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Would it be better to let credit cards go into judgment or file bankruptcy?
Craigash7
Neither. Both of your stated options are bad.
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∙ 17y ago
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Can a judgment be collected from a dissolved corporation?
The judgment would have to be presented to the bankruptcy court. Wow! Who mentioned bankruptcy? This is a money judgment against a admin dissolved corp. If bankruptcy had been filed the judgment, if listed, would be discharged and worthless.
Can you cosign for a car while in chapter 13 bankruptcy?
No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.
Can your motor vehicle license be suspended if you have a judgment against you in Pennsylvania?
Yes, you can settle, make payments, file bankruptcy or move to a state that the DMV does not recognize the judgment. Many states are creating legislation to block their states from a national DMV. Bankruptcy is not good for the judgment holder since they would see nothing as far as money, so settling is in your favor. Also bankruptcy will muck up your credit for years.
If I file for bankruptcy can I still refinance my mortgage?
You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.
You were going to file bankruptcy but did not. However it is on your credit report anyhow What can you do We never met a judge never filed anything?
Why "however?" Obviously, you can do one of three things: 1. pay the judgment, interest, etc.; 2. negotiate a settlement with the judgment creditor;, and 3. file bankruptcy. The judgment will stay on your credit report for at least 10 years (20 in some states, and renewable in others for an additional 10 years). The bankruptcy would have been on your report for 10 years from the date of filing. Go ahead, believe the corporate "financial analysts" on CNN and the networks who tell you NOT to file bankruptcy. It certainly helps them keep their jobs.
If an account is closed by a credit grantor why would the card holder continue to make payments after bankruptcy findings are closed?
The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.
Would filing chapter 7 bankruptcy clear foreclosure from your credit report?
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
What is an outstanding judgment on a credit report?
An outstanding judgment is a court order that gives a creditor the legal right to collect from a debtor. As court judgments are a matter of public record, a creditor can report the judgment on the debtor's credit reports. An example of a judgment placed on a credit report would be a judgment for eviction. This judgment will remain on the credit report for seven years from the filing date.
Would our judgment awarded by courts prior to defendants chapter 13 bankruptcy take precedent to the assets before the assets are taken in the bankruptcy?
No.
Can you declare bankruptcy on a judgment for a car accident and if so would you be able to get a license again if it was revoked as a result of the judgment?
No, judgments awarded due to personal injury or property damage are not dischargeable under bankruptcy law.
How do you remove a bankruptcy from your credit?
You can dispute a bankruptcy to the credit bureaus. This gives them 30 days to verify it with the courthouse that filed it or it must removed from your credit report. This would only be the bankruptcy, not the items included in bankruptcy. You would have to dispute them separately. Answer No, a bankruptcy cannot be removed if you actually had one and it was discharged. Rather, it will "time out" after a set number of years. You can recover some credibility after a couple of years of paying accounts as agreed.
If you had a bankruptcy six years ago but have rebuilt your credit and now your scores are over 700 why would you still be turned down by the same bank for credit?
While 700 is a decent credit score, extending credit is still a risk and a discretionary judgment call. The BK will be on your credit for several more years and you are almost eligible to file for Chapter 7 again if you needed to. The creditor might not want to take the risk, especially if a debt to this bank was included in your old bankruptcy.
