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What else can I help you with?
If you filed bankruptcy and it was final and a reaffirmation agreement was signed but discharged by the courts you have always been current on your car payment can you keep the car and continue paying?
Long as you put it in your reaffirmation so that it will not be part of your bankruptcy you will be able to keep it. Same thing as with a house. Just as long as it was part of the agreement that it was not included in your bankruptcy then you are o.k.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
How does surrendering your house in chapter 7 affect your credit report?
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
I am filing for chapter 7 bankruptcy and wondering if I also surrender the house in the proceeding will it affect my credit score worse than just including the credit cards. We may be able to sell.?
The best answer can only come from a licensed attorney specializing in bankruptcy law. However, as a credit and collections expert, regardless of how you default on the mortgage it is still going to hit your credit with the same amount of damage. The best option is to try to use the bankruptcy process to get a loan modification or attempt to get the lenders acceptance to forgo any foreclosure actions to attempt to sell or short-sell the property. Selling the house will not fix any late payment history for the loan, but will take the sting out of just walking away from the house.
Can you buy a house if you have filed bankruptcy?
No.
If your friend is on a house loan with you and you pay the payment every month on time but he is filing bankruptcy could they still take the house from you?
The deed to the property is what determines ownership and what action can be taken against the property during bankruptcy or the execution of judgment.
What happens if you default on IRS payment plan?
If you default on an IRS payment plan, you will be subject to liens (the selling of your mortgaged or collateral property, such as your house or car) or levys (seizure of your property or financial assets). For this reason, it is important to notify the IRS as soon as you find out you will not be able to make a payment, so that they can explain your options to you.
How can you save your house if it was used as collatera o a business that is in default and you are filling bankruptcy?
Talk to a local experienced bankruptcy lawyer. If there is equity in the house after deducting the payoff on the first mortgage and any priority liens, you should not have a problem. If there is equity, it gets more complicated, but you may be able to keep the house with a Chapter 13.
Can you file for bankruptcy on a foreclosed house?
You should, of course, consult with a local attorney. I can tell you from working in a trustees office that forecloses on property, you can file bankruptcy and the sale will be put on hold until resolution. Just because you file bankruptcy, however, doesn't mean your house is safe. The creditor can file a motion for relief telling how far behind you are and such. Most likely, there will be some kind of work out in the form of a consent order which outlines an agreement in which you are to become current and states what is to happen if you default on the agreement. Some have notice of default clauses that mean if you fall behind, the creditor has to file such with the court and give you a specified time to catch up. Some state that if you default on the agreement, there is automatic default and the creditor can proceed with foreclosure. In short, filing bankruptcy can delay the foreclosure, but ultimately, it's up to you to come current after filing or something will be done.
Can I keep my house and car out of a bankruptcy?
You are normally allowed to keep the house you are living in and one car in a bankruptcy.
If you filed bankruptcy and it was final and a reaffirmation agreement was signed but discharged by the courts you have always been current on your car payment can you keep the car and continue paying?
Long as you put it in your reaffirmation so that it will not be part of your bankruptcy you will be able to keep it. Same thing as with a house. Just as long as it was part of the agreement that it was not included in your bankruptcy then you are o.k.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
Can you fiance a house after bankruptcy?
Yes, 3 years after discharge of the Bankruptcy.
How does surrendering your house in chapter 7 affect your credit report?
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
I am filing for chapter 7 bankruptcy and wondering if I also surrender the house in the proceeding will it affect my credit score worse than just including the credit cards. We may be able to sell.?
The best answer can only come from a licensed attorney specializing in bankruptcy law. However, as a credit and collections expert, regardless of how you default on the mortgage it is still going to hit your credit with the same amount of damage. The best option is to try to use the bankruptcy process to get a loan modification or attempt to get the lenders acceptance to forgo any foreclosure actions to attempt to sell or short-sell the property. Selling the house will not fix any late payment history for the loan, but will take the sting out of just walking away from the house.
Can you buy a house if you have filed bankruptcy?
No.
What happens if you cannot pay on your credit cards anymore?
File Bankruptcy or take a lien out on your house. You might even be able to call them before you do those things and see if they will work with you on a minimum payment.
