If a judgment is not listed as "discharged in bankruptcy" on one's credit report after bankruptcy, one can make a written request to the three national credit reporting agencies to reinvestigate your report and list it as discharged (they normally need proof of the bankruptcy filing, such as a copy of the Notice of Bankruptcy or at least the Discharge). (See Fair Credit Reporting Act Section 611(a)(1)(A)). One can contact them at: Trans Union Corporation ATTN: Public Records Department 555 West Adams Street Chicago, IL 60661 Experian Profile Management P.O. Box 9558 Allen, TX 75013 Equifax P.O. Box 144717 Orlando, FL 32814 Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Visit RossLawOffice.com for more information about bankruptcy.
Yes, your payment history will still be a part of your credit report as well as the Chapter 7.
Yes and no. If an account was already charged-off before the bankruptcy, it can be reported as a charge-off. By law, the creditors must charge-off accounts included in bankruptcy, BUT they can not REPORT that charge-off if it happens AFTER the bankuptcy. Negative reporting on discharged debts is a violation of the permanent injunction of the discharge.
In Chapter 7 bankruptcy, assets of a business are sold to help pay back their debts. In Chapter 11, businesses can keep their assets and try to negotiate new terms with their creditors.
State Income Tax Claims, Federal Tax Claims, and Real Estate Taxes must be included in a bankruptcy filing. Income tax claims that are less than three years old will usually be consolidated with other debts and paid over three to five years in a Chapter 13. Depending upon income and assets, income tax claims for returns that were filed more than three years before the bankruptcy can sometimes be reduced substantially in a Chapter 13 and eliminated completely in a Chapter 7.The discharge of the debt in a bankruptcy, can actually cause taxable income for the year it is discharged if not handled proerly. You will get a 1099-C for most matters concering it.
There is no such thing. Business entities cannot file for chapter 13, only persons. Chapter 11 is for reorganization of business entities, or for persons who owe more than $360,475 in unsecured debts and more than $1,081,400 in secured debts.
You need to get the release from the courts and send it to the credit reporting agency to ask for it to be removed.
The judgment and the lien may reflect two different debts. Normally you cannot include a judgment in a bankrupcy or amend the amount to be paid since it is a court ordered payment to be made. You need to pay the court and get a paid receipt for the judgment. The payment of the lien would be reflected in a release of the lien for that property.
It depends on the specific circumstances and laws governing bankruptcy in your jurisdiction. Generally, once a judgment is discharged in a Chapter 7 bankruptcy, it cannot be reinstated. However, if there were any exceptions to discharge or if the judgment was based on fraud, it could potentially be reinstated. It is best to consult with a bankruptcy attorney for guidance specific to your situation.
Judgments are listed by creditor in Schedule D, E or F, depending on the nature of the debt and judgment, and in the Statement of Financial Affairs. question 4a (if within the past year).
yes
In Chapter 1, the hyperbole is an exaggerated statement that is not meant to be taken literally.
The Bible Book of Revelation, chapter 20.
Your mortgage should have been included in your chapter 7 discharge. If it was- then you are no longer liable for the mortgage, but the lender can still foreclose on the property. If the mortgage was not included- then why wasnt it included.
Yes.
If a judgment goes in the bankruptcy, it can be removed. The person who the judgment was for, has the right to request that it still be paid. In most Chapter 7 situations, the judge will decide in favor of the debtor.
That's not blanket protection, you are only protected from the included creditors that are dischargeable and discharged. They must cease all action when you file, but after case is over those not discharged or included can get judgements. If it is for a discharged debt it can be vacated. A lien is coming your way, so get rid of it.
Dismissal yes, Discharge, probably not.