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When are you allowed to get another loan after chapter 13 bankruptcy but before discharge?
Generally you are supposed to get permission from the Bankruptcy Court to get a loan while you are in a Chapter 13, frequently by filing a Motion to Incur New Debt. If the court deems the loan to be reasonable and necessary, they will grant it. If it is frivolous, unnecessary, or unduly wastes money that could be paid to creditors, the court won't grant it. Examples: If your car breaks down and you need a new one to get to work, the court would probably approve the new loan if it is for say $300/mo on a $6,000 car. If you try to get a $50,000 loan at $600/mo on a new Corvette, probably not since its not reasonable and necessary that you drive a Vette to work. If you try to get a loan on a second car when you have one perfectly good car, again probably not reasonable and necessary. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
What else can I help you with?
After Chapter 7 bankruptcy has been Discharge can buy a home?
After Chapter 7 bankruptcy has been Discharge can buy a home
What is the law for the time limit given for discharge on chapter 7 bankruptcy?
What is the law for the time limit given for discharge on chapter 7 bankruptcy?
Can you file for chapter 13 bankruptcy more then once?
Yes, but if you have previously filed a chapter 7, you must wait 4 years before allowed a chapter 13 discharge.
When can you refile bankruptcy after a previous bankruptcy discharge?
That depends on your situation. If you have filed but not received discharge of debt, then you may refile immediately. If you filed for chapter 7 and received discharge of debt, then you can file eight years after discharge date for chapter 7. If filed under chapter 13 and received discharge of debt, can refile after two years for same chapter 13. http://www.jacksonwhitelaw.com/what-we-do/get-help-filing-for-bankruptcy/ If the first bankruptcy, C. 7, was dismissed for cause, you have to wait 180 days before refiling. If you file a C. 7 and get a discharge, you can file a C, 13 immediately after the 7 is closed, called a "Chapter 20" by bankruptcy lawyers who know what they are talking about.
How long does it take after a bankruptcy is discharged to show on your credit report?
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
How many times can you file Chapter 7 bankruptcy in a lifetime?
Under the new law taking effect on 10/17/05, you need to wait 8 years after a Chapter 7 discharge before you are eligible for another Chapter 7 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.
Can a Chapter 7 bankruptcy discharge court order judgments?
yes but you still need to talk to a Bankruptcy attorney
If you had bankruptcy in 2004 can you file for bankruptcy again?
Some strict limitations have been set by the new bankruptcy law. Debtors will not be able to file Chapter 7 bankruptcy if they've been through a Chapter 7 within eight years of the new filing. If they want to file for Chapter 13, they will not receive a discharge within two years of a previous Chapter 13 discharge and within four years if they were discharged from a Chapter 7, 11 or 12 bankruptcy.
Will Chapter 7 Bankruptcy discharge New Mexico gross receipts tax?
no
How long do you have to wait to file another chapter 7 if you filed one before the new bankruptcy laws took affect?
8 years from the date of discharge of the previous chapter 7.
Can you file chapter 13 bankruptcy after you have filed a chapter 7 in Indiana?
A chapter 13 bankruptcy can be filed if it has been at least 4 years from the date of the discharge of a chapter 7. Nonsense. You can file a chapter 13 the day after the 7 is closed. You may not be eligible for a discharge, but the point of doing a "chapter 20" is usually to dump the unsecured debt in the 7 and use the 13 to get caught up on the mortgage, for which no discharge is necessary.
