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What happens to your home when you file for Chapter 13 bankruptcy?
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Can you still keep your vacation home if you file bankruptcy if there is no equity?
In a chapter 7, yes, you can keep your vacation if you have no equity in it. This assumes you have not run out and borrowed money against it knowing you were going to file bankruptcy. In a chapter 13, the equity is only relevant to the amount to be paid to the unsecured creditors. You don't "lose" the property.
What is a Chapter 20?
As an unknown individual at the Doney & Associates law firm surmised, "there is no real Chapter 20, but we bankruptcy attorneys amuse ourselves by proving that we can add." A Chapter 20 is when you file a Chapter 13 right after a Chapter 7. One reason some people do this is because you cannot stop a home foreclosure with a Chapter 7, but you cannot file a Chapter 13 if your unsecured debt exceeds a certain dollar amount. So, if someone's home is being foreclosed but their unsecured debt amount exceeds the limit for a Chapter 13, those persons may file a Chapter 7 and wipe out the unsecured debt, then file a Chapter 13 and stop the home foreclosure. Some Courts frown on Chapter 20's since they see it as an unfair manipulation of the bankruptcy code.
Can a person keep and file bankruptcy if the home is under any mortgage?
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
What happens to a home mortgage if the co-signer does not file bankruptcy but has credit problems?
It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.
If your home has equity and you file bankruptcy on the credit cards do they go after your home?
Generally you have to list your home as an asset. But there are different kinds of bankruptcy, and if things work out, your home ownership could be protected. See a bankruptcy lawyer!!
Can you keep your home if you file chapter 13 bankruptcy?
yes
Can you file for chapter 7 bankruptcy if you have equity in my home?
Sure.
If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?
Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.
Can you keep your home in a bankruptcy in NC?
It depends on which "chapter" of bankruptcy you file. I suggest you speak with an attorney to see what you can do.
Which bankruptcy is for a home?
You can file either Chapter 7 or Chapter 13 as a homeowner. If you are trying to save the home from foreclosure, then Chapter 13 would be the proper chapter.
Can you file for bankruptcy without a home?
Absolutely. Happens all the time.
Can you keep your home if you file a chapter 13 bankruptcy?
Yes, as long as you keep making the payments.
Can you keep your home if you file chapter 7 bankruptcy and owe more on your second mortgage than the first?
yes
After Chapter 7 bankruptcy has been Discharge can buy a home?
After Chapter 7 bankruptcy has been Discharge can buy a home
What bankruptcy should you file?
The type of bankruptcy that you file all depends upon your personal case. If you have little in the way of assets and a lot of unsecured debt, then Chapter 7 is likely going to be the Chapter to file. If you are trying to save a home from foreclosure or reorganize other types of debt, then Chapter 13 would be your best choice. Consult with an attorney to make certain you are filing the proper Chapter for your particular case.
Can you keep your free and clear home if you file chapter 7?
Probably not, but it depends on the value of the home and the exemptions available to cover that value.Consult a local bankruptcy lawyer.
If you file bankruptcy in one state and own a home in another state may you keep it?
The answer depends on the type of bankruptcy you file and the value of your home. In Chapter 7 bankruptcy, you may be required to sell the home unless it falls within certain exemption limits. In Chapter 13 bankruptcy, you can typically keep your home and create a repayment plan to catch up on missed mortgage payments. It's best to consult with a bankruptcy attorney to understand your specific situation.
