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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

What happens in SA if a person does not pay there debts can they be jailed for it?

In South Africa, a person cannot be jailed solely for failing to repay debts. However, creditors can take legal action to recover the debts through civil court processes, which may result in asset seizure, wage garnishment, or a garnishee order against the debtor's bank account. Non-payment of debts is a civil matter, not a criminal offense.

How long can you stay in the house after judgment of foreclosure?

you need to put on your communication and negotiation hat, because if you talk with your mortgage lender and you may ask for 30. 60 or even 90 days just depending on the banks. if you keep quiet you may only have 3 - 5 days to get out.

My house went into foreclosure and was bank sold. I did not pay the HOA fees. I have been served with a Civil Subpoena for Personal Appearance. What will happen if I do not show up?

Since your HOA fees are separate from your mortgage and you have to keep up, you need to show up with some kind of arrangements to pay the fees. Otherwise a bench warrant will be issued. This is the reason to stay away from Homeowners Associations. They are buried in with Protective Covenants that can foreclose on any house they choose if one of any Covenant rules are broken, though most are not followed. The association is part of that covenant.

Will the bankruptcy court take a lawsuite settlement?

It depends on the specific circumstances of your bankruptcy case and the laws in your jurisdiction. In some cases, lawsuit settlements may be considered part of the bankruptcy estate and subject to distribution to creditors. It's best to consult with a bankruptcy attorney for guidance tailored to your situation.

Does the bankruptcy court do a search for existing civil suits filed in your name?

No, the bankruptcy court does not typically search for existing civil suits filed in your name. It is typically your responsibility to disclose any ongoing or pending legal actions to the court as part of your bankruptcy petition.

Can you file bankruptcy on a civil lawsuit judgment?

If you have pleaded no content to a negligent homicide and have been convicted and the family of the deceased files a civil lawsuit against you in Montana where the accident took place, can you file bankruptcy?

What colony was founded as a refuge for debtor prisoners to work and to pay off their debts?

Georgia was founded as a refuge for debtor prisoners to work and pay off their debts.

What would happen to sharecroppers who could not pay their debts to landowners?

Sharecroppers who could not pay their debts to landowners could potentially face eviction from the land they were farming. They might also lose access to essential resources needed to sustain their livelihoods, leading to greater financial struggles and poverty.

What region or regions did debt peonage exist?

Debt peonage existed in various regions around the world, including parts of Latin America, the Southern United States, and parts of Asia like India. It was a system where laborers were forced to work to pay off debts they could never fully repay, leading to a cycle of exploitation and poverty.

Can a request for default judgment be filed if there was no summons?

There can be no judgment of any sort unless the lawsuit has been filed and "heard" in accordance with state statutes.

Often the defendant debtor believes they have not been legally served because the civil summons was not physically placed in their hands. In the majority of U.S. states that is not a requirement. A civil summons can be hand delivered in several ways (process server, courier such as FedEx, etc.) or it can be sent as registered mail via U.S.Postal service.

The premise for such action is that a "reasonable attempt" needs to be made to inform the defendant that he or she is being sued. If the named person cannot be found and/or he or she refuses delivery of said summons the lawsuit will go forward under the default laws. In such instances a default judgment can legally be filed. The defendant does have the right to contest the validity of said judgment to have it quashed. But unless it can be proven that the required notification procedures were not followed the judgment will stand.

How does a Deed in Lieu Foreclosure affect Socia security benefits?

A Deed in Lieu Foreclosure can impact Social Security benefits if the forgiven debt is reported as income, potentially increasing the recipient's income and affecting benefit eligibility. It is important to consult with a tax professional to understand the implications on Social Security benefits.

Can you go to jail for removing appliances from a foreclosure?

Removing appliances from a foreclosure without permission can be considered theft, which is a criminal offense. Depending on the value of the items removed, the individual may face criminal charges and potentially go to jail. It is important to verify ownership rights and seek permission before removing any items from a foreclosure property.

What states have the statutory right of redemption after foreclosure?

Several states have statutory rights of redemption after foreclosure, including Alabama, Connecticut, Delaware, Iowa, Minnesota, Mississippi, Missouri, Tennessee, and Wisconsin. These states allow homeowners a period of time after foreclosure to buy back their property by paying the outstanding mortgage debt.

What colony was formed by people that could not pay their debts?

Georgia was initially founded as a colony for debtors in 1733 by British philanthropist James Oglethorpe, providing them with a chance for a fresh start and economic opportunity.

Are deficiency judgments allowed in Minnesota after foreclosure?

In certain cases, deficiency judgments are allowed in Minnesota after a foreclosure.

While they may be allowed in a judicial foreclosure proceeding, the amount of the judgment may be limited by the fair market value of the property that was foreclosed on. Homeowners have the right to a jury trial to determine the fair market value of the property.

