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What if you have only 4 months to pay off your bankruptcy and you default how much of your debt are you required to pay?
Wiki User
∙ 10y ago
You are required to pay what the court decided ! If you're having problems repaying the debt, there's nothing stopping you going back to court and re-negotiating the repayment period !
Wiki User
∙ 10y ago
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Can a cosigner put the debt that they cosigned for under bankruptcy to release them from the debt if the debt is not in default?
Yes.
How old does debt have to be to bankrupt it?
you cant put a debt in your bankruptcy that is less than 6 months old.
Are you liable for debt cancelled in bankruptcy?
No you are not, If you deglared bankruptcy, that cancels your debt
If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?
Yes. If you default on your car loan you will remain liable for the debt.
Does the seven years start only when you have paid the debt or when they have sold the car or when?
The seven year stipulation is usually calculated six months from the time of default on the debt.
If you default on a student loan does that stay on your record after you file for a Bankruptcy?
Any debt listed (or should have been listed) in your bankruptcy can be reported as discharged for the ten years the bankruptcy can be reported. Since a student loan cannot be discharged without proving a hardship (the difficulty of which varies from state to state and even court to court), the default can probably be reported as long as it remains unpaid.
Where can one get help for credit card debt bankruptcy?
There are many places where one can get help for credit and debt bankruptcy. For example, Debt Advisors Scotland, Consumer Information and Total Bankruptcy.
What does the term notice of default mean?
A notice of default is used to notify a borrower that they have defaulted on their debt. To default on a debt means to fail to repay it. So a notice of default reminds the borrower that he has not made a payment on his debt on time.
Will you get a 1099 for debt discharged in Chap 7 bankruptcy?
No. Unlike some non-bankruptcy situations, debt wiped out in bankruptcy (any chapter) is NOT income to the debtor.
Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?
If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.
Can you file bankruptcy on a truck repo past due loan?
No, if you mean, can you single out this debt to "file bankruptcy on." You file bankruptcy on ALL your creditors. You don't get to pick and choose. But you can certainly include such a debt in bankruptcy.
Can a judgment be put on your credit if the debt was part of the bankruptcy?
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
