Debt and Bankruptcy

If you bought the car with a car loan and you intend to reaffirm the debt, and the equity in the car is equal to or less than the exemption available, any time.

If you paid cash for the car and it's value is equal to or less than the exemptions available, no problem, especially if you had to buy a new car to get to work or some other good reason.

Yes, if your equity in the house is greater than the exemption you can use and you cannot pay the trustee the difference, or if there is no mortgage on the house and its value is more than the exemptions.

If you are current with your mortgage when you file and get behind on your mortgage during the chapter 7, the mortgagee can foreclose.

Consult a local bankruptcy lawyer.

Yes. It is the most common reason for filing for bankruptcy. If the judgment creditor had an execution issued and attached any equity in your home, you may have a problem.

yes.....

The best way of approaching credit card debt is by consolidating all your credit card debt (assuming you have more than one credit card) into one account. This will obviously need to be approved by your creditors before you can follow this approach. This makes it much easier to manage payments as you will only need to make one payment to one specific account once a month or as agreed upon. Consolidating debt could also ensure a lower monthly premium although this depends on the financial situation you are in.

Depends on the debt type. Federal loans, mortgage, auto loans, among other specific ones, can not be discharged and thus can continue to attempt to collect. A bankruptcy might delay it for a short time.

In general, the answer is yes. Once a bankruptcy has been files, it will (should) stop the collectors from either calling or visiting you. Sometimes you have to show them proof of that. If they continue you may (again MAY) file a lawsuit against them. Every case is specific so there is not an universal answer.

Hope this helps.

You need year-to-date income and the past two years' tax returns.

If you have checked your report from Equifax and a discharged bankruptcy is on there, you can simply write to them with the amendments and they are obliged to correct their report.

10 years

Yes, you do. Credit card purchases are not secured by the purchases.

Please be advised that if you file and have all debts discharged by bankruptcy court, it stays on your credit record for 7 years. You will not be able to get any credit for anything for 7 years. Get used to the cash or check only for 7 years if you file. Even then it will be hard to re-establish credit. If you do get credit cards etc after that, you will be paying the highest interest rates, and may even have to have a co-signer for a loan on something like a car and for sure on a home. My next 2 car loans after I filed required co-signers. Just so you know.

Mother's home was foreclosed on. Served with court papers in March, and court trial was in November. The court papers said vacate asap. I am assuming one would have until the court date to clear out. But I think during this time one would have the chance to save the home. This one was not worth trying to save. Very , very old and much time and money need to be spent to make it livable.

Yes, unless that is part of the deal.

yes in texas and south carolina

12.5%

You should not have paid any unsecured debt after the chapter 7 was filed. All unsecured debts were discharged.

If you made the mistake of continuing regular payments on an unsecured debt after filing, you may have reinstated the debt. If in doubt, consult a local bankruptcy lawyer.

If you can pay off the debt IN FULL by the time the zero rate expires, then 0% is really an interest free loan, that frees up the rest of the cash you didn't use to earn interest or dividends. If you're not sure you can do that, pay up-front.

50$ /h

If you own the home, you should have received several notices that you were going to be foreclosed and then a notice that you were in foreclosure with a specific date and place for the auction. The notices vary from sate to state.

Publication of the auction date is a requirement, usually in a local newspaper.

If you are not the owner, you can look into local newspaper legal ads, local registry of deeds, specialized publications like Banker & Tradesman and local online websites.

Depends on the Lender. Lenders have their own guidelines regrading when they will consider someone for loan after a bankruptycy. The guidelines will distinguish and be different depending on the type of bankrutpcy you file. Most banks will consider you at least 3 years after you are discharged. Three years is enough time for you to rebuild your credit and to be given a 2nd chance based on how you do so.

If your credit is not in good shape, if you have outstanding balances or charge off you will need to find a way to clear those up before purchasing. What a bank doesn't want to see is outstanding debt (balances) that could become potential liens against new property. Most require you to pay them off before financing. So, if paying everybody off is not an option. BK Could be a great tool for getting you back in the game sooner.

Chapter 7 is a complete discharge of all dischargeable debts. Chapter 13 is a repayment plan of the debts under the bankruptcy court's supervision and protection.

3 years

If you have filed the financial management certificate due after the plan has been certified by the trustee as completed, you or your attorney must file an application for the discharge.

your straight swagging with moneyy