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It depends on if its for an individual or business. For an individual there is Chapter 7 and 13. In chapter 7 you will basically repay your debt at a reasonable amount to a trustee over the course of 5 years. In Chapter 13 your assets, (home car) are safe as long as you make the payments to the trustee. In Chapter 7 basically every debt is wiped out (but you'll take a big hit on your credit score) and your assets are not safe. A trustee can order your assets (car,home) to be sold to pay off your creditors.
What else can I help you with?
You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
Did Deltona Corporation file bankruptcy?
No they never did file for bankruptcy
How many year after you file bankruptcy can you file bankruptcy aging?
If you are talking about a Chapter 7 bankruptcy, It takes 7 to 9 years after you can file bankruptcy again.
Why did General Motors ford and Chrysler file for bankruptcy?
They did not file for bankruptcy.
Did ballenger construction harlingen Texas file for bankruptcy?
No, they did not file for bankruptcy.
Do both parties on a joint mortgage have to file bankruptcy on a joint mortgage?
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
How do you file for bankruptcy in South Africa?
Bankruptcy is a legal proceeding whereby an individual or a business can declare an inability to pay back debts. Bankruptcy allows individuals or businesses to either restructure their debt and pays it back within a payment plan , or have most of their debts absolved completely.
What companies have file bankruptcy in 2008?
what companies did file a bankruptcy in 2005,2006 and 2007.
Can I file your cell phone bill on bankruptcy?
No, you cannot file my cell phone bill in a bankruptcy. However, you can file YOUR cell phone bill in a bankruptcy.
Who can file for bankruptcy in Wisconsin?
Anyone who is a resident of the state can file for bankruptcy in Wisconsin. There is no restriction on who can file, only for which chapter they can file in.
Can you file bankruptcy if you caused a car accident?
Can you file bankruptcy if you caused a car accident?
Can you file bankruptcy with income coming in?
Yes, you can file with an income coming in, which chapter of bankruptcy you file depends on your income
