Debt and Bankruptcy
State of owing money to creditors. A person or organization is bankrupt when judged to be legally insolvent.
Total questions 22900
Follow
ID0404741693
wrote the first answer to Can you open a separate bank account if you filed for bankruptcy jointly and are now separated from your spouse 4 minutes ago
Akemi.Mokoto [0]
made this minor change to the answer of What happens if NASCAR goes bankrupt 7 minutes ago
ID0839727437
added What happens to home if only the co-owner files bankruptcy to Debt and Bankruptcy 40 minutes ago
Jphelm (supervisor) [370]
added related link Robert Zoellick to Who is the president of World Bank 26 May 2012 13:49
Answers
Thylawyer
Griggs Laurie
Savehomes
N2146X
ShannTCon
Edits
Keats
Pasteur
Just Ali
Kluss
Dfoofnik
Organization
Pasteur
Keats
Deb
Ten Tibias
Jphelm
Questions
TAGXXX
Robert K Williams
Diana Connick
Wolfaaron
Community
Thylawyer
Debt patronage, a system common to regions of acute labor shortages, notably central Mexico. Debt patronage took form during the...
Popularity: 127 • Tools: Recategorize
The Short Answer is 3 years before you can obtain an FHA insured mortgage and 5 years before you can obtain a "conforming"...
Popularity: 126 • Tools: Recategorize
It depends on whether your debt is secured or unsecured. Unsecured debt is when your debt is not tied to any asset. Examples are...
Popularity: 122 • Tools: Recategorize
Credit scores are calculated based on ALL the information in a consumers' file at the time the score is requested. Without...
Popularity: 121 • Tools: Recategorize
AnswerThis would be best answered by a good bankruptcy attorney who knows Arizona law.I believe no matter what you do bankruptcy...
Popularity: 115 • Tools: Recategorize
No. You may want to speak to a local attorney who can advise you on spousal privilege and your rights if you are a crime victim.
Popularity: 112 • Tools: Recategorize
Yes converting a Chapter 13 to a 7 will further lower your credit score. It will show up on the public records section at the...
Popularity: 111 • Tools: Recategorize
The amount of the loan forgiven becomes income on which you will have to pay income taxes. If the forgiveness is due to...
Popularity: 111 • Tools: Recategorize
Yes, the higher the % of assets financed with debt, the higher the risk of financial ruin. Why? You can skip a dividend to an...
Popularity: 108 • Tools: Recategorize
If you're applying for an Apt. in Section A Housing or smaller, not so nice residential areas you probably won't have a problem...
Popularity: 107 • Tools: Recategorize
Adding to below--it shouldn't even be on your report after 7 yrs. Lots of times it drops off before that. Yes, but having...
Popularity: 106 • Tools: Recategorize
Interesting Question! A credit score of Zero occurs for a variety of reasons-most due to no credit history, but not due to...
Popularity: 106 • Tools: Recategorize
I'm a bit unclear as to what you mean by "consolidated". If loans are from private lenders, and have no Federal/State connection,...
Popularity: 105 • Tools: Recategorize
You list the creditor or collector of the last notice your received. For example if you received a collection notice from an...
Popularity: 105 • Tools: Recategorize
AnswerThe bank is exercise it's right to sell the house in lieu of coming after you. In most states, you would need to file a...
Popularity: 105 • Tools: Recategorize
Check out this site: ...
Popularity: 104 • Tools: Recategorize
Why do you think the bank has to do anything? You signed a document filed with the court called "Statement of Intention" in which...
Popularity: 104 • Tools: Recategorize
Under regular circumstances..No. However there are "hardship discharges" for instance someone has student loans, and becomes...
Popularity: 102 • Tools: Recategorize
AnswerAfter your discharge, you will be untouchable (for the most part) for 12 months. It would be helpful to your future credit...
Popularity: 100 • Tools: Recategorize
One can usually get student loans after bankruptcy so long as they meet the other eligibility requirements for those loans. ...
Popularity: 100 • Tools: Recategorize
No, a mortgage is a debt, and can't be bankrupt. Pnly a debtor can be bankrupt, i. e., unable to meet obligations as they become...
