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First, it's under Federal law.
Yes, I would call it secured.
Now, you need to get some advice...you are in a terrible situation....your 401k would have been exempt from seizure in BK to any amount...however, the loan money from it is not. You may well end up losing the money you took out, and having to pay back the loan, but more importantly, if you can't, or if you lose your job and the loan then becomes due (common under 401ks that allow loans), and you can't pay it back....even if they use the account to pay the loan - it will all become taxable income, and you will have to pay the early withdrawal penalty...which can come to about 50% of the amount. So your setting your self up for another financial (and tax) major problem.....get some advice now.
What else can I help you with?
How long does chapter 7 bankruptcy stay on your credit in Florida?
10 years
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.
Is a revolving credit card account considered past due if it was part of a Chapter 13 bankruptcy?
A revolving credit card account included in a Chapter 13 bankruptcy is not considered past due as long as you are making the required payments according to the bankruptcy repayment plan. During Chapter 13, your debts are reorganized, and creditors must cease collection efforts. However, if you fail to make the payments outlined in the plan, the account could become past due. Always consult with your bankruptcy attorney for specific guidance related to your situation.
How often can I file for Chapter 7 bankruptcy?
You can file for Chapter 7 bankruptcy once every 8 years.
How often can you declare Chapter 7 bankruptcy?
You can declare Chapter 7 bankruptcy once every 8 years.
Can an unsecured promissory note be discharged in California under Chapter 7 Bankruptcy?
Yes.
Are annuities exempt in chapter 7 bankruptcy in Florida?
yes
Can you be considered unqualified for a chapter 7 bankruptcy?
Yes.
How long does chapter 7 bankruptcy stay on your credit in Florida?
10 years
Do you have to be working to file for bankruptcy?
There are three types of bankruptcy namely Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Business Bankruptcy. Chapter 7 bankruptcy will discharge most types of debts for the average citizen. It will stay on record for ten years, but the major benefit is the stay it provides which prevents creditors from hassling you. On the other hand Chapter 11 bankruptcy is used by businesses, not citizens, to reorganize debts while Chapter 13 bankruptcy is wage earner's bankruptcy, which allows you to repay your debt through a plan. Among these three, Chapter 13 bankruptcy is considered as the best option for people with a steady income, who happen to have fallen behind in loan payments. idk and i dont give rats a**. hahahaha
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
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.
Can you protect a structured settlement in a chapter 7 bankruptcy?
Yes you can protect it under chapter 7 bankruptcy
What information can you provide about Chapter 8 bankruptcy in terms of eligibility, process, and potential outcomes?
Chapter 8 bankruptcy does not exist in the United States bankruptcy code. It seems there may have been a misunderstanding or confusion with the chapter numbers. The most common types of bankruptcy in the U.S. are Chapter 7, Chapter 11, and Chapter 13. Each chapter has specific eligibility requirements, processes, and potential outcomes. It is recommended to consult with a bankruptcy attorney for accurate information on the different types of bankruptcy available.
Does a promissory note with a family member get discharged in a chapter 7?
Yes
What is Bankruptcy Chapter 4?
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.
