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If you file for bankruptcy the court will be in charge of finding a fair settlement. They can require the person in bankruptcy to sell their primary residence if that is the main asset of value. The rules vary by jurisdiction.
Independent of the bankruptcy the lender who has a loan secured by the property can foreclose and force the sale of the home if the payments are not made as agreed. A bankruptcy does not release the borrower from keeping up the payments on the home loan.
As most loans state, if you fail to keep up with your payments your home is at risk.
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How do you prove that you are not bankrupt?
If one files for bankruptcy in the United States, you do not have to prove that you are, and you do not have to be insolvent. Therefore, you are bankruptcy in a legal sense if you filed for bankruptcy. If you want to prove that you are NOT bankrupt all you have to show is that you have not filed for bankruptcy. If you meant insolvent, rather than bankruptcy, to prove that you are not insolvent you would have to show that your income exceeded your debts.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
Where would you find records of past car loans which was finance by Bank One then loan went into bankruptcy and paid out by bankruptcy?
Try searching your credit report for info. Last resort would be to go to Lawyer that filed your bankruptcy.
If you filed bankruptcy in Dec of 2004 can you get your refund that has already been taken for 2002?
No, the IRS will get to keep it. And, even if you could get it back, the bankruptcy trustee would probably take it to distribute to your creditors.
Will bankruptcy affect the co-owner of a house?
To me this is a pretty easy no. Once you get the report I would dispute it and make the bureau prove that your mom filed bankruptcy. They will not be able to so it will have to be removed. It sounds like the mortgage company got wind of the bankruptcy and told the bureaus that all of the owners of the house filed for bankruptcy. Are the co-owners married? If not, then the bankruptcy effects the owner to the extent that she (he, it) will need to get clear title since it cannot be sold unless the title (deed) gets cleared. Anyone out there knows what needs to be done? If two people own a house and one files bankruptcy - the bankruptcy can affect the other owner. First, if the house were to be sold or refinanced - the title company or lawyer (depending upon where you live) will search the local courts, where the bankruptcy procedures would be found. As long as the courts don't file an order that the house must be sold or anything like that then title company/lawyer will wait until the bankruptcy is discharged before proceeding. The way the deed is titled defines how real property is held and how it can be subjected to division or protection under bankruptcy laws or judgments. Every state has what is known as a homestead exemption, in the majority of bankruptcy cases this will protect property that is used as a primary residence. It is important however to know how the state of residency laws apply to joint ownership especially a "JTWRS" as opposed to a "TIC".
Can a mortgagor still file a deficiency judgment on you after you file bankruptcy?
a deficiency judgment should be discharged in a chapter 7 bankruptcy. You should file after you receive the judgment.Im pretty sure this debt would be classified as a unsecured debt.Also, I could be wrong but if you have already filed a bankruptcy then the lender foreclosed and there is a deficiency , the bankruptcy would prove you were insolvent.I think you only have 90 days after you first file.Again I could be wrong. a deficiency judgment should be discharged in a chapter 7 bankruptcy. You should file after you receive the judgment.Im pretty sure this debt would be classified as a unsecured debt.Also, I could be wrong but if you have already filed a bankruptcy then the lender foreclosed and there is a deficiency , the bankruptcy would prove you were insolvent.I think you only have 90 days after you first file.Again I could be wrong.
How do you prove that you are not bankrupt?
If one files for bankruptcy in the United States, you do not have to prove that you are, and you do not have to be insolvent. Therefore, you are bankruptcy in a legal sense if you filed for bankruptcy. If you want to prove that you are NOT bankrupt all you have to show is that you have not filed for bankruptcy. If you meant insolvent, rather than bankruptcy, to prove that you are not insolvent you would have to show that your income exceeded your debts.
Can you take the FINRA exams if you filed bankruptcy?
yes but that would be stealing unless you paid for it
Do creditors get money from settlement if no claim was filed during bankruptcy?
They would legitimately be entitled to be a party to the settlement but would need to apply to the bankruptcy administrator for consideration in this instance.
Can a judgment be collected from a dissolved corporation?
The judgment would have to be presented to the bankruptcy court. Wow! Who mentioned bankruptcy? This is a money judgment against a admin dissolved corp. If bankruptcy had been filed the judgment, if listed, would be discharged and worthless.
Where would you find records of past car loans which was finance by Bank One then loan went into bankruptcy and paid out by bankruptcy?
Try searching your credit report for info. Last resort would be to go to Lawyer that filed your bankruptcy.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
Can your ex come after you for a loan that he had to pay since you filed bankruptcy?
If you handled your BK correctly no, as he/she would be a creditor listed and whose debt is dismissed in the bankruptcy by the court too.
What did chanel west coast get arrested for?
Chanel West Coast has never been arrested. Recently, she has filed for bankruptcy. The bankruptcy would be the only reason she has been in court.
Can you buy a house for cash if your present house is being foreclosed on?
I would think so. Though the bank should be using all means possible to get that cash from you to pay for your currently foreclosed house. Even if they don't, paying in full with cash for anything will always be accepted.
Has delightful deliveries NY filed for bankruptcy?
I would like to know the answer to that as well They owe our company lot of money, and we cannot locate them. I understand wine.com has filed a suit against them.
If you filed bankruptcy in Dec of 2004 can you get your refund that has already been taken for 2002?
No, the IRS will get to keep it. And, even if you could get it back, the bankruptcy trustee would probably take it to distribute to your creditors.
