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If you filed bankruptcy 2 years ago what can you do to avoid a repossession?
Wiki User
∙ 12y ago
New bankruptcy reform will not become law until Oct 17, 2005. Even though you may have filed a chapter 7 two years ago, you can still file a chapter 13 consolidation bankruptcy if your situation fits the criteria. Any secured property included in a chapter 13 can usually be reaffirmed with the lender.
AnswerWhy would you want to reaffirm debt with a lender if the purpose of bankruptcyis to get out from under debt that you can't pay??????? oh that's right you work for the lender...... AnswerBecause the person cannot refile a chapter 7, but they are trying to find a way to keep from losing their property. A chapter 13 will allow the person to negotiate with a lender to make up missed payments and perhaps lower the orignal payment agreement. AnswerWhat property is this person losing???????????? AnswerThe poster is the same person who was trying to decide how to handle any deficit that might be owed if his car was repossessed. His loan amount was for $32,000. He can try to negotiate with the lender w/o the bankruptcy, but that was not the question to which I responded. In Oct. the new BK reform will force the borrower to repay the entire amount of vehicle loan, not just the deficit. Many major lending institutions are petitioning to have this become a universal creditor/debtor law, which would include vehicle repossession, and other property. If he is eligible for a 13 and he chooses to use that option, he can perhaps save his car, and not end up getting stuck with a large debt and nothing else.Wiki User
∙ 12y ago
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Can you refile chapter 13 bankruptcy under the new bankruptcy law after your case was dismissed to avoid foreclosure?
A chapter 13 can be filed if it has been at least two years from the date the first filing was dismissed.
Can a vehicle be repossessed once bankruptcy is dismissed in Birmingham Alabama?
Definately, and they often are. When you filed bankruptcy, you and your property were protected under the automatic stay. When you failed to satisfy the trustee during the bankruptcy and it was dismissed, the stay was lifted. At this time, neither you nor your property are protected. Repossession activities may and often will continue. Repossession is a waiting game. They have seven years from the date of your last payment to recover collateral or take other action to satisfy the debt.
Can you declare bankruptcy now that your first bankruptcy is discharged?
It depends on the chapter you filed under. If you filed under Chapter 7, you have to wait 8 years before filing again. If you filed under Chapter 13, you only have to wait four years.
Paula filed for Chapter 7 bankruptcy when she was 25 years old. How old will she be when the bankruptcy is removed from her credit report?
35 years old
Do you have to answer the question Have you filed or ever filed bankruptcy if it is discharged after 14 years?
IF the question is asked to you.. Have you EVER filed.. then yes, you do have to answer, if it only askes you if in the last 10 years have you ever filed you could say no.
In Maryland how long does a bankruptcy stay on your credit report?
Chapter 7 will stay on your credit report for 10 years from the date bankruptcy was filed. Chapter 13 typically stays on your credit report for 7 years from the date the bankruptcy was filed, however, can remain on your credit report for 10 years.
Is chapter 7 bankruptcy clear 10 years from court announcement or hearing date?
Chapter 7 Bankruptcy will be removed from a credit report 10 years after the date the Bankruptcy was FILED.
If you filed bankruptcy July 2002 how long will it be on your credit report?
10 years
Which taxes are not eligible for bankruptcy?
Payroll taxes and penalties for fraud are not it is not eligible for bankruptcy. If the debtor filed a tax return for the relevant tax years at least two years before filing, then it is not eligible for bankruptcy. If the tax debt is from a tax return that was originally due at least three years before filing for bankruptcy then it is not eligible for bankruptcy. If the IRS assessed the tax debt at least 240 days before the debtor filed for bankruptcy, then it is not eligible for bankruptcy.
If one spouse filed chapter 7 bankruptcy 10 years ago and the other spouse filed five years ago can you file again jointly?
No.
Can the company who filed bankruptcy stop your long term disability after twenty years paid into this plan when working?
the reason for cancellation is bankruptcy can they do that?
If you filed for bankruptcy 9 years ago can your disability lump sum be garnished?
No, I believe Bankruptcy goes off your record in 7 years. Check the law in your state.
