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If you are sued and a creditor gets a judgment against you, you may be able to discharge your personal liability on that judgment in a Chapter 7 bankruptcy. This will depend on whether the underlying debt is dischargeable (meaning you can wipe it out in bankruptcy) or nondischargeable.
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Are you a bankruptcy?
Bankruptcy is when a person or a firm thinks that they are in financial crisis, they go out for filing bankruptcy in related court.
What is a notice of bankruptcy and stay?
When a bankruptcy is filed, an "automatic stay" takes effect, essentially a prohibition against any collection action by a creditor without the court's permission. This occurs even if the creditor has no immediate notice of the filing. Any collection action taken after the filing must be undone by the creditor.If there is a proceeding in a civil court to collect the debt, the appropriate action for the debtor is to notify the court of the filing, giving the name and address of the bankruptcy court, the date of filing and the docket number of the case in the bankruptcy court. This is often called a "suggestion of bankruptcy" or notice of bankruptcy."
How do you find if you are listed as a creditor in chapter 7 filling?
You will receive, directly from the bankruptcy court, a notice of filing and information on filing your claim with the court. If you believe a person has filed bankruptcy, and you know the person' s address, you can check with the clerk of the bankruptcy court. The bankruptcy court one files in is determined by the county within which the debtor resides.
How does bankruptcy affect filing taxes if you are in bankruptcy?
Doesn't change any of your legal obligations (other than the debts at the court), like filing taxes, or what is due.
What is Prepetition?
Any time before the filing of the petition (of bankruptcy I presume) with the court.
If a credit card company has already set a court date against you can you still file bankruptcy?
Absolutely, you can send the notice of bankruptcy filing to the court and you will not have to attend.
Does bankruptcy protect you from a civil bench warrant?
No. It only protects you (financially speaking) from your creditors - NOT from the court. ALSO: Bankruptcy does not wipe out, or excuse, court ordered payments that were in effect prior to the bankruptcy filing.
Do you know if you go to bankruptcy court do you get discharged when you go there?
A person or persons would need to file for bankruptcy before having any contact with the court and/or bankruptcy trustee. A bankruptcy discharge is what is granted if the filing is deemed valid.
Can you cosign for a car if you are filing for bankruptcy in the future?
If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.
Is Indalex filing bankruptcy?
indalex and it's 4 holding companies have filed for chapter 11 bankruptcy protection in us court in Delaware
How does a creditor answer Chapter 7 bankruptcy?
By filing a proof of Claim, or by addressing questions/arguments to the court
What if your income increases after filing a chapter 13 bankruptcy?
Chapter 13 is more of a repayment plan than a debt wipeout. Because of that, if there is a change in your financial circumstances after filing for bankruptcy then the court needs to be aware of it.
