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Student loans and bankrupsy.can they be discharged?
Student loans do not go through the discharge procedure, only bankruptcy's. A discharge takes place six months from the date you filed for bankruptcy. Then you have to wait two years from the date of discharge to apply for a home loan.
Is bankruptcy discharged debt considered taxable income?
No, discharge of debts through bankruptcy do not create taxable earned income. However, you can have Capital Gains or Losses if any real-estate was disposed in that bankruptcy.
Can you discharge a court settlement through declaring bankruptcy?
In general, court settlements can be discharged through bankruptcy, but it depends on the nature of the settlement and the bankruptcy type filed. For example, debts resulting from personal injury claims or fraud may not be dischargeable in bankruptcy. It's essential to consult with a bankruptcy attorney to understand how specific settlements and claims are treated under bankruptcy law.
Can you reinstate a dismissed bankruptcy?
If you have come through a bankruptcy you have been through quite a bit. It is important to know that if your bankruptcy was dismissed, it may still be reinstated at a later date.
Can Chapter 7 remove your name from a joint mortgage?
There is nothing that "removes" a name from a mortgage. That contract, like all contracts, is relevant until it is completed (paid). However, chapter 7 bankruptcy can discharge the debt. On any joint debt that one party discharges through bankruptcy, the other account holder becomes 100% liable for the balance.
Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?
If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.
Can you protect your home in chapter 7 bankruptcy in Arkansas?
When you fill out the forms for the bankruptcy, make sure that you "reaffirm" the mortgage. That means that you will continue to pay the mortgage as agreed. The bankruptcy trustee that will be assigned to your case will guide you through the rest. HIRE AN ATTORNEY!! IF you own a home,,,NEVER go it alone for a bankruptcy.
Student loans and bankrupsy.can they be discharged?
Student loans do not go through the discharge procedure, only bankruptcy's. A discharge takes place six months from the date you filed for bankruptcy. Then you have to wait two years from the date of discharge to apply for a home loan.
Can you have back title of home after bankruptcy discharge?
If you lost the title through foreclosure or abandonment in the bankruptcy, probably not, but it depends on a number of factors. Consult a lawyer in your area.
Is bankruptcy discharged debt considered taxable income?
No, discharge of debts through bankruptcy do not create taxable earned income. However, you can have Capital Gains or Losses if any real-estate was disposed in that bankruptcy.
Can you discharge a court settlement through declaring bankruptcy?
In general, court settlements can be discharged through bankruptcy, but it depends on the nature of the settlement and the bankruptcy type filed. For example, debts resulting from personal injury claims or fraud may not be dischargeable in bankruptcy. It's essential to consult with a bankruptcy attorney to understand how specific settlements and claims are treated under bankruptcy law.
If a bankruptcy was discharged on an account that was sold to another lender and the original creditor is marking it as a charge off should it be marked as bankruptcy by the original creditor?
Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.
If you had bankruptcy in 2004 can you file for bankruptcy again?
Some strict limitations have been set by the new bankruptcy law. Debtors will not be able to file Chapter 7 bankruptcy if they've been through a Chapter 7 within eight years of the new filing. If they want to file for Chapter 13, they will not receive a discharge within two years of a previous Chapter 13 discharge and within four years if they were discharged from a Chapter 7, 11 or 12 bankruptcy.
What is the congress role in bankruptcy?
The United States Congress has the authority to establish the laws and regulations governing bankruptcy through the Bankruptcy Code. Congress shapes the bankruptcy laws, including eligibility criteria, debt discharge rules, and the procedures for filing and resolving bankruptcy cases. Additionally, Congress provides oversight of the bankruptcy system, regularly reviewing and amending bankruptcy laws as necessary.
What kind of services do business bankruptcy lawyers offer?
A business bankruptcy lawyer can guide your business through the bankruptcy process, and ensure that you can maintain as much of your assets as possible while undergoing the bankruptcy process.
Who can file a lien on property after a bankruptcy discharge?
No one. Liens can only arise on valid debts. They can be statutory (such as a mechanics lien) or judicial ( a judgment lien). However, bankruptcy discharges the underlying debt, unless the debt was one not subject to discharge (such as taxes of a student loan). These creditors can pursue these debts, receive a judgment and enforce collection through a judgment lien.
What type of student loans can you file under bankruptcy?
A law was passed in 1998 that has made it even more difficult to discharge a student loan in bankruptcy. It is incredibly difficult to discharge a loan in this way, and the only approach is to convince a court that repaying the loan would create a severe hardship for you. You would have a better chance of cancelling the loans or postponing payments through forebearance or deferrment.
