It depends on the courts. I had a friend who went through bankruptcy and was owed a refund from the IRS. The trustee for the bankruptcy ordered her to turn over the refund to the courts to be paid out to creditors. So it could happen, but they cannot actually intercept or offset your refund. They will just order you to pay it to the trustee.
What happen when you pay off your monthly car insurance?
If you would like it to continue then you should make the next monthly payment.
In a bankruptcy preceding how does the court verify all assets?
When you complete your bankruptcy schedules you are swearing, under oath, that everything in them is true and accurate. The Trustee does have the ability to hire an appraiser to value your assets. If the Trustee suspsects you're hiding assets, they can hire investigators to verify, but most of the time this does not happen. Hiding assets is bankruptcy fraud and could land you in jail and fined if you're caught at it.
Does the court check with employers regarding bankruptcy?
No. The trustee, appointed in every case, might check with an employer in a rare case. In almost 40 years, I have never had it happen.
How long after filing bankruptcy can you take out a loan?
Once a BK has been accepted by the court, there can be no financial activity such as loans without the approval of the BK trustee, and that simply will not happen.
What happen if you miss a payment on a bankruptcy repayment plan?
For the best advice about the subject you should visit debtfish. They have a contact form for questions.
What is a motion to dismiss chapter 13 by a trustee?
There is no form. Its a typed motion. 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.
If your spouse files bankruptcy and his name is on the title to your house what will happen to your house?
The loan papers or who made the payment(s) unfortunately are not relevant to ownershp. If his name is on the titled, then the house belongs to both of you. How the property is handled during the bankruptcy, depends on how the title reads, and the state in which you reside. If it is TBE, then it is safe from your husband's bankruptcy. If it is JTWS, it would be handled a bit differently. I doubt that a BK Trustee would, (or could) force a sale. However, a lien could be placed against his portion of the property. Without knowing your state, it is difficult to make a assessment.
If you owe a thousand dollars to chapter 13 but are behind paying what will happen if you do not pay?
The trustee/bankruptcy court can dismiss the chapter 13. Creditors would then be able to pursue collection including filing a lawsuit.
