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If you received a sizeable tax refund but spent it before you filed bankruptcy will that money affect you?
The judge may ask you what it was spent on. Necessities such as food, shelter, utilities etc. are acceptable and a usual answer. You did the right thing. Receive and spend the refund before filing bankruptcy, if possible. Of course, is not always possible due to the stress from pressure by creditors. You should weigh the relief bankruptcy provides against the amount of stress you can live with.
What else can I help you with?
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 does surrendering your house in chapter 7 affect your credit report?
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
How many times has Dodge gone bankrupt?
Chrysler bought the Dodge Bros company in 1928. Chrysler was near bankruptcy in 1979 when it received a government loan. It did file for bankruptcy in 2009 before being purchased by Fiat.
If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?
Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.
What happens to your severance in chapter7bankruptcy?
In Chapter 7 bankruptcy, severance pay is generally treated as part of your income and may be subject to the bankruptcy process. If you receive severance pay after filing for bankruptcy, it could be considered an asset that may be used to pay off creditors. However, if you received the severance before filing, it typically becomes part of your estate, and the bankruptcy trustee may use it to satisfy debts. It's essential to consult a bankruptcy attorney for specific guidance related to your situation.
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.
CAN I get a divorce before my wife files for a bankruptcy?
Divorce and bankruptcy are not related issues. One does not affect the other. If you want a divorce, go ahead and get one.
Should you spend your tax refund before you file for chapter 7 bankruptcy?
If received for last year yes. the one for next year, received after filing, no.
Does bankrumpcy for premarital debt affect my husbands credit?
Yes, if your husband has a bankruptcy before he got married it will still effect his credit.
How does surrendering your house in chapter 7 affect your credit report?
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
Do you have to get credit counseling before you can file for bankruptcy?
You do not have to necessarily get credit counseling before you can file for bankruptcy.
How many times has Dodge gone bankrupt?
Chrysler bought the Dodge Bros company in 1928. Chrysler was near bankruptcy in 1979 when it received a government loan. It did file for bankruptcy in 2009 before being purchased by Fiat.
How are lottery or casino winnings affected after filing chapter 7 bankruptcy?
In Chapter 7 bankruptcy, any lottery or casino winnings that are received after the filing date are considered part of your post-bankruptcy estate and can be claimed by the bankruptcy trustee to pay off creditors. However, if the winnings are received before filing, they must be disclosed and could be used to settle debts. Additionally, certain exemptions may apply depending on state laws, potentially allowing you to keep a portion of the winnings. Always consult a bankruptcy attorney for personalized advice.
If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?
Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.
Can you sell property before filing bankruptcy?
Yes but the trustee can seek to include the money received in your estate. If you have sold it to family or friends to avoid losing it in bankruptcy, the trustee can have the sale reversed.
When can you refile bankruptcy after a previous bankruptcy discharge?
That depends on your situation. If you have filed but not received discharge of debt, then you may refile immediately. If you filed for chapter 7 and received discharge of debt, then you can file eight years after discharge date for chapter 7. If filed under chapter 13 and received discharge of debt, can refile after two years for same chapter 13. http://www.jacksonwhitelaw.com/what-we-do/get-help-filing-for-bankruptcy/ If the first bankruptcy, C. 7, was dismissed for cause, you have to wait 180 days before refiling. If you file a C. 7 and get a discharge, you can file a C, 13 immediately after the 7 is closed, called a "Chapter 20" by bankruptcy lawyers who know what they are talking about.
When would someone be restricted from filing for bankruptcy?
A person may be restricted from filing for bankruptcy if they have filed for Chapter 7 bankruptcy and received a discharge within the last eight years, or if they have previously filed for Chapter 13 and received a discharge within the last six years. Additionally, if someone has had a bankruptcy case dismissed in the recent past due to failure to comply with court orders or fraud, they may face a restriction on re-filing. Finally, individuals who do not complete mandatory credit counseling before filing may also be barred from bankruptcy.
