Assuming this is a straight bankruptcy, the mortgagee would lose the money that is owed to it on the mortgage loan. A bankrupt person or corporation loses all of his/her/ its assets to the Trustee in Bankruptcy so that the Trustee can liquidate those assets and distribute the net proceeds to the creditors. The mortgage loan is an asset which is then sold to the highest bidder along with the mortgage lien. The mortgage holder will now make the mortgage payments to whoever purchased the mortgage loan from the bankrupt estate. The mortgagee is left with nothing.
They both go bankruptcy
if the consigner files bankruptcy can the borrower take the car
They can be changed by the Court.
It depends on the way the house is included in the bankruptcy. If the mortgage is up to date and the landlord is reaffirming the mortgage, there should be no effect. If the landlord is abandoning the property to the mortgagee, you will either get a notice to start paying rent to the mortgagee or a notice to quit or both. Talk to a bankruptcy lawyer right away, as there are some things you may be able to do to delay things or get help moving.
your wages still garnished
Need the right answer
For any joint debts, the creditor will come after the spouse who has not filed bankruptcy.
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
Nothing, the ticket is not a debt and would not be included in their bankruptcy. The ticket should still be good.
Banks are insured up to 100,000.00 by the government.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
Your debtors BK effects your obligation to pay the same as your BK effects your creditors obligations to pay you. That is, not at all.
The primary would be held liable for the debt.
Her mortgage liability will be discharged.
Companies that file for bankruptcy still have to pay their employees, if they have enough money. Employees are prioritized during bankruptcy procedures, so the company will have to pay for their work.
The note becomes a part of the bankrupt individuals assets.
If the pastor files for personal bankruptcy, no - the church fund can't be touched. If he files bankruptcy ON BEHALF of the church, then any and all funds and assets of the church can be affected.
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
You may need to consult with your own attorney. The primary borrower's bankruptcy doesn't affect your obligations as co-signer. The lender may go after you for payment.
It belongs to the lender and YOU get to store until they come pick it up. yes...but dont forget to let them know you will be charging them a $60 a day storage fee, just like you would get charged.
Spousal support and child support debts cannot be discharged in a bankruptcy, so the ex spouse must continue to keep making the payments. Failure to do so can lead to a dismissal of the bankruptcy case.
Gone unless someone buys his business and assumes debts and obligations.
Of course not.
Your claim is most likely covered by a WC insurance, either a prvate policy the employer had or one with the State. As such, your claim should be unaffected by the Bankruptcy.