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If you had a voluntary repossession in Illinois and receive a notice for the outstanding balance will the loan be wiped off if you file for bankruptcy or will the co-signer still have to pay?
Wiki User
∙ 18y ago
the co-signer is just as responsible for the debt as you are, hence the name "co-signer"
Wiki User
∙ 18y ago
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How long will a bankruptcy stay on credit report in Illinois?
Bankruptcy can stay on your credit report for 10 years. For more information about debt and bankruptcy, it is best to consult with an attorney. They can provide a complete picture of the benefits and negatives of filing for bankruptcy.
Can they garnish your wages for a repo in IL?
The lender may garnish your wages for a judgment against a debt in Illinois, even after repossession.
If you filed bankruptcy in Illinois and have not made a car payment this month but notified the bank of the bankruptcy will the car be repossessed or will you be notified to return it?
If you are not going to reafirm the loan, in other words- keep and pay for the car, then yes the bank will want the car back. Usually they will try to get the car back shortly after your 1st court date when the court has oked your petition to go thru bankruptcy.
What are the best known things in Illinois?
Illinois Best Known Products Boeing and tootsie roll industries
What us states are going bankrupt?
Executive Summary - There are now 10 states in the USA that are insolvent and expected to file for bankruptcy in the fairly immediate future (2010).Which 10 States - California, Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin. These 10 states account for over one third of the USA population and this is significant. Think of it is more then 33% of the USA going bankrupt.Other States on the Endangered Species List - Colorado, Georgia, Kentucky, New York and Hawaii. These states are in bad shape and can easily get pushed over into bankruptcy.
What are the repossession laws in Illinois?
There are several web resources about repossession in Illinois. In addition to this information, the Illinois General Assembly's website contains the full text of all Illinois Laws. Please see the links below.
Is repossession of a vehicle in Illinois allowed?
Yes
Where do you file for bankruptcy in cook county Illinois?
You can file for bankruptcy in Illinois at the United States Bankruptcy Court District of Illinois. You will need to decide whether you are filing for Chapter 7 or Chapter 13 bankruptcy. If you are unfamiliar with the process, it is recommended to seek the help of an attorney. Securing legal representation can be helpful for those who are overwhelmed by the bankruptcy process.
Can you be prosecuted as a felon in Illinois for not turning the car in for repossession?
I don't think keeping a car slated for repossession in Illinois is a felony. Yes you can it is a felony in the state of Illinois if you hide your car or any morgaed property from a secured creditor,It is called Concelment of Colleteral.Check the state of illlinos genaral assambley web site
Can you claim bankruptcy on court fines Illinois?
Fines in Illinois can not be claimed in bankruptcy if they are derived from criminal acts, parking tickets and traffic offenses. Additionally, court ordered fines and restitution will not be discharged under Chapter 7.
How long will a bankruptcy stay on credit report in Illinois?
Bankruptcy can stay on your credit report for 10 years. For more information about debt and bankruptcy, it is best to consult with an attorney. They can provide a complete picture of the benefits and negatives of filing for bankruptcy.
Can a car repossession in Colorado receive a judgment in Illinois you lived in co worked and bought the car in co the car was repossessed in Colorado and you moved to Illinois after that?
You can run but you can't hide.
Can you file bankruptcy on cash advance in Illinois?
One cannot file bankruptcy on a cash advance in Illinois. A cash advance totaling more than $750 taken on within 70 days of your bankruptcy filing, can't be discharge. The reasoning behind this would be an individual would have to prove intention to paying back an advance.
Homestead exemption for bankruptcy in Illinois?
Under Illinois Bankruptcy laws, the homestead exemption includes farm lot & buildings, condominiums, personal property or cooperative. These homes can be owned or leased. They can be up to $15,000, including the proceeds of sale for one year.
Can they garnish your wages for a repo in IL?
The lender may garnish your wages for a judgment against a debt in Illinois, even after repossession.
Name of bankruptcy attorneys in Chicago Illinois?
Ben Kahn and The Law Offices of Melvin J. Kaplan and Associates specialize debt relief and bankruptcy after losing a job.
Why Michelle Obama important to Illinois?
Michelle Obama is the wife of Barack Obama and was an outstanding first lady.
