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What happens if you are in bankruptcy and then become unemployed?
Wiki User
∙ 11y ago
If you are in a chapter 13, if you are no longer able to make plan payments, you must either convert to a chapter 7 or dismiss the 13.
Wiki User
∙ 11y ago
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How long do you have to be unemployed to file chapter 7?
You do not have to be unemployed to file bankruptcy.
If you are unemployed can you pay off the bankruptcy yourself?
If you are unemployed, your benefit compensation would hardly be enough to pay off a bankruptcy.
Can you work after you declare bankruptcy?
Yes, you are not required to be unemployed to declare bankruptcy.
If you are currently under bankruptcy and become unemployed can you file for unemployment benefits?
Sure, the BK is not a factor and won't even be anything the UI cares or knows about.
When do you become eligible for unemployment benefits when a corporation has filed bankruptcy?
When, (or shortly after as some programs have small waiting periods), you become unemployed. Many, (if not most) Cos continue operating, maybe forever, especially in C-11 and even for some time in C-7 (and in C-7 your division/operations may be bought by someone and continued). You may never become unemployed.
Why a person do bankruptcy?
Some factors which lead to the Bankruptcy.1. Due to job loss unemployed.2. Poor/Excess Use of Credit3. Unexpected Expenses4. Medical Expenses
What happens if a co signer files bankruptcy?
They both go bankruptcy
What happens if people are unemployed?
They are sent to camps to be Decommissioned.
What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
What happens if you get unexpected money after bankruptcy was discharged?
nothing
What happens when a judgment is against us while in the process of claiming bankruptcy?
If you are filing bankruptcy, you should have a bankruptcy lawyer onboard, and this is a question for him or her to deal with. You do not want to go through a bankruptcy on your own, especially as the bankruptcy rules have changed.
