0
What else can I help you with?
What happens to your debt if the bank collapses?
If a bank collapses, your debt does not disappear. It is still owed to the bank or may be transferred to another financial institution.
What happens to credit card debt if a bank fails?
If a bank fails, credit card debt is typically still owed by the cardholder to the bank or to a new entity that acquires the debt. The debt does not disappear just because the bank fails.
When your home forecloses and your RV is repossessed can the loan company garnish your bank account for debt still owed on them?
Yes, if they receive a court judgment in most states it can be used as a wage garnishment.
Should you file Bankruptcy when the bank forecloses on your house?
It would seem the time to act is before they foreclose. And BK may delay, but won't prevent the foreclosure...you would still have to pay the debt.
If I don't reaffirm a car loan can the lender take the car back at any time even if I have paid equity into the car after a period of time?
If you don't reaffirm the debt, then the creditor has the right to repossess the car and sell it at auction to recover the debt owed to them, irregardless of what equity that you've paid. If you wished to keep the car, then you should have demanded that your attorney reaffirm the debt with that particular creditor.
What happens when a bank writes off a debt?
The debt is simply deducted from the bank's assets. The bank sets its own interest rates for lenders, and any debts they write off is balanced by an increase in the interest rate.
Can your wages be garnished if you foreclose on a house?
depending on the state you live in yes. If the bank forecloses and they get a default judgment against you, they can garnish your wages. Not in Texas though. There are other states that don't allow wage garnishment, except on federal debt
What happens if the second mortgage lender hasn't contacted you on a reaffirmation of a loan after a chapter 7?
Nothing happens, the lien still exists- and the 2nd lender can still foreclose if you stoip making payments. The bigger worry is why you would WANT to reaffirm a mortgage debt!
How do you make a debt on doodle god?
Bank + Money = Debt Money+ House = Bank Gold + Paper= Money
If a debt collector puts a lien on your house does that mean your mortgage co forecloses your house?
It does not follow. The lien of the debt collector comes after the mortgage loan. Which means that the debt collector still may not be able to collect any money.
If you file chapter 7 can you keep your secured debt?
You may be able to keep some or even all of your secured debt. Simply reaffirm at the time you file, or it can be done as an addendum later. Your attorney will be familiar with the process. Keep in mind that the additional debt you keep may make it difficult or impossible to continue with the bankruptcy. Consider this as you decide what to reaffirm and what to surrender.
What happens when you owe a bank money and are unable to repay the debt?
When you owe a bank money and are unable to repay the debt, the bank may take legal action to recover the money, such as seizing assets or taking you to court. This can negatively impact your credit score and financial future.
