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That would depend on the type of debt. Some taxes are not discharged in bankruptcy. Although it is not true that all state and federal taxes are immune to bankruptcy proceedings. Depending on the circumstances some are dishargeable.

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10y ago

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What happens if you sell your secured debt you file bankruptcy and the original creditors want the items back?

Assuming you mean you sold the item that was security for the debt, you violated the contract and may have committed a crime if you did not pay the debt off with the proceeds. The creditors can ask the bankruptcy court to deny your discharge or dismiss your case, and charge you with fraud, a federal crime. if you failed to disclose the sale in the bankruptcy documents.They may not get the items back, but you will have to pay the creditors what you owe. Even if you land in jail or federal prison, you will have to pay the debt off.


What statement is not true regarding bankruptcy?

The judicial branch of the Federal Government includes the U.S. Supreme Court.


What regarding bankruptcy is not true?

Creditors must always eliminate the debt owed by the debtor when there is a bankruptcy.


Can you file bankruptcy on a truck repo past due loan?

No, if you mean, can you single out this debt to "file bankruptcy on." You file bankruptcy on ALL your creditors. You don't get to pick and choose. But you can certainly include such a debt in bankruptcy.


Is there a sample letter to notify debtors of bankruptcy?

There are letters that attorneys use to notify creditors of a debtors bankruptcy. This letter states that the individuals have filed bankruptcy and the creditors are to cease all contact and attempts to collect their debt.


Can your ex-husband file bankruptcy on a business debt he owes you and has been ordered to pay you by a civil court judge in the state of Indiana?

Certainly. That's why there are federal bankruptcy courts that have jurisdiction wherever the debt is.


If you are a landholder on a home and the person files bankruptcy will they be able to include the debt they owe you into the bankruptcy?

They can include it, but the creditor/landholder can file a relief of stay to have the debt excluded from being discharged in the bankruptcy. The decision of what debts are to be discharged are determined by state and/or federal law and the bankruptcy judge.


What triggered the periods of growth and decline of the US federal debt?

debt and bankruptcy


Can monies owed to the state of Maryland but not taxes be discharged in bankruptcy?

To be certain of the status of such debt you should check the state statutes if filing a state bankruptcy. If it is a Federal filing, debts owed to any state department or affiliate is only dischargeable in relation to the type of debt and when it was was incurred.


What is the difference between debt settlement vs bankruptcy?

There is a subtle difference between debt settlement and bankruptcy. Debt settlement allows a person to pay off some of their debt with their creditors. Bankruptcy claims do not result in payment of the debt. Either practice creates bad credit scores for the consumer.


If you have credit debt and that institution files bankruptcy do you still have to repay?

Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.


Is your wifes bankruptcy your problem?

Your wife's bankruptcy should not affect you unless you have joint debt. In that case, the creditors can pursue collection efforts against you.