If your house is being foreclosed on, you need to file a chapter 13, with a plan for paying the secured debt arrears, including the mortgage(s) and have the income left over every month to pay the plan (and the trustee's percentage).
You declare when your debts become too overwhelming to ever pay off. But you must qualify first. The qualifications vary according to the chapter of bankruptcy you are filing under but major aspects are the monetary amount of your debt and your annual income.
The first step in understanding financial distress is realizing that you are in financial trouble and need help. Contact a bankruptcy attorney in your area for a free initial consultation. First, bankruptcy can stop creditor harassment. Many creditors will call you all day, every day, any time of day. Bankruptcy provides a fresh financial start by making it illegal for creditors to contact you. This can be your first sigh of relief. Even once you have retained a bankruptcy attorney, you can tell creditors who contact you that you are in the process of filing bankruptcy, and they should direct the calls to your attorney's office.
can file bankrupcy if i lose my car
Yes you can, However if you do file bankrupcy do not do it without a lawyer. In most cases if you do not file bankrupcy and the finance company( if you were financed) has already filled a garnishearment they will take you to court and you will have to make arrangements for they will retrive a small amount from your paycheck each time you get paid until they have retrived all of their money that you owe however if you loose your job or file bankrupcy they can not take any money from you.
Bankrupcy laws have changed, creditors now have more ways to get your money even if you file bankrupcy. People must become more accountable for the debts now, bankrupcy is no longer a way out of debt. You should go to a credit councelor and start working things out.
If your bankrupcy isn't complete, it would likely be a violation of the terms of your bankrupcy with the court. The court could then choose to deny your claim of bankrupcy. If your bankrupcy filing is totally complete, depending on the type of loan it is not unusual (except now with todays credit crisis) to be approved for a loan simply because the company approving the loan knows that you can not file for bankrupcy again for a relatively long period of time.
Yes. in fact it means the IRS can't negotiate a lower amount or payment plan with you
sure you can, but you will loose new car when u file bankruptcy anyway.also need more than just a car payment to file bankruptcy. laws have changed to prevent people filing bankrupcy just to dodge paying there bills
If you are in debt with several creditors and don't want to file a bankruptcy you can try to get a consolidated credit repair company to help you to manage the debt.
because the town meeting was on the verge of bankrupcy Adams was compelled to file suit agaist delinquent taxpayers but many taxes went uncollected
Yes. It is legal to refinance a home in VA. The purpose of refinancing is to repay your old loan with a new one. It might be a great idea for someone looking to file bankrupcy.
Yes it's true. However with the new bankruptcy reform it will be more difficult for consumer's to file a chapter 7. If the debtor has even a small amount of nonexempt assets, they will be required to file a chapter 13 consolidation bankrupcy rather than a chapter 7.
bankrupcy
if you claim bankrupcy can it effect your pension