Popularity: 100 • Tools: Recategorize
The legal action of foreclosure may show on a consumer credit report for 7 years from the date of entry (filing). Here is more...
Popularity: 99 • Tools: Recategorize
See http://www.finaid.org/questions/bankruptcy.phtml for the answer.
Popularity: 99 • Tools: Recategorize
A basic, rough primer: BK is always done under FEDERAL Laws, in a Federal Bankruptcy Court. Basically State makes little...
Popularity: 99 • Tools: Recategorize
Organizations like the American Consumer Credit Counseling can advise you on your best options regarding your debts. They will...
Popularity: 97 • Tools: Recategorize
AnswerNo. All balances (except those which extend beyond the plan - like mortgages) are discharged at the end of the 13 plan.If...
Popularity: 96 • Tools: Recategorize
This is one of those "maybe" questions. I would think it doubtful, as you cannot play favorites when it comes to creditors. It...
Popularity: 96 • Tools: Recategorize
Only if they are more than three years old and meet specific requirements More specifically, yes, taxes may be discharged in...
Popularity: 95 • Tools: Recategorize
Legally they can't, once the bankruptcy is filed it places an automatic stay on collection attempts/calls, lawsuits,...
Popularity: 95 • Tools: Recategorize
Basically there is no absolute plug number. It differs from one firm to another.Say for instance: a starting fast growth...
Popularity: 95 • Tools: Recategorize
This depends upon the specifics of the contract, the mortgage, that you signed at the time of closing. Many mortgages have...
Popularity: 94 • Tools: Recategorize
If the referrence is to a consolidation loan then that depending on the party's financial situation would be a better choice than...
Popularity: 94 • Tools: Recategorize
Yes. A lot of debtors have trouble staying with the strict budget guidelines given to them in a chapter 13 bankruptcy. For that...
Popularity: 94 • Tools: Recategorize
Yes, but the creditor might file an adversary proceeding to object to the discharge if the debt was fraudulently incurred.
Popularity: 93 • Tools: Recategorize
I don't know what state you reside in, or how the debt is classified However, it seems possible that the SOL has expired. Write...
Popularity: 92 • Tools: Recategorize
An irrevocable trust can only file under a Chapter 7-11-13 if is defined as a "business trust". If that hurdle is met then to...
Popularity: 92 • Tools: Recategorize
In the state of Texas, yes the creditor can follow for the deficiency balance.
Popularity: 92 • Tools: Recategorize
Yes. The federal court system has exclusive jurisdiction over bankruptcy cases; they are heard in US Bankruptcy Court.
Popularity: 92 • Tools: Recategorize
Section 523 of the Bankruptcy Code outlines certain debts that may not be dischargable through bankruptcy and remain as a person...
Popularity: 91 • Tools: Recategorize
No debts can be added after discharge. I disagree with Nate. As long as the debts that were missed were incurred prior to the...
Popularity: 90 • Tools: Recategorize
I believe it doesn't matter what state you filed, bankruptcy is a federal matter. It will stay 10 years on credit reports!
Popularity: 89 • Tools: Recategorize
current financial resources
Popularity: 89 • Tools: Recategorize
Yes. Personal banruptcy does not relate to the company where the person is employed.
Popularity: 88 • Tools: Recategorize
Foreclosure notations can appear within the account listing itself, called a "tradeline" and the actually legal filing of...
Popularity: 88 • Tools: Recategorize
There are two primary types of personal bankruptcy: Chapter 13 and Chapter 7. Each must be filed in federal bankruptcy court. As...
Popularity: 87 • Tools: Recategorize
I would say the difference between a bankruptcy and a bankruptcy with a repo is not great enough for a person to keep a car they...
Popularity: 87 • Tools: Recategorize
One normally files a Schedule C as a part of their bankruptcy petition. Schedule C lists the various items of property found on...
Popularity: 87 • Tools: Recategorize
The same thing that happens when a Chapter 13 is dismissed in any other state. It is as if the bankruptcy was never filed. The...
Popularity: 87 • Tools: Recategorize
Your first notification should be from your lender notifying you that forclosure proceedings have been filed. All states have...
Popularity: 86 • Tools: Recategorize
I HAVE THINGS I RENT FROM ARRONS FURNITURE RENTAL MY ATTORNEY ADDED THEM INTO MY CHAPTER 7 BANKRUPTCY AND TOLD ME TO TELL aRRAONS...
