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I am not an attorney but.... Yes, you can keep any loans or credit cards as long as you reaffirm with that company.
When you file, you list all your creditors. If you do not owe money to a specific credit card, then they are not considered a creditor. So, when its all over with, you can use the card. However, the card will eventually know that you filed, because they "check up" on you once in a while and they will find out. Then they may cancel it or just raise your interest rate.
Why would you keep unsecured debt? One should list every creditor to whom they owe money prior to filing. Failing to do so is a violation of bankruptcy laws. Sure, you can reaffirm secured loans if you can afford the collateral under the terms of the note. All unsecured debt should be discharged in chapter 7.
What else can I help you with?
What does apa stand for in bankruptcy?
APA stands for "Automatic Payment Avoidance." It is a term used in bankruptcy to describe the process where a debtor stops making automatic payments to a creditor after filing for bankruptcy.
If an account is closed by a credit grantor why would the card holder continue to make payments after bankruptcy findings are closed?
The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.
If you are in bankruptcy and its making things harder than before, are there any options available to me?
Depending on the type of bankruptcy you are in, you can drop out of it, often just by not making the required payments. Please note though that the bankruptcy will still appear on your credit reports for 10 years and you may have a hard time filing again, if you need to.
I brought a car for my girlfriend daughterI filed for bankruptcy which I was discharge.I put the car down on the form to keep for her to keep making payments but she stop and the car is in her name.?
Open Bankruptcy means that your petition has been filed, but you have not yet received your discharge papers. The discharge papers officially relieve you of your debt.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
Can I purchase another house if my house was discharge in chapter 7 but is not in foreclosure I'm still making my payments and living on it?
If your chapter 7 has been closed, yes - if you can find a lender for another mortgage. Your credit scores will have lowered because of the filing and discharge.
Can you open a checking account before bankruptcy?
After declaring bankruptcy it is smart to wait six months before obtaining a new account. If a trustee finds that you have XXXX amount of dollars in bank B after closing an account at bank A it will look as if you tried to defraud the bankruptcy law. For chapter 7 wait until discharge for chapter 13 as long as you are making timely payments it doesn't matter.
We did not reaffirm our van in the bankruptcy and kept making payments if we surrender it to the bank are we liable for the balance after auction?
If you did not list it in your BK, you will be responsible for any outstanding balance that is not recouped in the auction. Yes. Secured property is not dischargeable in any bankruptcy filing. ------------------------------ If you included it in the bankruptcy, but just didn't reaffirm it, you won't be responsible for any balance.
How will you know if someone that owes you money and is making scheduled payments files bankruptcy?
Go to where the bankruptcy is filed and have the file pulled and there will be an accounting of all the debts and payments being currently made. It is public information.
Chapter 13 bankruptcy be dissimisal?
You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.
If a married couple no longer living together own a house and one files bankruptcy should the person filing bankruptcy surrender the house so other can keep house or will it cause other person to lose?
The party that filed bankruptcy will be protected as far as the collections process is concerned. The bank will in response expect the party who has not filed bankruptcy to make all the remaining payments. If this happens, you may want to consult with a lawyer ASAP so that you are making payments on a house that will be co-owned by an X.
Can you keep your home if you file a chapter 13 bankruptcy?
Yes, as long as you keep making the payments.
