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What effect does filing bankruptcy have on liens that have already been placed on property?
Wiki User
∙ 17y ago
Whether or not a motion can be filed and will be granted for a lien to be removed after the bankruptcy has been filed depends upon individual circumstances. The expungement liens can be very complicated and it is best to have the action undertaken by a qualified bankruptcy attorney.
Wiki User
∙ 17y ago
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Does having a car in repo effect filing for bankruptcy?
No - having had a car that was re-possessed will not affect the filing of a Bankruptcy.
Can you hold your passport after you get declared bankruptcy?
A bankruptcy filing or discharge in bankruptcy should not have any effect on your US passport.
Is there a time limit for banks to foreclose on your home after filing bankruptcy been discharged?
The bankruptcy law does not set a time limit for banks to foreclose on your home after filing bankruptcy. In fact, banks are prevented from foreclosing or continuing a foreclosure already in process upon the filing of a bankruptcy without first obtaining an order from the bankruptcy court allowing it to foreclose or continue a foreclosure already commenced.
How long do you have to wait to file bankruptcy after I have passed a property on to your son?
Thank you for passing your property to my son. Since I do not have a son, I guess it remains in limbo. If your son paid you the value (equity) of your home, you will have to disclose the transfer, but it will have no effect on your bankruptcy. If you gave the property to your son for free, and there was equity in the property, probably two years, if you gave the property knowing you were insolvent and intending to deprive your bankruptcy estate of the asset. It would have been better to discuss this with a bankruptcy lawyer before passing the property, as you might have been able to exempt the property in the filing.
Can you own your own business while going through bankruptcy?
Depends on the type of bankruptcy you are filing. Generally a personal bankruptcy does not effect your business, and vise versa. However, if your business is filing bankruptcy, a Chapter 11 reorganization will allow you to stay in business.
If you have affordable auto insurance before filing bankruptcy based on good credit do you have to tell the insurance company you filed?
BK will not affect any insurance policies that are already in effect.
Can you sell personal property when filing bankruptcy?
When filing bankruptcy all assets are placed in a bankruptcy estate. Some assets are allowed to be protected and qualify for an exemption by the trustee. Items that are placed in exemption are permitted to be sold, but the trustee should be notified prior to the sale.
How do you file bankruptcy to get a judgment off your driver license?
Filing for bankruptcy will have no effect on any judgement that has been applied against your dirvers license.
When filing Chapter 7 bankruptcy should a car that is not paid off be included on the schedule of personal property?
no
Does bankruptcy attorney keep rental property income?
The answer to this question depends on whether you are filing Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, if the rental property has equity, meaning that the value of the property exceeds what is owed on the property, the trustee would almost definitely seize property and sell it to satisfy some or all of your unsecured debts.
Will filing bankruptcy affect your car insurance?
I have file for Chapter 7 twice and it has had no effect on my car insurance.
If a credit card company has already set a court date against you can you still file bankruptcy?
Absolutely, you can send the notice of bankruptcy filing to the court and you will not have to attend.
