0
If your friend is on a house loan with you and you pay the payment every month on time but he is filing bankruptcy could they still take the house from you?
Wiki User
∙ 17y ago
The deed to the property is what determines ownership and what action can be taken against the property during bankruptcy or the execution of judgment.
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
What can be done to attain employment at 60years old after filing chapter 7 bankruptcy What if there is reasonable reason for filing chapter 7 Could the reason for bankruptcy be told to the employer?
How to get after job filing chapter 7 bankruptcy once it appears on the credit report
Do you receive a check when filing bankruptcy?
Sorry, the question is confusing. In bankruptcy the filer reliquishes all non-exempt assets to the trustee, I have no idea of what type of "check" you could be referring to.
How do you start filling for bankruptcy?
The best option is to hire an attorney. Unless you are very practiced in law, you could make a mistake. Making a mistake when filing for bankruptcy can have serious consequences.
Can a debt be discharged in a no asset chapter 7 if it was incurred a few weeks before the filing?
For the most part yes. The only problem you could run into is if the creditor involved believes that you intentionally incurred the debt with the intention of then filing bankruptcy. If they can prove this the debt is determined to be bankruptcy fraud and nondischageable.
I am my mother's legal trustee due to alzheimers I am filing BK will this affect my trustee status?
Question is unclear. Who are you filing bankruptcy for, her, or you? If for her, it should not affect you, personally or financially, in any way. If you are filing bankruptcy for yourself, your status as the trustee of, and your availability to, someone else's assets may come under close scrutiny by the bankruptcy court and your creditors. It they suspect, or can prove, any co-mingling of your assets with that of your mother's, REAL problems could ensue.
Could creditors claim from a deceased estate if bankruptcy of the recently deceased occured 20 years ago?
The events from before the bankruptcy filing or discharge make no difference to anything incurred after. It is not a lifetime forgiveness!
If sued by collection what will happen?
If they get an award from the court (note that some collectors threaten law suit even though they might not have a good chance of winning an award), depending on your usual income and any equity in assets that could be liquidated to pay a settlement / award, then certain types of your property can be liquidated by court order for payment. Consider filing bankruptcy now. An excellent primer about either chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal. Also you might contact a paralegal or lawyer specializing in filing bankruptcy in the state of jurisdiction.
How do you get value of personal property for filing bankruptcy For Schedule B such as couch chairs washer dryer it asks for value is that determined by purchase price or what it could sell for?
What it could realisitically sell for
If I used my credit cards close to the filing of my bankruptcy will it harm when filing?
Yes. If you are declared bankrupt, the Official Receiver will review your conduct leading up to the bankruptcy. If you have obtained or used credit immediately prior to the bankruptcy, this could be considered fraudulent use and the Official Receiver may apply to Court for a bankruptcy restrictions order against you. Depending on the seriousness of the offence, this could be for a period of up to 15 years. The main restrictions in bankruptcy are; you cannot obtain credit of more than £500, you cannot be a company director and you cannot hold certain public offices, such as the trustee of a charity.
Can you declare bankruptcy you get 579 a month disability plus 62 food stamps you have 4000 credit card debt Cant pay the billss?
You could file bankruptcy, but do you have any assets that a creditor could come after? Your disability payments are exempt from garnishment. The filing fee for a chapter 7 bankruptcy is $209 and the attorney's fees will be $500 at a bare minimum. Bankruptcy is very difficult to do all by yourself.
While filing bankruptcy is your current bank notified?
Only your creditors should receive the bankruptcy notice. A careless petition preparer could have names and addresses on the list that do not belong there. If you don't owe your bank any money, they should not be on the list.
After 10 years could you go back into bankruptcy?
Yes, after a bankruptcy has been discharged (a 10 year period if chapter 7 was filed), the possibility of filing bankruptcy again is open. If you live long enough, you can file several times. This gives new meaning to the phrase, "Live long and prosper."