If nonjudicial foreclosure is used with a power of sale clause in a deed of trust, and the six month redemption period is available to the homeowners after foreclosure, a deficiency judgment is not allowed.

Minnesota statutes relating to foreclosure of real estate are located at the following place in the state laws:

Minn. Stat. sections 580.01 to 580.30

Will bankruptcy remove law suites?

Filing for bankruptcy can potentially halt or discharge existing lawsuits related to debts. Once bankruptcy is filed, an automatic stay goes into effect, which temporarily stops creditors from pursuing legal actions. However, the outcome depends on the specific circumstances of the lawsuit and the type of bankruptcy filed.

Is Florida a judicial or non judicial state for foreclosures?

Florida is a judicial state for foreclosures. This means that lenders must go through the court system to foreclose on a property in Florida. This process typically involves filing a lawsuit against the borrower.

In what region did debt peonage exist?

Debt Peonage was practiced in Peru from the 16th century until 1950. This was the practice wherein workers has to meet a required working time in a week and that they are not allowed to go beyond the land assigned to them.

Regarding squatter's rights who has the right to property that has been maintained for years in a foreclosure sale?

"Squatters" are a misunderstood group. Generally, in the United States they have no rights. They are trespassers during their period of trespass. They are people who use and improve another person's land openly and without permission. If the owner allows the situation to extend for a period of years (that period varies from state to state) they can file an action for "adverse possession" and obtain title to the premises. Until they do that and succeed they have no rights. The procedure varies in different states.

It sounds as though the party who maintained the property for years had someone's permission to do so. In that case they would not be considered "squatters". If they had an agreement to maintain the property while living there then they could sue the other party if they breached the agreement. However, they are using the property subject to the mortgage that the owner granted to a bank. The bank has the right to take possession of the property by a foreclosure. It can sell the property and apply the proceeds toward the unpaid balance on the mortgage.

What can debt collector do to you can he put you in prison?

(U.S. Answer) A debt collector can seek an injunction against someone. If granted, the injunction or decision may require specific actions by court order. The obligated individual can be found in contempt of court for willful neglect of fulfilling the court's requirements. The punishable crime is contempt of court, or violation of a court order (not necessarily the wishes of the debt collector).

Who said Law is the correct judgment of the state?

Plato, a classical Greek philosopher, is often attributed with the quote "Law is the correct judgment of the state." This concept reflects his belief in the importance of laws in maintaining a just and orderly society.

In a final judgment they require you to fill out a Florida Rules of Civil Procedures form 1.977 Fact Information Sheet and return it within 45 days what will happen to me if I don't?

What can happen if you refuse to complete and submit the form is the plaintiff can ask the court for a contempt charge against you and file another order for you the complete the fact sheet in another 45 days. If you fail to comply the plaintiff can then ask the judge for another contempt against you because the order for the form is a order from the judge himself he will on the plaintiff request issue a order for bodily attachment. What that means he will order a sheriff to go pick you up and bring you to his court for a debtors examination of your assets. The sheriff will usually allow you to bring your financial information with you but be assured you will be taken before the judge either way. If you refuse to either obey the sheriff or refuse to answer questions related to the fact sheet you will more than likely be jailed until your ready to comply.

My advise, contact the plaintiff or his attorney and work out a way to pay the debt. If you really didn't owe the money in the first place you wouldn't have lost the case now would you?

(whoever wrote that last little judgmental tidbit is a real douche bag. I know this doesn't answer the originakl question, but I'm sure it answers the question you had after reading it, "what the hell..??")

What was the Fair Debt Collection Act?

It protects the person who owes the debt from harrassing and dunning contacts from creditors.

The Federal Debt Collections Practices Act (FDCPA) governs the debt collection practices for personal / individual debt. The FDCPA sets forth a myriad of restrictions regarding the practices Debt Collections may use in their efforts

What are some Third World debt fund-raising activities?

Some examples of Third World debt fund-raising activities include charity events, auctions, crowdfunding campaigns, benefit concerts, and partnerships with corporations for donations or sponsorship. These activities aim to raise funds to alleviate debt burdens in developing countries and support sustainable development initiatives.

You work for a collection agency you know the laws a collector called your grandparents house a released personal information about your debt to your grandparents without your permission While calling?

You have two options: You can find out if your state allows you to record a conversation with the other person giving you verbal permission. If you can tell your grandparents to record this information, make sure you catch them telling your grandparents your personal informaiton. Then you either contact a "Consumer Law Attorney", or you file a small claims court order towards the collection agency. They have violated your rights! Take them to court! You can also go to creditinfocenter.com and purchase a book that is called, "Turning the Tables on Your Creditors". Read the Credit Reporting Laws, Fair Credit Reporting Act, and the Fair Debt Collection Practices Act. Good Luck with this process. One more thing if you purchase this book, The FCRA, and CRA laws will be included. Wanda Improve Credit, LLC

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