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Can IRS hold funds for bankruptcy?
can the IRS take your check if you file bankruptcy , chapter 13 or will I have to submit the check to them once received.
How does a client get their money back if the business files for bankruptcy?
It depends on the chapter they filed and the financial state of the company, most likey not, that is why the filed for bankruptcy, they have no funds.
If I have have won a money settlement can a 20 year old chapter 7 bankruptcy make a claim against the funds?
No
If you filed chapter 13 and joint bank acct was garnished will they to unfreeze your funds?
In the state of North Carolina it is illegal for any organization to garnish your wages. I'm not sure the state that you filed your Chapter 13 bankruptcy, but my suggestion is contact your bankruptcy attorney and tell him the situation.
What is a Chapter 13 trustee used for?
Chapter 13 trustee is an entity, generally an individual, with the responsibility of managing a chapter 13 bankruptcy estate. The Chapter 13 receives the debtor's monthly payments and then distributes those funds proportionally to the debtor's creditors.
Why did CIT Group file for Chapter 11 bankruptcy?
Its bankruptcy filing was largely due to the decline in housing and mortgage markets. It did receive $2.3 billion in Troubled Asset Relief Program (TARP) funds but was ultimately not enough for the firm to avoid bankruptcy.
Can you pull out your retirement and file chapter 7 bankruptcy?
Retirement funds are exempt, but if you take them out of a qualified retirement plan and put them into a regular account, they are no longer exempt. Get some good advice from an experienced bankruptcy lawyer before you do anything.
How do you petition for 1031 exchange third party beneficiary funds from chapter 11 bankruptcy judge?
You are a creditor, like all others. The funds can't be disperssed without court approval. You will need to file a proof of claim and work through the process. Your funds are clearly at risk. This may be a particularly complex claim and you should get legal help that is intimately familar with corporate bankruptcy.
What is a 9 letter word that means to receive a act as custodian of chapter funds?
The treasurer is responsible for the chapter's funds.
Can you get the money back that was garnished before you filed chapter 7?
Yes, but it must be listed correctly in your bankruptcy paperwork. It must be listed as both an asset and must be exempted for the trustee to return funds to you.
Will filing chapter 13 bankruptcy affect a recent joint bank account?
If you have filed for bankruptcy as an individual, rather than as a couple, then you are only filing on your personal debts. Following this logic, only those funds that are yours (so your share of the bank account, if that is possible) will be "up for grabs." Your bankruptcy status should not have an effect on your partner.
Can the bank seize assets in the bank during a bankruptcy?
If creditors believe the person is trying to remove funds from accounts to keep them from bankruptcy proceedings; creditors can petition the court to freeze all accounts/assets. A bank cannot arbitraily seize account funds unless the depositer has a loan with the bank which includes a set off provision. Even then the bankruptcy trustee can request the funds be returned and included as assets in the bankruptcy.
