I believe, it is because it is property of the Academy and is, according to the recent Toni Braxton bankruptcy hearing, non-transferable; it is property of the academy and the recipient and therefore cannot be sold without both of their consent.
Of course. The real question is, can they force you to pay? In most states, or under federal law, if your only income is SSI or SSDI, they cannot force you to pay.
If you have filed bankruptcy because you cannot afford to pay your debts, a lender will not loan you money to purchase a house and it just doesn't make sense. You cannot continue to acquire assets while your assets are frozen and in the possession of the trustee in bankruptcy in a bankruptcy proceeding.
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
PEOPLE file for bankruptcy because of economic circumstances. Divorced men would have less motivation to do so than many, as child support is a debt that cannot be changed by bankruptcy.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
NO, not unless he co-signor files B/K also. But do be sure to tell your B/K attorney that there is a co-signor.
An inheritance is an asset. When you file for bankruptcy, you will need to list your assets & liabilities. It will be subject to deep scrutiny, because you cannot have your cake and eat it too.
The cosigner issue here is misplaced. The liability of a cosigner comes into play if the primary owner of the car cannot make payments. In the case presented, the primary borrower is doing fine. There is nothing a cosigner can do to take a car away.
No, child support arrears cannot be discharged in bankruptcy.
A Co-signer is always responsible for the item unless the primary borrower refinances and removes the co-signer. Unfortunately if the primary borrower filed bankrupcy it doesn't seem likely they will be able to refinance. Yes. Cosigner means that if for ANY reason the main borrower cannot pay, cosigner will be responsible to pay.
Bankruptcy does not relieve a tenant from paying his rent: it's not a debt. Rent is due in advance of the rental period and is not an extension of credit. Oh, and a landlord cannot evict a tenant simply because he filed for bankruptcy.
U.S.Mail or Fax and a Notary Public is all you need.
No. Obligations to the government cannot be discharged through bankruptcy action.
You cannot file a bankruptcy directed at one single debt.
Bankruptcy will not stop a garnishment. You cannot set aside civil judgments by filing bankruptcy.
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
The contract cannot be changed without refinancing, your cosighner is stuck with it unless the loan is paid off one way or another.
You cannot hear a dog whistle because it emits an ultrasonic sound that is above the range of human hearing. Dogs with their excellent hearing have no trouble hearing the tone of the whistle.
No, you cannot file my cell phone bill in a bankruptcy. However, you can file YOUR cell phone bill in a bankruptcy.
Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.
It depends on how the agreement is worded, but usually - NO. The co-signor is NOT the co-owner but is only someone whom the lender has qualified to act as a financial "back up" to the purchaser. This is not to say that the co-signor cannot become the car's owner but would have to go through the qualification process that would qualify them.
Depending on your state... a car that is included in a Chapter 13 Bankruptcy cannot be repossed. The Bankruptcy laws protect you from repossession. Just as long as you are in Chapter 13 and are making payments to the Trustee, your car cannot be repossessed.