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Bankruptcy should only be filed if a large amount of debt is unpayable to the point where it is seriously interfering with your daily life. You can hold onto debt for as long as is necessary to pay it off. The only time you are eligible to file bankruptcy according to US law is when you are completely devoid of the ability to pay your bills, cannot foresee any upcoming period of time when you will be able to, and the debt is begin to become detrimental to your everyday financial wellbeing.
What else can I help you with?
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.
Can you file bankruptcy for lawyer fees?
You cannot file a bankruptcy directed at one single debt.
Can a debt collector continue to call after you file bankruptcy?
No, not as long as they were included in the bankruptcy. You should give their information to your bankruptcy attorney, who will contact the debt collector. If that doesn't work, your attorney will certainly know what to do next.
If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?
You have to, it is a debt...it is just a secured debt...by the lien on the property.
Can you file bankruptcy on traffic tickets if they are 15 years old?
No. Traffic citations are not covered in any type of bankruptcy proceeding and the debt you have associated with that will remain with you.
Can you file for bankruptcy on a three thousand dollar debt?
no
Is the debt from a personal lawsuit removed when you file for bankruptcy?
no
When should one file for bankruptcy?
One should file for bankruptcy when ones amount of debt is so overwhelming and the calls from creditors just won't stop. Basically when your at ones end financially. But one should consult the proper bankruptcy company to discuss all ones options.
Can a debt collector still collect your debt if you file chapter 13?
No they cannot, as long as you included them in your bankruptcy. They would be in violation of Federal Law, and liable to suit and possible penalty from the bankruptcy court. The bankruptcy attorney, or the trustee should be notified about any collections on a bankruptcy account.
Should you file bankruptcy or debt consiladation with a total credit card debt of 27k?
not unless you know you cant pay it then yes do so be for it gets out of control
How soon after receiving a settlement from an accident can you file bankruptcy?
This will be considered an asset. You cannot file bankruptcy if you have a number of assets that can be used to pay your creditors. Depending on the amount of the settlement, you should wait years to file bankruptcy.
Debt is settled can money be giving back if you file banruptcy?
No money is given back to you, and a bankruptcy stays on your credit for 10 years.
