If I file chapter 7 or 13 how long can I stay in my house?
Yes, in most cases, a person can keep their cars when they file for Chapter 7 bankruptcy. It will ultimately depend on the bankrupt court.
Yes...You have to Re-Affirm your loan..Talk to your Attourney
The vehicle that is protected by the state or federal exemption is the one which the debtor will be allowed to keep.
Yes, as long as you keep making the payments.
Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.
Can u keep your checking account after filing chapter 13?
Chapter 7 bankruptcy is for an individual, company or corporation and will stop collection attempts in exchange for giving up assets. This type of bankruptcy is for people who can not afford to pay their debts. Sometimes people who file chapter 7 are allowed to keep some or all of their property but what they are allowed to retain will vary from state to state.
Can I keep my paid off autos if I fie bankruptcy?
yes, just keep your house exempt from the bankruptcy
Sure...you can not want to keep the house without filing BK too
Yes, you can keep you car in chapter 7 bankruptcy. In Chapter 7 bankruptcy there are some rules. You can only file Chapter 7 if your income is below your state's median or is not enough to pay off your current debt.
Maybe. If you can pay for it. If not, with our without some form of BK, no.
If it has value above its debt, probably not.
It is a myth that you will lose everything if you file for bankruptcy. While the bank is allowed-under Chapter 7-to liquidate assets, there are number of exemptions including tools of the trad exemptions, primary vehicle, and others.
Yes, if you file a Chapter 13, usually you can retain all your property, although you will have to reaffirm your agreements that relate to a mortgage(s) and auto loan(s). No, if you file a Chapter 8, some assets personal and real will have to be forfeited.
You may, provided you do not list it in the bankruptcy, you file chapter 13 reorginization, or if you reaffirm with the mortgage holder. That is a dangerous answer. You must list all assets, including your house, in a bankruptcy. You can keep the house if you reaffirm the mortgages and other debts secured by the house in a Chapter 7 and you are not in arrears on the mortgages, or you file a Chapter 13 to get caught up on the secured debt arrears.
The petitioner will be allowed to keep whichever vehicle is protected by the state or federal exemption.
An unfortunate aspect of Chapter 13 bankruptcy plans is that the budget is very strict and hard to keep. An individual having problems with the chapter 13 bankruptcy can convert into a chapter 7 bankruptcy or re-file altogether. Make sure to look into the changes and different effects that a chapter 7 (as compared to Chapter 13) will have on you.
Yes - I was able to keep my 2003 Ultra Classic Anniversary and my husband kept hie 1994 Lowrider
It depends on which "chapter" of bankruptcy you file. I suggest you speak with an attorney to see what you can do.