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It depends on whether or not you qualify for Chapter 7 or Chapter 13. For Chapter 13, you will slowly have to pay your creditors back over time. For Chapter 7, you have to assign a value to everything that you own. The creditors will then determine whether or not these items will be included in the bankruptcy in a hearing.
What else can I help you with?
What happens if you consigned for real estate and the person declares bankruptcy?
You need to consult a nearby personal bankruptcy attorney that has experience in working with creditor's privileges.
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.
What happens if car dealership files bankruptcy how do you pay for vehicle?
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
What happens if a co signer files bankruptcy?
They both go bankruptcy
How do you file for personal bankruptcy?
Seek advice from a professional. Your local bankruptcy attorney is there to help you.
What happens if you consigned for real estate and the person declares bankruptcy?
You need to consult a nearby personal bankruptcy attorney that has experience in working with creditor's privileges.
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.
What happens to a bankruptcy when someone dies?
An administrator or executor of the estate needs to be appointed and file an appearance in the bankruptcy court. The case can continue to discharge of debts of the deceased. Get an experienced bankruptcy lawyer if there no attorney of record.
What happens if car dealership files bankruptcy how do you pay for vehicle?
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
What happens to all your personal property in your home after chapter 7 bankruptcy?
Generally, these are exempt assets and they remain yours, preumably to take with you.
What is account reaffirmation on a debt?
this is were you agree to pay the debt that you originally signed with the creditior this usually happens when someone is filling bankruptcy.
What happens if a co signer files bankruptcy?
They both go bankruptcy
Where can you find information about corporate bankruptcy laws?
Does corporate bankruptcy affect personal credit?
How do you file for personal bankruptcy?
Seek advice from a professional. Your local bankruptcy attorney is there to help you.
What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
In order to file bankruptcy must you have a bankruptcy attorney?
If you are filing for personal bankruptcy it is not necessary to have a lawyer. If you are filing for business bankruptcy, you must retain a lawyer on your behalf.
If you are not married but live with someone are they counted in the means test for bankruptcy?
When you are living with someone they are not included in your bankruptcy. If you are paying them rent, then the money you pay is an expense and will be considered for bankruptcy.
