0
Filing for a consumer proposal can significantly impact a co-signer because they remain responsible for the debt if the primary borrower defaults. While the consumer proposal protects the borrower from creditors, it does not absolve the co-signer of their obligation to repay the debt. This means that the co-signer might still face collection actions or a negative impact on their credit score. It’s crucial for co-signers to understand their potential liabilities and communicate with the primary borrower about the situation.
What else can I help you with?
What resources are out there to help get people out of debt?
There are several resources to help get people out of debt. Some of these include: talking to a credit counsellor, creating a consumer proposal with one's creditor, and filing for a personal bankruptcy.
What happens when a loan is cosigned and the borrowers file bankruptcy but the cosigner is deceased?
The loan would be part of the bankruptcy filing. I can't see how the death of the cosigner is significant. (In financial terms, that is.)
Is there a standard credit score after filing bankruptcy and if so then what is it?
No, a credit score is compiled from a consumer's complete credit history.
If you are about to get married and you are filing Chapter 7 bankruptcy will this bankruptcy affect your spouse in any way after the marriage?
It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.
Will your credit rating be affected by your partner filing bankruptcy?
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
How do you the cosigner sue primary borrower?
The cosigner contacts an attorney who will process the paper work for him. Or, the cosigner can file the suit (foolishly) pro se (on your own). Or, the cosigner can file the suit in small claims court. What is important is that the cosigner can show significant and real damages before filing, or hope he is not filing in a state that will bring criminal charges for filing a frivolous law suit.
What resources are out there to help get people out of debt?
There are several resources to help get people out of debt. Some of these include: talking to a credit counsellor, creating a consumer proposal with one's creditor, and filing for a personal bankruptcy.
What happens when a loan is cosigned and the borrowers file bankruptcy but the cosigner is deceased?
The loan would be part of the bankruptcy filing. I can't see how the death of the cosigner is significant. (In financial terms, that is.)
Does having a car in repo effect filing for bankruptcy?
No - having had a car that was re-possessed will not affect the filing of a Bankruptcy.
How does filing an accident report affect your driving record and insurance if you are not filing an insurance claim?
It goes on your record and your insurance rates get adjusted.
Does filing jointly affect child support?
Filing a joint tax return should not increase or decrease a child support obligation.
Is there a standard credit score after filing bankruptcy and if so then what is it?
No, a credit score is compiled from a consumer's complete credit history.
How to file a complaint in consumer court in India?
If you have a complaint against a company or an individual for goods or services purchased, you can file a complaint in a consumer court in India. Hiring a consumer court lawyer to represent you in court can help ensure that your case is presented effectively. Here is a step-by-step guide to filing a complaint in a consumer court in India: • Determine the jurisdiction: You need to determine the appropriate consumer court based on the value of the dispute and your location. There are district, state, and national levels of consumer courts in India. • Draft the complaint: The complaint should include the details of the dispute, such as the date of purchase, the name and address of the defendant, and the grounds for the complaint. • Hire a consumer court lawyer: A consumer court lawyer can help you draft the complaint and represent you in court. They can also advise you on the merits of your case and the chances of success. File the complaint: You can file the complaint either in person or by post. Most consumer courts have a specific format for filing complaints, and you may need to pay a fee for filing the complaint. In conclusion, filing a complaint in a consumer court in India can be a complex process, and it is recommended to hire a consumer court lawyer to represent you in court. A consumer court lawyer can help you understand the legal process and ensure that your rights are protected.
If you are about to get married and you are filing Chapter 7 bankruptcy will this bankruptcy affect your spouse in any way after the marriage?
It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.
When filing married will it affect your return?
You can check with www.IRS.gov, but it will affect your return. You get better tax bracket treatment and can have higher standard deductions, contributions to various retirement accounts, etc. Filing married has many, many tax advantages! == ==
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.
Does filing bankcruptcy affect renewing a green card?
Unless there is a issue of fraud, no, a BK should not affect green card renewal.
