Leaderboard
Wiki User
Answered 2006-09-12 00:44:46
The debts are still valid and creditors can continue with collection procedures including, in most cases, a lawsuit.
Your Answer
Still have questions?
Related Questions
What happens when a Chapter 13 bankruptcy is voluntarily dismissed in Georgia?
The same thing that happens when a Chapter 13 is dismissed in any other state. It is as if the bankruptcy was never filed. The automatic stay is lifted and the trustee returns any money left on hand to you.
What happens to the person who needs to file bankruptcy before discharged from previous bankruptcy?
The short answer is to get the case dismissed so it can be refiled.
What happens if you wreck your car after filing for Chapter 13 bankruptcy?
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
What happens when you are left in bankruptcy?
You are not left in bankruptcy, you enter into it willingly. In chapter 13 you enter into a repayment plan and all your debts are paid in about 5 years. chapter 7 negates all debts that are unsecured like credit cards and leaves you with only your secured debt like home and cars. In both cases you keep your vehicle and home
What happens when you receive an inheritence money when you are in chapter 13 bankruptcy in Illinois?
Bankruptcy is a federal procedure, so the state is irrelevant. Generally, you will have to turn the inheritance money ober to the trustee. It will be applied to your plan and may shorten or end the plan because the plan has been paid off. If the plan provided for less than 100% to unsecured creditors, the trustee may want to increase the "dividend" to the unsecured.
If you have a chapter 7 discharged and then something happens with your home can you open a chapter 13 to save your house then you change your mind and the chapter 13 is dismissed what does thi?
What happens if you have paid all fees for a chapter 7 bankruptcy and your trustee tells you to turn over your income tax check and you don't because you are laid off and you are using the income tax check to pay bills and medical expenses and the trustee has threaten to revoke your bankruptcy due to non payment of your income tax check
What happens if you file a chapter 13 bankruptcy and you cannot make the payments?
Your case is dismissed, and you lose all protection of the court. You can expect your creditors to then act quickly and agressively to seize what they can and secure any assets and judgments they can.
What happens to an incomplete bankruptcy filing if the filer dies before its completion?
The filer has to be in person for the 341 meeting so the bankruptcy would be dismissed. A bankruptcy may still be discharged if they are just waiting on the judge to discharge the bankruptcy.
If you file chapter 7 bankruptcy what happens with your state pension plan?
Uneffected.
What are the difference between Chapter 7 vs Chapter 11?
The difference between Chapter 7 bankruptcy and Chapter 11 bankruptcy is what happens to a party during the process. Parties undergoing chapter 7 bankruptcy must sell of their assets in an attempt to pay off dept. Chapter 11 allows for one to attempt to maintain their assets. During chapter 11 bankruptcy the party must negotiate with creditors to stay afloat.
What happens if you do no show up for 341 bankruptcy chapter 7 meeting in Texas?
Usually, the trustee will give you a second chance and reset the hearing. If you fail to show a second time, your bankruptcy will be dismissed. If you've missed the first hearing, you will be sent a notice from the bankruptcy court advising you if a new hearing has been set or what the trustee is recommending to the court.
What happens to employees in bankruptcy?
Assuming you are talking about the employer filing bankruptcy, it depends on the kind of bankruptcy. If a Chapter 7, they are screwed. If a Chapter 13 (not a corporation) or 11, it will depend on the plan. Downsizing is not unusual, and stripping of pensions is not unusual either.
You are currently in a chap 13 bankruptcy can I change to a chap 7 bankruptcy?
You cannot change my bankruptcy, but you can convert your Chapter 13 to a Chapter 7. It happens frequently. You may want to check with your lawyer or an experienced lawyer since it can have unintended consequences.
Husband and you are separated can you file bankruptcy?
You can file bankruptcy together or individually when you are separated. What happens in your separation could affect your ability to file Chapter 7 and you may have to file Chapter 13 instead.
What happens after chapter 13 bankruptcy?
Chapter 13 bankruptcy is basically a set repayment plan that is usually allowed by court, even if the creditor objects. When you satisfy your payments in the allotted time you have usually settled your bankruptcy. See the related link below for detailed info on chapter13 bankruptcy.
Can a landlord evict a tenant that has filed chapter 13 bankruptcy?
Absolutely - happens every day.
What happens to someone in a personal bankruptcy?
It depends on whether or not you qualify for Chapter 7 or Chapter 13. For Chapter 13, you will slowly have to pay your creditors back over time. For Chapter 7, you have to assign a value to everything that you own. The creditors will then determine whether or not these items will be included in the bankruptcy in a hearing.
If you filed chapter 13 in 1998 and it was dismissed by the court are you still liable to the creditors?
"Dismissed" is different from "discharged". If you truly mean "dismissed" (i.e., without a discharge), it's as if you never filed; you still owe, assuming the statute of limitations hasn't run on the debt (that varies by state). That usually happens only if you didn't follow all the rules. If you actually meant "discharged" (as normally happens at the end of a successful bankruptcy case, including Chapter 13), you don't owe. Technically, the debt still exists, but the discharge permanently enjoins the creditors in your case from enforcing it, thus effectively eliminating it.
What happens to surrendered property in a chapter 13 bankruptcy?
It's usually sold or auctioned off by the lienholder.
What happens if you are in bankruptcy and then become unemployed?
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.
What happens if you miss your meeting of creditors in a California Chapter 7 bankruptcy?
You will probably receive one more chance. You need to have your lawyer contact the bankruptcy trustee and see if it can be rescheduled.
What happens to contracts under a Chapter 11 bankruptcy?
Chapter 11 permits the debtor to accept or reject executory contracts (contracts whose completion is to be accomplished in the future).
What happens if i don't file schedules in my chapter 7 is it possible that the case could be dismissed?
Not only is it possible, it is almost certain that the case would be dismissed. You might be given an extension by the court, but ultimately they must be filed.
What happens when you default on your chapter 13 bankruptcy and your mortgage bank is going to foreclose?
You can either try to modify your 13 plan payments, convert to a chapter 7, or dismiss your BK.
If you file bankruptcy?
What happens if you file bankruptcy differs depending on what chapter of bankruptcy you or your business decides to file under. The most common form of bankruptcy for the individual is Chapter 7. Under Chapter 7 bankruptcy, the banks may liquidate property and assets-except things that are explicitly protected. After this, most debts are forgiven-but not all, as certain debts do not qualify. Your credit score will then be severely damaged by the filing, but you will be free to slowly bring it back up as you will not be suffocated by debt. The article below goes into further detail on the process of bankruptcy.
