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What are two strategies you could use to get out of credit problems without declaring bankruptcy?
Wiki User
∙ 18y ago
debt consolidation or debt negotiation
Wiki User
∙ 18y ago
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What steps can people in credit card debt take to reduce their debt without declaring bankruptcy?
Credit card debt consolidation with the help of an accountant or a debt consolidation service and careful management of income can be helpful steps in reducing your credit card debt without declaring bankruptcy.
What does becoming bankrupt prevent you from doing?
Declaring bankruptcy prevents you from using credit cards, obtaining credit over $500 without contacting the creditor, and making payments directly to your creditor. Declaring bankruptcy is a very serious matter and is one you shouldn't choose to do without a lot of consultation on your financial providers part.
How do you get phone service after declaring bankruptcy?
You should have no problems getting any type of utility in your name. Just call and sign up. Be prepared for security deposits though. (Which is not because of the bankruptcy) The easiest thing to do is get pay as you go or prepaid phone service. Often times you can do this with both cell phones and with VOIP phone service. Then you can have the service without paying huge deposits.
What does federal bankruptcy do?
you still have to pay back all debts, just on a stuctured settlement determined by the courts. after declaring bankruptcy, you will not be allowed to have any credit extended to you without permission of the court. if you include your house or any vehicles, you cannot sell them without permission. what it amounts to is the bankruptcy court is in charge of your finances other than monthly utilities. it all depends on which chapter you file-consult an attorney
If you incur a debt on credit card after you file chapter 13 and are still under the bankruptcy can that credit card company do anything legal to collect your debt?
Declaring bankruptcy does not allow you to go out and spend money without having to pay it back. Yes, the debt is not covered by the Chapter 13 filing, so they can do what they can to collect the new debt.
How will bankruptcy affect the sale of real estate property?
No property can be sold, transferred, refinanced, etc. while in bankruptcy without the permission of the bankruptcy court.
can i file bankruptcy without my husband in the state of idaho?
You can only file bankruptcy without a spouse in cases where the debt is yours only. For example, if you have a credit card that is in your name only then you can file without your husband.
How can a co-signer file bankruptcy on an unpaid vehicle without interfering the credit of the primary signer?
By listing the creditor on the bankruptcy schedules.
What are the rights or obligations of a co-signer for a loan that has been included in a bankruptcy and who does not have the money to pay the large debt himself?
The obligation is that the loan is now the liability of the co-signer who did NOT file bankruptcy. Your rights are the same as any debtor. You can pay the loan, or default. Declaring bankruptcy yourself is an option also. For those reading along...this is why lenders want a co signer before lending to people they don't think can/will pay off their promises. They've seen it before. So when/if the primary can't/doesn't pay, someone else will. This lender, unlike others who will get nothing by the primary declaring bankruptcy, will more than likely get his debt paid by - or the assets of the cosigner to do so. Funny, the deadbeat will now get away without paying the promises to this lender, other lenders and wanna bet, never repay the cosigner, ever, too!
Can you file for bankruptcy without a home?
Absolutely. Happens all the time.
Can a dealer sell you a car without court approval when you are in bankruptcy?
Yes.
Can a person without social security number file for bankruptcy without being deported?
Yes, but if the debtor ever used a phony social security, some districts will NOT allow the person to file a bankruptcy.
