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Should I file for bankruptcy after a repossession and other bad debts piling up?
Wiki User
∙ 15y ago
Only if you think that you cannot get out of the debt, or if your credit score is already very bad.
Wiki User
∙ 15y ago
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Can you file for bankruptcy with a repo on your credit?
The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.
In a bankruptcy the priority debts -- the debts that the court feels should be paid first -- are paid then the unsecured debts are added up.?
true
Can priority debts be included in bankruptcy?
You don't have a choice, ALL debts must be included in your bankruptcy petition. Oh, also, priority debts cant be discharged in a bankruptcy.
Can you file chapter 13 on a land contract?
A bankruptcy (either 13 or 7) is filed by a person and is to include ALL debts, not a particular contract. You should speak with a bankruptcy lawyer to find out if you qualify and what debts would be discharged or reorganized under a bankruptcy.
Can a man file bankruptcy without his wife's involvement and if he does how will she be affected?
A husband (or wife) may file for bankruptcy separate from his or her spouse. Technically speaking, this should have no effect on the other spouse as they are filing bankruptcy for their separate debts and you will not be held responsible for their debts nor will it be reflected on your credit report, etc. It is important to note that those debts you held jointly will remain with you (the spouse that did not file for bankruptcy).
True or false In a bankruptcy the priority debt the debts that the court feels should be paid first are paid then the unsecured debts are added up?
true
At what point in a Chapter 7 bankruptcy is it considered final with no new debts eligible for discharge?
When you file for Chapter 7 bankruptcy, you are responsible for listing all of your debts. Some debts are generally not dischargable (i.e. child support, most taxes, student loans, secured debts, etc.). When you receive a discharge for dischargeable debts, the discharge generally applies to debts listed in your bankruptcy filing and any subsequent amendments. The discharge does not apply to date incurred after you filed bankruptcy and generally does not apply to debts that you failed to list in the bankruptcy.
Can collection agencies pursue you for debts incurred after you have filed a bankruptcy?
NO NOT IF THE DEBTS ARE IN THE BANKRUPTCY. If they are included in the bankruptcy, give them your case info/ lawyer's name. After that they can be fined if they continue to call. If the depts are incurred after the bankruptcy then yes they can.
Is it possible to go bankruptcy only on one of your property if you own several?
No.. bankruptcy when you have many debts and no assets can be liquidated for you to pay your debts..
What are the laws pertaining to a credit reporting agency still reporting after a bankruptcy discharge?
Debts included in the bankruptcy should be noted as such in the credit report. The bankruptcy will remain on the credit report for ten years.
After bankruptcy are you still liable for old debts?
It depends on which debts are discharged in your bankruptcy. There are several types of debts, such as student loans, which consistently persist through bankruptcy. Moreover, you may be liable even for debts that traditionally are discharged, such as credit card debts, where there is even of bad faith and manipulativeness on your part, i.e. you racked up thousands in credit card debt in the days before filing for bankruptcy.
Can you file bankruptcy on your deceased spouses debts?
No.
