Your car will likely be repossessed if you did not sign a reaffirmation agreement. If it was included in the bankruptcy, but just not reaffirmed, however, a judgment can not be placed against you for past due amounts or any balance owed. They can, though, slap you with a repossession on your credit record.
What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand on. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.
what can happen if you are filing bankrupt and you miss your court date
That depends on the state you live in and the loan company. Talk to your lawyer about this. The bank can always agree to rewrite the loan, which is essentially what has to happen for it to be given a new interest rate. Why they would provide a bankrupt a loan, especially one at a lower rate, I don't know. Maybe they don't want the security back, and feel they would have a greater loss by doing so and in order to prevent a loss by your BK they would rather get less on the existing one. So while you may be able to reaffirm (or get someone to give or maintain your creditability)...you cannot just decide to change the terms to what you want and reaffirm.
The property may go into foreclosure, but that has nothing to do with the tenant. Until there is a foreclosue sale, the tenant is obligated to pay rent to the owner.
You and the person wanting to take over the payments, go in a sit down with the lender who holds the note, and talk about it. The lender must agree to this for it to happen.
One can become bankrupt
Governments can't go bankrupt. They just have to work their way out of their dept.
You will get bankrupt and get into family problem or your wife will get divorce from you
He went bankrupt, had to sell Death Row and now he's currently broke.
If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
What can happen if you miss your time share's monthly payments depends on the contract you have with the company you purchased the time share from. In most cases you can expect that eventually the time share will be repossessed by the lender and sold to someone else. You will still owe the money that remains on your contract, even if you don't have the time share any longer.
You signed to guarantee the loan. That means that you guaranteed to pay the loan if something went wrong. Something went wrong so you get to pay the loan.
Medicaid is a program for persons of limited income that is financed approximately 90% by the Federal government and 10% by the state. It cannot go "bankrupt." In theory, the federal government may decide to discontinue the program, but that's not going to happen.You might be thinking about Medicare, which is an insurance program for persons over 65 and theoretically could go bankrupt; however, the federal government is not going to let that happen, either.
As a disclaimer: the paragraph below does not answer the question (what is the question, by the way?) and is conspiratorial. --- The price of oil has been driven down by the global elite( those who control everything) in order to bankrupt the suadis. This will happen because the suadis needed 80 dollars a barrel of oil to fill their debt obligations. When the saudis go bankrupt interest payments on the US debt will stop, and the dollar will cease to be accepted as a currency, hyperinflation will result. youtube Lindsey Williams
Yes they became a Royal Colony in 1624 when the London Company went bankrupt.
If the signor fails to make payments, you are responsible. By co-signing, you say that if the signor can not pay, you will would gladly make the payments.
It depends on how overdue you are on your payments and how much money you owe.
you will suffocate and eventually die
The executor must make the payments from any assets of the deceased Estate until the Estate is settled.
You will be responsible for the loan payments
Nothing will happen.
Usually 3 payments does it - but that is up to the lender. - Don't just let it happen ! - Go to them, try to work out a solution. It often works,
Prolly is BUT it depends on the lenders attitude as to what will happen. Best thing to do is contact the lender about getting the loan in your name. lot of variables here.