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Is there a Statute on bankruptcy of home repayment in Kentucky?
Wiki User
∙ 14y ago
Bankruptcy is a Federal law. So, it applies in KY too. But bankruptcy is not for a specific debt. It effects everything you owe and everything you own.
Wiki User
∙ 14y ago
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If you include your house in a bankruptcy chapter 7 how will this show on your credit report Will it show included in bankruptcy or as a separate foreclosure?
If your home loan is included in your bankruptcy, the code describing your repayment behavior on your credit report for this loan will change. If the bank forecloses on your home, the code describing your repayment behavior on your credit report for this loan will change. The loan will have one coded description of your repayment behavior. Credit Agencies only care about your repayment habits, not which mechanism cost you your home. There is no separate report. Your credit is going to be BAD for many years. Whether the house was part of the bankruptcy or whether it was taken in a foreclosure action will not matter (it's not like one is better than the other).
How does the bankruptcy power work?
Bankruptcy plays vital role in your life if you are facing financial problems or having unsecured loans like medical bills, repayment loans,wage garnishment. Filing bankruptcy gives you strong legal protection from your creditors. If some one is facing home foreclosure then filing chapter 13 bankruptcy helps a lot. It stops home foreclosure & bring automatic stay.
If you file bankruptcy in one state and own a home in another state may you keep it?
The answer depends on the type of bankruptcy you file and the value of your home. In Chapter 7 bankruptcy, you may be required to sell the home unless it falls within certain exemption limits. In Chapter 13 bankruptcy, you can typically keep your home and create a repayment plan to catch up on missed mortgage payments. It's best to consult with a bankruptcy attorney to understand your specific situation.
Can a person give a home away while in a Ch 13 bankruptcy?
If what you want to do is give up your home so you don't have to pay the mortgage anymore, then the answer is yes. However, if you want to give up your home, then you should really consider a Chapter 7 bankruptcy, which does not require a repayment plan. Talk to a bankruptcy attorney in your area, who can tell you whether you qualify. For more information on the bankruptcy process, you can visit the website I added to the links. The above is provided for informational purposes only. It is not intended as legal advice, and does not create an attorney-client relationship.
What happens when you are left in bankruptcy?
You are not left in bankruptcy, you enter into it willingly. In chapter 13 you enter into a repayment plan and all your debts are paid in about 5 years. chapter 7 negates all debts that are unsecured like credit cards and leaves you with only your secured debt like home and cars. In both cases you keep your vehicle and home
Where can you find the Aussie Home Loan repayment calculator?
Any of your Australia lenders will be able to lead you to the Aussie Home Loan repayment calculator.
In Kentucky if you deed your house to your child if you enter a nursing home how long does the deed have to be in effect to insure it is safe from government attachment?
I believe that is a federal statute of two years
Settle Your Debt?
form_title=Settle Your Debt form_header=Work with your creditors to consolidate and set up a debt repayment plan. What is the total amount of debt you owe?=_ Do you own your home? = () Yes () No Have you ever filed bankruptcy?= () Yes () No
What are the Florida limits on home exemption in bankruptcy?
I believe you home is safe as long as it is your homestead in a bankruptcy. You should consult a bankruptcy attorney to be safe.
If you purchase a new home prior to bankruptcy is your new home part of the bankruptcy?
Yes, of course.
Can you include your home in a bankruptcy after the bankruptcy has already been discharged?
No.
If your home has equity and you file bankruptcy on the credit cards do they go after your home?
Generally you have to list your home as an asset. But there are different kinds of bankruptcy, and if things work out, your home ownership could be protected. See a bankruptcy lawyer!!
