0
When filing for chapter 7 bankruptcy for filing form Schedule F do you need to put in the exact dollar amounts owed?
Wiki User
∙ 15y ago
You should enter the amount due on the date of filing. Most bankruptcy lawyers use the most recent statement from the creditor or the most recent amount on the credit reports obtained prior to filing. You may round off the numbers to the nearest dollar, but you should have more than just a "ball-park figure."
If you have not had a recent statement, get a free copy of all three credit reporting bureaus' reports at www.annualcreditreports.com.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
If your husband's boat was gifted to spouse for one dollar 3 years before he filed bankruptcy can the courts take it?
yes, if filing chapter 7 no, if filing chapter 13
If the amount of claim on Schedule F of bankruptcy shows no dollar amount does this mean that the debt is not included in the bankruptcy?
If its a Chapter 7 case, the debt most likely will be discharged. If its a Chapter 13, the amount is used for plan calculation. In either case, the debt is "included". If the creditor is not paid under the Ch 13 plan, there may be a problem there. (Depending on if the creditor cares) Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
What can you lose in bankruptcy?
This is largely dependent on the chapter of bankruptcy that you're filing under. Is it for an individual? Is it for a business or a corporation. I will take the most common type of bankruptcy-Chapter 7-for an example. Under Chapter 7, the bank is technically allowed to take personal assets and property and liquidate it/them in an attempt to pay back debtors. But there are a number of exemptions and for many people, they do not lost personal items after filing for Chapter 7. Common exemptions when filing for bankruptcy include tools of the trade-such as a car that is used to commute to and from work-and clothing under a certain dollar amount. The article below lists many of the possible exemptions for different chapters.
What can you keep after bankruptcy?
The idea that someone who files for bankruptcy will somehow lose everything they own is completely overblown. In fact, many people who file for Chapter 7 do have to surrender any of their property. There are also exemptions such as professional tools, clothes, etc. which are under a maximum dollar value.
Can you file for bankruptcy on a three thousand dollar debt?
no
How much does bankruptcy cost in Texas?
The cost will depend on which type of bankruptcy you are filing. It costs less to file chapter 7, between $950 - $1,400. Expect to pay your attorney more if you are filing chapter 13: around $1,800 to $2,400. Most lawyers will offer a free consultation where they will talk about how much they charge.
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.
What is a weak dollar?
A weak dollar is a U.S. dollar that can exchange for fewer amounts of foreign currency.
How do you enter whole dollar amounts?
470
Can a 300 dollar loan from dollar-wise be filed for bankruptcy?
I just filed chapter 7 six months ago, I was in 5 check exchanges & could not get out. It went fine with no creditor objections & was discharged 3 months later. Also, I did the whole thing myself ( with no lawyer) for just the $20 for the book to research it !
What are goals and requirements translated into dollar amounts?
programming
What does the symbol M mean in dollar amounts?
Thousand
