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If you filed Ch 7 last year and have a car you didn't re-affirm and just kept making payments can you just give it up and not owe any money on it?
Better ask your B/K attorney on that. OR the LENDER. IN FILING CHAPTER 7, YOU CAN KEEP THE VEHICLE AS LONG AS YOU CAN MAKE THE PAYMENTS. HOWEVER, IF YOU DID NOT RE-AFFIRM THAT LOAN AGREEMENT, YOU MAY SURRENDER THE VEHICLE TO THE LENDER. SINCE IT WAS INCLUDED IN THE BANKRUPCTY, YOU WILL NOT BE RESPONSIBLE FOR ANY FURTHER MONEY OWED TO THE LENDER. IF THAT LOAN WAS RE-AFFIRMED, YOU CAN STILL SURRENDER THE VEHICLE, BUT WILL HAVE TO PAY THE BALANCE THAT REMAINS ON THE LOAN PLUS ANY FEES, TOW, ETC.
What else can I help you with?
What does it mean to reaffirm a mortgage and how does it impact the borrower's financial obligations?
Reaffirming a mortgage means agreeing to continue making payments on the loan after a bankruptcy. By reaffirming, the borrower remains responsible for the debt, keeping the house but also the financial obligation to repay the loan. This can impact the borrower's financial obligations by ensuring they must continue making payments on the mortgage, even if they have filed for bankruptcy.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
I brought a car for my girlfriend daughterI filed for bankruptcy which I was discharge.I put the car down on the form to keep for her to keep making payments but she stop and the car is in her name.?
Open Bankruptcy means that your petition has been filed, but you have not yet received your discharge papers. The discharge papers officially relieve you of your debt.
Will it help your credit if you dismiss your Chapter 13 bankruptcy and start making payments to your creditors?
No, it will probably hurt your credit. The Chapter 13 is on your credit report for 7 years from the date the Order for Relief is entered, which is the day the case is filed. So, even if you dismiss it the credit hit from the 13 has already appeared on your credit (a 75 to 150 point drop). And, if you dismiss it, then all the creditors included in it suddenly come back to life and would start billing you, making your debt to income ratio worse. And, if you fail to pay them, then the late payments would make your credit even lower. Once a 13 is filed, it's best - creditwise - to finish it.
If you filed bankrupty in 2004 how long will it be on my credit?
A bankruptcy filing can remain on your credit report for up to 10 years from the date of filing. However, its impact on your credit score may lessen over time as you rebuild your credit history. It's important to continue practicing good credit habits, such as making on-time payments and keeping credit card balances low, to improve your credit score despite the bankruptcy notation.
You filed bankruptcy but opted to pay off your car loan you have documented proof of this the court went and filed it as a bankruptcy and you need the title of the car?
If all you did was sign the "Statement of Intention" saying you intended to reaffirm the debt, and did not in fact reaffirm the debt with a reaffirmation filed with the court, and did not continue making car payments after the date of filing, the secured debt survived the filing and you are not entitled to the title until you pay the loan off. The lender can repossess the vehicle and sell it. It's not a question of what the court did, but what you did or did not do with respect to the loan.
What does it mean to reaffirm a mortgage and how does it impact the borrower's financial obligations?
Reaffirming a mortgage means agreeing to continue making payments on the loan after a bankruptcy. By reaffirming, the borrower remains responsible for the debt, keeping the house but also the financial obligation to repay the loan. This can impact the borrower's financial obligations by ensuring they must continue making payments on the mortgage, even if they have filed for bankruptcy.
Can an Home owners association put a lien on your property even while you are making payments?
You are not clear about who you're making payments to: the mortgage company for your mortgage, or to the association to pay assessments that are in arrears. If you mean payments to make up arrears, and the association filed a lien on your title, review the agreement that you made with them about making payments. It's possible that filing a lien is part of your agreement in some way. Or, that the association has filed a lien against you in error. If you mean payments to pay your mortgage, and you are not paying your assessments, your association filed a lien to collect monies that you owe in past-due assessments. (You have to pay both: mortgage and assessments.) If your assessments are up to date, check with the board to better understand why a lien has been filed by the association on your title.
We filed chapter 7 bankruptcy. When can the bank take the house?
When you either voluntarily give up the house or you stop making payments (foreclosure).
How will you know if someone that owes you money and is making scheduled payments files bankruptcy?
Go to where the bankruptcy is filed and have the file pulled and there will be an accounting of all the debts and payments being currently made. It is public information.
When will avandia payments start?
Those who filed claims and had them approved will receive payments by 12/31/12
How can you get years of rental payments to be filed in your credit report?
you can't
Can you get insurance if you don't live in the house?
My sister filed and was discharged in a bankruptcy, she did not reaffirm the house. She has moved out, she has homeowners on the property but is it still good if she does not live in the home.
In California would the debtor who just filed bankruptcy be arrested for concealing the car on which he stopped making payments?
I don't know about California, but if you filed bankruptcy, you do have to answer to a Judge as to your actions, the non-payment, and/or concealment. The loan was secured by the car so if the Judge sees that the car is worth what is owed--you either reafirm and make payments or you give the car back.
Is there anyway you can find a lender willing to make a loan to help keep your home after you have filed for ch 13 but have not yet been to court?
It's not impossible, but it is highly unlikely. Lenders will probably not view you as a "good risk." The ususual procedure is to reaffirm the loan and make arrrangements for catching up on missed payments with the original lender.
In Texas how do you show home ownership while making mortgage payments and executing a will?
Home ownership is shown by Deed, which you should have received when you obtained the property and which should be filed with the County Clerk.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
