Yes, If you are trying to get the vehicle back you can file a Chapter 13. but you have a very short window typically 10 Days to get filed to have much success of getting the vehicle back. Or you may need to file if your window has passed to protect yourself from future liability. The lender will sell the vehicle and if there is a deficient balance will pursuse you for collection of the remaining balance.
can the IRS take your check if you file bankruptcy , chapter 13 or will I have to submit the check to them once received.
There is no definitive answer as to numbers. Actually it is irrelevant. Once any type of bankruptcy has been filed or discharged, your credit rating is down the drain.
The Bankruptcy Court has every right to claim the proceeds of a life insurance policy once you are declared by them as insolvent.
No. Filing a bankruptcy creates a public record that does not go away because you did not complete the bankruptcy. - once you file and get a case number you have filed for bankruptcy. if you didn't follow through and it got dismissed is regardless. you still filed for bankruptcy and it will still be on your credit report.
On my website, I have an article on 10 tips to rebuilding your credit after bankruptch: http://www.chs-law.com/2005/05/rebuilding-credit-after-bankruptcy.html
No, once a bankruptcy is dismissed it has to be refiled after the time limit has expired. The time limit to refile after a chapter 13 dismissal is two years.
How to get after job filing chapter 7 bankruptcy once it appears on the credit report
can the IRS take your check if you file bankruptcy , chapter 13 or will I have to submit the check to them once received.
You will receive a letter that your bankruptcy is discharged. You can also call the bankruptcy court or the trustee and find out if it is final.
No once filed on file. * A dismissed or discharged chapter 7 will remain on a credit report for ten years. A dismissed or completed chapter 13 will remain on a credit report for 7 years.
Yes, but if you have previously filed a chapter 7, you must wait 4 years before allowed a chapter 13 discharge.
No one ever plans to file for bankruptcy, but if you ever find yourself in a financial bind, filing for bankruptcy to remove most of your debts may be the only alternative you have to start over again and reclaim your life. By filing for bankruptcy, you can protect yourself from creditors that may try to repossess your property and who often make harassing calls to your home. In the United States, individuals that need to declare bankruptcy can file for either chapter 7 or chapter 13 bankruptcy protection. Chapter 7 bankruptcy protection is the typical bankruptcy that everyone thinks of when they hear the word. In chapter 7 bankruptcy, the courts will try to liquidate your assets in order to pay off your creditors. Once all your assets have been sold off, the rest of your debts will be discharged by the bankruptcy court. Chapter 13 bankruptcy is slightly different. Chapter 13 bankruptcy is often called a working man's bankruptcy and is intended for people that have jobs. In chapter 13 bankruptcy, your bills become reorganized and consolidated. You will then have to work out a payment plan for the courts. Once the court has approved your plan, you have a certain amount of time to pay off your debt according to the plan. Should you fail to adhere to the plan, your bankruptcy protection will be nullified, opening you up once again to creditors. In order to qualify for chapter 7 bankruptcy protection, you need to pass what the government calls a means test. In order to pass the means test and meet the qualifications for chapter 7 bankruptcy, you need to earn less than the median income of the state in which you reside. If you earn more than $167 over the median income of the state you do not qualify for chapter 7 bankruptcy. Many people want to qualify for chapter 7 because it discharges most of their debts instead of making them repay it later as in chapter 13. Chapter 7 and chapter 13 bankruptcies can eliminate most debts, but some debts can almost never be discharged by bankruptcy courts. This includes student loan debts, lawsuit awards, spouse and child support, and most taxes. Also before filing for bankruptcy it is important to know how a filing can affect the rest of your life. For one thing, chapter 7 stays on your credit report for up to 10 years. Chapter 13 bankruptcy will remain on your credit report for 7 years. Having a bankruptcy on your credit report will make it difficult to obtain loans, get credit cards, find housing, or even gaining employment.
You can receive a chapter seven discharge once every eight years.
Believe it or not, the ploy is called a Chapter 20! A so-called "Chapter 20" bankruptcy is the process filing of a "Chapter 7" bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments. The 2005 Bankruptcy Reform Act attempts to limit "Chapter 20" bankruptcies by imposing limits on the filing of successive bankruptcies. Under current bankrupcy law a Chapter 13 bankruptcy may be filed only once every two years, and three years must pass after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors attempt to circumvent this restriction by filing for Chapter 13 protection while the Chapter 7 petition is still pending. That option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should be aware that missing even one mortgage payment after filing the initial "Chapter 7" petition may cost them their ability to save their home in a subsequent "Chapter 13" filing.
There is no definitive answer as to numbers. Actually it is irrelevant. Once any type of bankruptcy has been filed or discharged, your credit rating is down the drain.
Yes and no. No you cannot file for two types of bankruptcy at the SAME time. But yes you can file for chapter 7 bankruptcy if you were unable to complete chapter 13, which is very common. This can be done once for any reason, without court approval. However, to switch back, approval of the bankruptcy court is required, and they will rarely allow a debtor to make multiple switches. Note that in switching from Chapter 13 to Chapter 7, much of the debtor's property is now up for grabs to be sold off to pay his or her debts. However, if the debtor cannot make the payments under a Chapter 13 bankruptcy, switching to Chapter 7 may be his or her only option.
Yes it is possible to qualify for a mortgage despite a Chapter 13 bankruptcy filing. In a Chapter 13 filing the debtor agrees to a court structured debt repayment schedule. Typically, after making payments on time to creditors as required by the bankruptcy agreement an individual can be discharged by the Court from the Chapter 13 proceeding. Once discharged from bankruptcy an individual can apply for a mortgage. Each bank has different rules about how soon someone can apply for a mortgage after a bankruptcy. Most people coming out of bankruptcy apply for an FHA mortgage loan since this program has the most lenient underwriting standards.