0
Is being in debt for 14000 too low to file for bankruptcy even if you are unemployed?
Wiki User
∙ 14y ago
Yes 14,000 is too low!!! Get a debt counsler and get on a program to pay this small amount!!! This can be paid over 5 years and your credit report will reflect a positive change. 14,000 is just too low...oh and by the way get employed!
Yes, however new bankruptcy reform goes into effect in approximately two weeks. Most attorneys are overloaded with BK cases and many are refusing to accept more, especially legal aid/legal services for those persons who have limited assets and income. Anyone who is contemplating filing a Chapter Seven, should begin the process immediately. When new BK laws take affect it will be almost impossible for the average consumer to file a total liquidation "7".
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Are you liable for debt cancelled in bankruptcy?
No you are not, If you deglared bankruptcy, that cancels your debt
If you Filed bankruptcy and are in debt again can you go to jail?
Not for being in debt again. You can be jailed for contempt if you have not paid a child support order or other non-dischargeable debt, but not for being in debt again.
If you are a landholder on a home and the person files bankruptcy will they be able to include the debt they owe you into the bankruptcy?
They can include it, but the creditor/landholder can file a relief of stay to have the debt excluded from being discharged in the bankruptcy. The decision of what debts are to be discharged are determined by state and/or federal law and the bankruptcy judge.
Can you stop a creditor from selling your account once you have filed bankruptcy?
No. The bankruptcy is to stop anyone who has a right to collect a debt from being able to collect, called the automatic stay. If the debt is listed in the correct debt owner's (creditor's) address and it is discharged, it does not matter who owns the debt.
Where can one get help for credit card debt bankruptcy?
There are many places where one can get help for credit and debt bankruptcy. For example, Debt Advisors Scotland, Consumer Information and Total Bankruptcy.
What is filing for Chapter 13?
While this is a very general question, I believe the question being asked is whether a debtor who is unemployed can file a Chapter 13 bankruptcy. Unfortunately there can only be general answers given, but it is a place to begin exploring options. Remember that while bankruptcy is governed by federal law, individual state laws differ, and the debtor will be governed by both, so please speak with a bankruptcy attorney in your state. Chapter 13 is - simply stated - a court authorized debt management program. It is a means of creating a pay-back plan and very often the Trustee is able to authorize a program where debts are essentially, eventually paid back in full. If a person is unemployed with no means of income, that would be difficult to structure.
How should an obligation that is discharged in a Chapter 7 Bankruptcy be reflected in a subsequent credit report?
The debt should be identified as being in bankruptcy or discharged in bankruptcy. It will remain on the list for 7 years. The bankruptcy will remain on the report for 10 years.
Will you get a 1099 for debt discharged in Chap 7 bankruptcy?
No. Unlike some non-bankruptcy situations, debt wiped out in bankruptcy (any chapter) is NOT income to the debtor.
Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?
If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.
Can a government grant help an unemployed person with a $20,000 credit card debt?
“Can a government grant help an unemployed person with a $20,000 credit card debt?
Can you file bankruptcy on a truck repo past due loan?
No, if you mean, can you single out this debt to "file bankruptcy on." You file bankruptcy on ALL your creditors. You don't get to pick and choose. But you can certainly include such a debt in bankruptcy.
Can a judgment be put on your credit if the debt was part of the bankruptcy?
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
