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If you filed bankruptcy separate from your spouse and have a hard time repaying your reaffirmed debt does that count against you?
My guess is that late payments on reaffirmed debt(s) affect one's credit the same as late payments on any revolving credit.
Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
What else can I help you with?
If your mortgage was not reaffirmed and it was discharged in bankruptcy do you have to repay it?
Any debt discharged through BK is cleared and no longer exists. The debt may no longer exist but the lien against the property still exists. While you do not have to pay the loan, the note holder can still take possession of the property.
What if someone did not reaffirm their car after they went bankrupt and missed four payments what will happen?
Your car will likely be repossessed if you did not sign a reaffirmation agreement. If it was included in the bankruptcy, but just not reaffirmed, however, a judgment can not be placed against you for past due amounts or any balance owed. They can, though, slap you with a repossession on your credit record.
If you did not get your mortgage reaffirmed does this mean you will lose your property?
From my understanding after filing Chapter 7, our house was not reaffirmed, but the mortgage company clearly states that as long as the payments are kept up they will not take action against the house and if they do, their interest is solely in the house, not contents.
What happens when a judgment is against us while in the process of claiming bankruptcy?
If you are filing bankruptcy, you should have a bankruptcy lawyer onboard, and this is a question for him or her to deal with. You do not want to go through a bankruptcy on your own, especially as the bankruptcy rules have changed.
How can you claim bankruptcy to avoid paying bills?
In order to claim bankruptcy a court has to issue a bankruptcy order against you. The best place to find information about bankruptcy and the whole process of declaring bankruptcy is the official government website.
What is an example sentence with the word bankruptcy?
His attitude brought him bankruptcy An involuntary bankruptcy petition may not be filed against an individual consumer debtor who is not engaged in business.
Can you work full time after bankruptcy in US Arizona?
Of course. It is illegal to discriminate against persons who have filed bankruptcy.
If you are applying for a job as a sheriff officer will a bankruptcy be held against you?
Only the employing agency can answer this question for you, but probably not, especially if you discharged the bankruptcy according to the bankruptcy referee's instructions.
How can one declare corporate bankruptcy in the UK?
To be considered bankrupt, a court has to issue a bankruptcy order against you. One can apply to the court for bankruptcy if they are unable to pay their debts.
Is there some type of protection against paying a deficiency judgment under chapter 7 bankruptcy law if you filed chapter 7 before the foreclosure in Illinois?
If you reaffirmed the mortgage in the c. 7, which went to discharge and was closed, no, other than possibly filing a c. 13 to arrange to pay the amount due. If the mortgage company received relief from stay while you were in the c. 7, the deficiency was discharged with the other unsecured debts. If you had a bankruptcy lawyer, ask him or her.
Clear title on a vehicle that has a bankruptcy against it in California?
Bankruptcy affects debts and creditors, not vehicles. A debtor owning a vehicle exempts it or the equity in it if there is a car loan. The debt is reaffirmed. This is all part of the public bankruptcy record. If the vehicle is not exempted, the trustee takes and sells it as part of the bankrupt "estate." If there is a chapter 13, and the debtor wants to sell the vehicle, s/he will have to get the court's permission. Either the trustee or the debtor would ask the court to sell free and clear of all liens. There are a number of potential problems if you are the buyer or the bankrupt seller, so get a lawyer.
How do you file bankruptcy to get a judgment off your driver license?
Filing for bankruptcy will have no effect on any judgement that has been applied against your dirvers license.
