Debt and Bankruptcy

10 years from filing. Some credit bureaus will remove a Chapter 13 after 7 years, but the law allows 10 years for all chapters.

You're really supposed to include ALL your debt in a bankruptcy, especially Chapter 13; you can get by with current month-to-month bills (utilities, etc.), but not mortgages. Most mortgages (including HELOCs) consider bankruptcy itself to be a default, so generally the answer is yes. You need to have your attorney bring the mortgage and HELOC into your plan.

Use correct grammar and appropriate sentences.

For example:

Dear Mr.Smith,

My wife bought a china cabinet from your company store in Vienna, Virginia. We had 2 young men, who did not speak good English, assemble our cabinet. They left a short while after. I was assembling items in the cabinet when I realized it was missing 10 nails and a light. I called your store and they did not pick up. I called in a few hours later. A person picked up and told me people would come and help me on Monday, March 8th at 12:00. No one came at 12, 1, 2, 3, or 4!

I called your store and asked why. They did not know and rescheduled it, for the next day at 3. No one showed up at 3, 4, 5, 6, or 7! I want someone to come or my money back. Thank you. My number is 777-888-9990.

Sincerely,

Mr. and Mrs.Harbor

Foreclosure Hold State signifies the ability to place a foreclosure action on hold. Meaning if there is a typical borrower forebearance review, litigation/contested action, the foreclosure is placed on hold to allow time for forebearance or contested action to be reviewed.

Saves both borrower (if attempting to reinstate/payoff loan) and Servicer, with avoidance of fees/costs accumulating due to foreclosure actions.

If it is a regular sale negotiation, the potential buyers will not know for sure what other potential buyers have offered for the property. Offers can be kept confidential between the buyer and lender, unless either party wants to disclose to another person the amount of the offer.

Thus, there is no way to know for sure if the bank has another, higher offer for the same property in foreclosure. Either call the bluff by walking away, or submit a better offer if it is still within your price range.

In a foreclosure public auction, where properties are bid on for the highest price, the bids are usually taken out loud or read aloud by the county sheriff, and the highest bidder wins -- there are no other negotiations.

If homeowners owe money on their HELOC (Home Equity Line of Credit), and are not paying the loan back, they can be sued for foreclosure.

The HELOC is secured by the real estate, and the mortgage company has a lien on the home. When the borrowers signed for the line of credit, they agreed that the bank could foreclose on their house if they fell behind on the payments.

No one specifically owes it, it's more of the entire government sort of thing

Credit unions have an unusual tool in their arsenals that's perfectly legal: They can revoke your membership (and ban you from rejoining) if you have ever "caused a loss" to the credit union--including discharging ANY debt owed to the credit union at ANY time. If she had another loan (NOT the car note) from the credit union before bankruptcy that was discharged, that's legal.

If the car note was her ONLY debt to the credit union, it's probably improper; but I expect you'll need a lawyer to fight it.

no because tax and it can lend money from other countries

Probably not; bankruptcy law generally prohibits the revocation of any license due to filing bankruptcy. However, if you're Bernie Madoff (or someone like him), that may not hold; fraudulent debts generally can't be discharged, and thus are prime targets for license revocation. (Also, if you have a securities license you may NOT be allowed to file Chapter 13; ask your attorney.)

yupp thats true lil jimmy

Both and anyone else you can think about in the middle, because it removes any claims down the road for not providing proper notice.

Yes.

But in California, you can not have more than ~$330,000 of unsecured debt if you are going to file for Chapter 13. Check your local bankruptcy rules to see if you qualify for chapter 13 bankruptcy based on your debt.

If you are not subject to the lawsuit for which the judgment was ordered then you would have no direct, or should I say immediate, responsibility. However any and every jointly held asset is subject to attachment; including homes, cars, bank accounts, etc.

f I got your question right then a DD has been issued from bank XYZ in your name and you want to deposit it in ABC. I don't see a problem in this. If the DD only has your name on it you can deposit it in any bank where you have an account. While if the DD has your bank & account details printed along with your name then you have to deposit it in the same bank as mentioned in the DD.

You cant get arrested if you ask someone for your money back you can only get arrested if you threaten them or hurt then for money.

A lawyer will only be disbarred for the legal violate, for breaking the rules of government. I am sharing a link which is really very helpful and informative.

http://www.galstyanbankruptcylaw.com/

The lowest priority of claims against a bankrupt firm are common stocks.

No, if there is any surplus of funds from a public foreclosure auction, it goes to the homeowners.

This is why banks keep raising fees, interests, charges, costs, and any other monetary items they can impose on an account.

The bank wants to be able to collect as much money as possible from the sheriff sale of the home.

Not surprisingly, a surplus that goes to the homeowners is very rare. Most homes do not sell for enough to pay off even the first mortgage, let alone any other liens or create a surplus.

However, in the rare cases where there is a surplus, the homeowners often have to request it from the court or county clerk. They will not just be sent a check.

The government would rather that the homeowners disappear and leave the surplus for the government itself to claim, instead of letting the borrowers know they are entitled to some funds as a result of the sale.

Usually the notice of foreclosure sale will identify what the prospective buyer needs to show up with. It may or may not allow inspection of the real estate. If you're thinking you can put an offer in before the sale and cut a deal, the whole reason for a "public" sale is that the borrower is still entitled to the best price that can be had, and that usually requires auction style bidding. The lender usually, but not always, will bid in the amount of the debt for various reasons, not the least of which is to make sure if anybody else wants the property, they'll have to bid more.

For a company, the debt ratio indicates the relationship between capital supplied by outsiders and capital supplied by shareholders. Often the debt ratio is computed as total debt (both current and long-term) divided by total assets. Thus if a company has $50,000 in debt and assets of $100,000, its debt ratio is 50%. The debt ratio is also calculated as total debt/shareholders' equity, long-term debt/shareholders' equity, and in other ways. However computed, the debt ratio provides insight into the firm's capital structure and will vary across industries. A low debt ratio isn't necessarily best: If a company can earn a greater return on debt than its cost, the firm should borrow more and raise its debt ratio -- provided the debt burden won't be crushing when business slows. Turning to consumers, the debt ratio is often shorthand for the "debt to income" ratio, i.e., an individual's monthly minimum debt payments divided by monthly gross income. The debt ratio is monitored by credit card companies and determines the consumer's ability to obtain additional credit

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