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What is chaptur 7?
Chapter 7 is a "fresh start" bankruptcy. You are discharged from all debt included in the bankruptcy. There are some debt that you cannot discharge.
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.
How do you discharge a civil judgment?
The same way you discharge any debt in a bankruptcy. Unless it involves fraud of the kind that is not dischargeable., or is for a debt that is not dischargeable.
Can you discharge your car in bankruptcy?
You can't discharge a car or any other asset. You can only discharge a debt (money owed).
What if the debt is incurred after the bankruptcy filing but before the bankruptcy discharge?
When an individual files for bankruptcy, he/she must list down all the creditors and debts that they have. If the bankruptcy has already been filed and the individual has incurred new debt but has not yet been discharged by bankruptcy, that new debt is not included in the bankruptcy discharge. For an official opinion, it is advised you seek legal counsel. It is really important to seek legal advice from the expert about filing for bankruptcy.
What happens when a creditor doesn't file a proof of claim in a bankruptcy case?
If it is not a secured debt it will be included in the bankruptcy discharge.
When all the debt is paid from the sale of real property during a bankruptcy plan is the Bankruptcy dismissed or discharged?
discharge
What happens to your liens if you discharge IRS debt in bankruptcy?
The liens survivie the BK.
Do you have to declair every debt when taking bankruptcy?
Yes. You must declare everything you own as well as everything you owe. All debts, even those not subject to discharge must be listed in your bankruptcy petition.
How do creditors report your bankruptcy discharge?
The creditor reports to the credit reporting bureau(s) they belong to that the debt has been listed in a bankruptcy in which a discharge has been granted. Strictly speaking, any debt that a creditor does not challenge in timely fashion is probably discharged, unless the debtor has committed fraud during the bankruptcy. The court does not specifically determine that a debt is discharged unless an adversarial action involving the discharge of that debt has been heard and a decision by the court has been made.
Are accounts after bankruptcy included in bankruptcy?
Any debt that you accumulate before your bankruptcy filing and have listed on your petition will be eliminated when you receive your discharge as long as your creditors do not file an injunction against you. After you receive your discharge you are welcome and able to open new credit accounts but any debt you accumulate will not be considered a part of the bankruptcy you filed before opening the account.
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.
