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Debt and Bankruptcy
State of owing money to creditors. A person or organization is bankrupt when judged to be legally insolvent.
4,664 Questions
Do all foreclosures have to be listed as public records?
Yes. But some are bought by people who see the property listing before it is listed as a foreclosure.
If the debt-equity ratio is 1.0 then the total debt ratio is?
The total debt ratio is .5; total debt would be .5 as well as total equity (both added together equal 1). Total debt ratio = .5 (total debt)/.5 (total equity)= 1.
What year did fingerhut come out of bankruptcy?
Fingerhut never went bankrupt, their business is running pretty well and they are expanding their catalog and services to their customers. It though acquired Bedford Fair, a women's apparel catalog, which was purchased out of Chapter 11 bankruptcy for $39 million in December 1998. You can find more information here : http://www.creditcardmenu.com/ccm/dld_crdid_92157.html
Can you report tenant to all three credit bureaus if they have filed bankruptcy?
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What if you had a foreclosure and it is not on your credit report?
It sometimes takes a month or two to be added as a negative on your credit report.
No they are not. As manager director i can confirm this! Blame river island for the rumours!
Typically, when a car is reposed the financing company is responsible for all fees incurred in repossessing your vehicle. If you added the reposed vehicle in your bankruptcy and it was discharged with your other debts, you owe nothing to the bank or any of its' subcontractors. It is the financing company's responsibility only to pay its clients. If the repo. company is harassing you for the storage charges they are out of line. They must seek restitution from the financing company only. If they continue to call and pursue, call your local attorney general and state government banking association to file a complaint against the repo company and the bank. After a bankruptcy is discharged it is illegal for a creditor to call you for any financial restitution of a federally discharged debt.
As a result, firms in unstable industries tend to use less debt than those whose sales are subject to only moderate fluctuations.
It wouldn't show up as a completed foreclosure, but it would show up. It would say "foreclosure started" or "foreclosure initiated" or something to that effect.
Can IRS hold funds for bankruptcy?
can the IRS take your check if you file bankruptcy , chapter 13 or will I have to submit the check to them once received.
What if the chapter 13 is dismissed?
By law, the debtor has a maximum of 30 days to begin the payments. Even if the plan is as yet unconfirmed by the court, the debtor must begin. If any adjustments to the plan occur later, the payments must be adjusted. Now, we come to the scenario: what happens if a payment is missed?
The court can dismiss the petition. The debtor loses the automatic stay. The creditors can begin collection procedures. The creditors can foreclose on loans. The creditors can request account seizures.
By law, the debtor can petition the courts to maintain the bankruptcy, or re-file (at debtor cost). But, as always, communication, communication, communication is the greatest tool a debtor has with his or her lawyer and the trustee. As soon as the debtor knows that a payment to the trustee is going to be missed or fall short in amount, the debtor must contact both the lawyer and the trustee. The debtor will do well to have a plan to catch up very quickly. Does the trustee have to accommodate the debtor? Not in the least. Might the trustee somehow accommodate the debtor? Yes. Debtors must realize that the trustee is obligated to the courts for exemplary execution of assigned tasks. The trustee is NOT on the debtor's side. Again, here is where the trust meets reality. The debtor submitted and agreed to the plan. Failure is really not an option.
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Law Dictionary: What Happens When Chapter 13 Bankruptcy is Dismissed for Non-Payment?
My bank is threatening foreclosure are they willing to accept a payoff lower than the amount owed?
Maybe, but no homeowner knows in advance how much a bank will accept or even whether it will consider an offer for less than the total amount owed. The best idea is to speak with the bank about getting the principal reduced in a loan modification or allowing the borrowers to pay less than what is owed in order to sell the house in a short sale.
What is the maximum personal loan that can be discharge in chapter 7?
Chapter 7 has no maximum loan amount.
How long is bankruptcy reported to credit bureaus?
10 years from filing. Some credit bureaus will remove a Chapter 13 after 7 years, but the law allows 10 years for all chapters.
Yes. You can cancel it by giving a written request to your bank. The bank can cancel the DD provided the person to whom you gave it has not cashed it already.
If the DD is already paid out, the cancellation cannot be done
How does someone collect money owed from a person who has already filed chapter 13?
You should file a claim in his/her Chapter 13 case; you may or may not get your money back. If you don't file a claim, you're out of luck; he/she is protected by the automatic stay while in Chapter 13, and by the discharge afterwards. (If you think it's fraud, consult an attorney.)
