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If it was a part of the bankruptcy process, no, you aren't responsible. But it has to be specifically spelled out in the petition.

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โˆ™ 2006-04-10 17:10:08
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Q: You just filed chapter 7 bankruptcy you told them you did not want to keep your car so after you give it back will you be responsible for the remaining balance if it doesnt sell for how much you owe o?
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Related questions

In chapter 7 bankruptcy after surrendering your car are you still responsible for the remaining balance after the bank sells the car?

No. The balance is an unsecured debt and is discharged. Sometimes people do not do the paperwork correctly, which can cause problems.


Can you include the remaining balance of a repossession on a Chapter 7 bankruptcy?

Most folks do so. Ask your B/K attorney for state/case specific advice. Yes


If a car is repossessed and sold at auction for less than the amount owed to the lender will filing bankruptcy discharge the remaining balance if it has been reduced to judgment?

It depends on the chapter. In either case, your remaining debt is now unsecured and a bankruptcy filing places the judgment on hold. If it is Chapter 13, file a claim and you may receive a percentage of the bankruptcy estate, but not usually until near the end of the bankruptcy term (3-5 years). If it's a Chapter 7, again, it's an unsecured debt and highly unlikely that the debtor will sign a reaffirmation to pay you back. If the bankruptcy gets dismissed (thrown out), your judgment is back in force, provided it has not expired.


Can an individual dismissed from Chapter 13 bankruptcy refile for bankruptcy?

You can file a Chapter 7 bankruptcy.


Can you get finance loan on an inherited home with o balance while in chapter 13 bankruptcy?

Yes, if the money is going to pay the balance of the plan, or pay 100% of all claims in the plan. Consult your bankruptcy attorney.


What is the definition of Chapter 11 bankruptcy?

Chapter 11 bankruptcy is actually a chapter in the United States Bankruptcy Code, it permits reorganization under the Bankruptcy laws of the United States.


If an LLC declares bankruptcy how are owed employee wages handled?

If an LLC declares Chapter 11 bankruptcy the employees wages will continue to be paid as normal. However, under a Chapter 7 bankruptcy, the employees are listed as creditors, and wages are paid out with other creditors from any remaining assets, if any remain.


What is a chapter 7 bankruptcy?

A Chapter 7 bankruptcy is a "straight bankruptcy" where the assets are liquidated. This differs from Chapter 11 and Chapter 13 bankruptcies, where the company is reorganized. For more information see the related link.


If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?

Yes.


Your husband is filing chapter 7 bankruptcy and you are not but you are a co-borrower on his loans will you still be responsible?

In most states, YES


How long does it take after a bankruptcy is discharged to show on your credit report?

The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.


Where can one find Chapter 7 bankruptcy information?

Chapter 7 bankruptcy information can be found at US Courts, Corporate Bankruptcy, Lawcore, Personal Bankruptcy, Legal Helpers, NOLO, and Bankruptcy Help.


If you default on a chapter 13 bankruptcy can you file for a chapter 7?

An unfortunate aspect of Chapter 13 bankruptcy plans is that the budget is very strict and hard to keep. An individual having problems with the chapter 13 bankruptcy can convert into a chapter 7 bankruptcy or re-file altogether. Make sure to look into the changes and different effects that a chapter 7 (as compared to Chapter 13) will have on you.


Can you protect a structured settlement in a chapter 7 bankruptcy?

Yes you can protect it under chapter 7 bankruptcy


Once a car is repoed Do you have the right to file bankruptcy chapter 13?

Yes, If you are trying to get the vehicle back you can file a Chapter 13. but you have a very short window typically 10 Days to get filed to have much success of getting the vehicle back. Or you may need to file if your window has passed to protect yourself from future liability. The lender will sell the vehicle and if there is a deficient balance will pursuse you for collection of the remaining balance.


Can you file a chapter thirteen bankruptcy four and a half years after a chapter seven?

Yes, there are no time limits for filing a Chapter 13 bankruptcy.


What is the different between a chapter 7 and chapter 13 bankruptcy?

In Chapter 7 bankruptcy, you ask the bankruptcy court to discharge most of the debts you owe. In exchange for this discharge, the bankruptcy trustee can take any property you own that is not exempt from collection.


How to file a chapter 13 bankruptcy?

contact a bankruptcy lawyer


What is Chapter 4 Bankruptcy?

What qualify u for bankruptcy


Can a lawyer provide you with bankruptcy information?

A lawyer is actually one of the best resources for information about bankruptcy. There are even bankruptcy lawyers who specialize in Chapter 7 and Chapter 13 bankruptcy law.


Where can I go online to find chapter 7 bankruptcy forms?

Chapter 7 Bankruptcy forms can be found on various reliable websites. A few of the sites that has Chapter 7 Bankruptcy forms are: www.uslegalforms.com/bankruptcy/, http://www.freebusinessforms.com/free-bankruptcy-forms.html and http://legal-forms-kit.com/.


What is filing chapter 7 bankruptcy?

Chapter 7 is called Liquidation Under the Bankruptcy Code and is the chapter of the Bankruptcy Code providing for "liquidation,", the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors.


What is chapter13 bankruptcy?

Chapter 13 bankruptcy is one of two forms of bankruptcy available to private citizens. The other form being chapter 7-the most common form of bankruptcy. Chapter 13 is a restructuring form of bankruptcy. Unlike Chapter 7, it allows the filer to pay off his or her debts over time-thus lessening to severe crush to credit of Chapter 7.


Does income count AFTER you file chapter 7 bankruptcy?

A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.


Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?

If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.