Debt and Bankruptcy

Generally, no. The co-signer would become solely responsible for paying the loan.

Generally, no. The co-signer would become solely responsible for paying the loan.

Generally, no. The co-signer would become solely responsible for paying the loan.

Generally, no. The co-signer would become solely responsible for paying the loan.

No. When you file bankrutpcy you are making a declaration about your financial situation. If you were to put in an actual application for financing a home the problem would be finding a lender willing to touch it. You would be a bad financial risk to any type of lender at this time. Once you are discharged it will take several years for a lender to take a chance on you. You could try owner financing soon after discharge, someone might be willing to take a chance on you if everything else is strong. Job, income etc.

"Morally bankrupt" refers to a state in which an individual, organization, or entity lacks ethical principles or values, often engaging in actions that are considered morally wrong or corrupt. This term suggests a complete disregard for morality, leading to decisions and behaviors that prioritize self-interest over integrity or social responsibility. It implies a profound failure in moral judgment or a total absence of ethical standards.

Some laws prohibit you from opening another business or possibly getting a license after you file bankruptcy. Louisiana has different court systems, but the Federal case law in general says it is a violation of the "fresh start provision" and federal courts have gone against the states on this matter saying it is illigal to discriminate against you for your bankruptcy.

In Washington State they have tried to say people who were incorportated have to pay off thoughs they owed before can incorportated again. Or if you have no insurance and get into a wreck, they will not give you a drivers license until you pay the other persons damages. The problem is you can not require someone to pay a debt a federal judge said you do not have to pay. It would violate the judges order in requiring you to do that. Your debts were not forgiven rather there is an injunction against the attemt to collect that debt. I think you can take it from there.

So if they do not let you, it would be illigal.

If you continue making the regular mortgage payments, including the escrow amounts, you are reaffirming the debt. It would be better to formally file a reaffirmation agreement that is approved by the court.

None, if you mean refinance a debt in the chapter 13. If your car dies, and you can find one that does not require a payment much more than you were paying before, you can probably get it approved by the trustee and the court.

Yes you can and make sure to get the dates when these debts occur and all of the contact numbers so that you can communicate about the matter. Sometimes 3rd parties get there hands on it and may not have complete and accurate info. Keep in mind to be kind because you never know if the debt is accurate and you may need to negotiate a few things down the road.

The best way to stop foreclosure is to stop in occurring this event to happen.

Ten years from the date of original filing.

Yes, but you must list all debts, not just medical debts.

In some cases yes. If the vehicle was purchased using the same lender against whom you have defaulted with a different loan, and there is a remaining balance after the repossession of that property, then the court can order a Conversion of Collateral, and the paid off vehicle can be repossessed by that lender.

Additionally, if the court chooses, real property can be ordered liquidated to pay a bad debt.

debt and bankruptcy

Equity multiplier = 24

Equity ratio = 1/3.0 = 0.33

Debt ratio + Equity ratio = 1

***THIS EQUATION IS THE KEY TO THE ANSWER***

By manipulating this formula you can find

Debt ratio = 1 - Equity ration

1 - 0.33 = 0.67 or 67%

Debt ratio = 67%

The IRS does not like its agents to file for bankruptcy, so I understand.

If you're asking if you can discharge taxes owed to the IRS, the answer is, maybe. If the tax is income or certain property taxes, and if the income tax owed was determined more than 3 years prior to filing - and if you were not concealing income - those taxes can be discharged.

You should really consult a bankruptcy lawyer who knows about taxes.

There is no such thing. Business entities cannot file for chapter 13, only persons. Chapter 11 is for reorganization of business entities, or for persons who owe more than $360,475 in unsecured debts and more than $1,081,400 in secured debts.

Sorry, but this makes no sense. A chapter 13 filed in November 2011 should have had a plan confirmed by now. If there is a court date of some kind for January, the case may be about to be dismissed.

In any event, if the chapter 13 is still pending when you get your tax refund, it will have to be given to the chapter 13 trustee.

Yes, if the sale price is less than you borrowed (minus any capital amount you have paid off), you are still responsible for the difference and ongoing interest on the difference. If you are in debt you should seek help from a debt adviser - there are some who will help you for free, they will be able to get the interest frozen and advise you weather you should go bankrupt to free yourself form debt.

It will be on your report for 10 years, so saying you filed in `05, you have an additional 3 years.

You shouldn`t!

Banks make money by investing your money and give you a fraction of the return.

Invest your money by yourself and earn the whole return. Learn about investing money first, its not difficult.

A bankruptcy usually stays on your credit report for 7 years. If you forgetadebt on the bankruptcy petition, it may may be 7 years from the time the bankruptcy petition was amended, but otherwise it is from the time the bankruptcy became file.

1. Student loans.

2. Past due child support.

3. State income taxes owed.

4. Federal income taxes less than 3 years when the amount due was determined.

5. Debts incurred through fraud or other illegal means.

6. Debts incurred knowing or intending to file bankruptcy.

Who told you there were only three?

There are a number of ways the US could start to take care of its national debt. But the best would be to start addressing the Social Security and Medicare expenditures and try to make them sustainable.

All of them! We are taking our all of our kitchen appliances when we are notified of our move out time. I bought them with my own money. The greedy banker didn't.

Yes he can file for Bankruptcy if he wants to depending on the situation of his property.