Popularity: 86 • Tools: Recategorize
Too much! STATED BY AUTHOR
Popularity: 86 • Tools: Recategorize
Short answer, it depends on the circumstance. Foreclosure just means that they took back their property according to the terms...
Popularity: 85 • Tools: Recategorize
Yes. There are generally 3 ways to halt or postpone the sale: 1) File bankruptcy2) Negotiate with the lender for a...
Popularity: 85 • Tools: Recategorize
To keep your Chapter 13 payments down. The attorney is advising you to have less assets. If you have a car worth $10,000 and...
Popularity: 84 • Tools: Recategorize
You need to contact the attorney who handled your bankruptcy and let them act on your behalf. The only thing I can think of, is...
Popularity: 84 • Tools: Recategorize
If you can find a "good" (non-predatory) lender, expect to pay around 3 points higher then someone without the bankruptcy. PAY...
Popularity: 84 • Tools: Recategorize
debt\equity mix is an important ration b\c it gives the reader of financial documents the ability to quickly determine how liquid...
Popularity: 84 • Tools: Recategorize
Absolutely. They will be handled as part of the process.
Popularity: 84 • Tools: Recategorize
No, it does not
Popularity: 84 • Tools: Recategorize
11 U.S.C. 525 states in section (c)(1) and (2) that: "(1) A governmental unit that operates a student grant or loan program and a...
Popularity: 83 • Tools: Recategorize
Yes! I'vd got clients who have had great success in getting dismissed bankruptcys removed from their credit reports. My...
Popularity: 83 • Tools: Recategorize
Bankruptcy is filed through the federal Bankruptcy court. Contact your local courthouse or a local attorney to find out where...
Popularity: 83 • Tools: Recategorize
Actually, the laws have changed a bit since the 2005 Bankruptcy law was signed. Instead of the "yard sale" way of valuing your...
Popularity: 83 • Tools: Recategorize
The answer to your question is Yes, they can report a debt that was never origionally reported to the CRAs. This is most common...
Popularity: 82 • Tools: Recategorize
Yes. Look under the Statement of Financial Affiars. There is a section for repos/foreclosure/garnishment.
Popularity: 82 • Tools: Recategorize
If you owe anything at all on the cards, even though your payments are current, you have to include them in your bankruptcy...
Popularity: 82 • Tools: Recategorize
You can file for a Chap 13 to be "dissolved". Although it is probably too late for that in your case, as you are already in...
Popularity: 82 • Tools: Recategorize
Six years from the time your previous filing was discharged. However, BK courts are taking a closer look at those who have filed...
Popularity: 82 • Tools: Recategorize
Debt consolidation is probably the best thing that any person that finds themselves in debt can do for themselves to ensure a...
Popularity: 82 • Tools: Recategorize
An individual can file bankruptcy without an attorney, and therefore file without attorney fees. But the process is complicated...
Popularity: 82 • Tools: Recategorize
A foreclosure will show on your credit for seven years from the date of last activity. The federal statue of limitations is...
Popularity: 81 • Tools: Recategorize
If it has been discharged (At the end of the Chapter 13 plan), then you will most likely have to work out some type of payment...
Popularity: 81 • Tools: Recategorize
Many banks will work out a equiable arrangement, unless they were one of the creditors in the BK. Which usually doesn't happen...
Popularity: 81 • Tools: Recategorize
BK proceedings will stop repo. action temporarily. A car is a secured debt, whether or not the lender will let you reaffirm your...
Popularity: 81 • Tools: Recategorize
That happened to me and I included it in my chapter 7 but it made it difficult to open a new account. Open your new account now...
Popularity: 81 • Tools: Recategorize
AnswerIt's better to sign the house back to the financer to save them the trouble of going through foreclosure, just for their...
Popularity: 81 • Tools: Recategorize
Generally it is reserved for business/corporations, unless fairly special circumstances and conditions are met....and even then,...
Popularity: 81 • Tools: Recategorize
No. If you filed 2 bkrs, then they will both show up under public records. Example: If you home was foreclosed on, you...
Popularity: 80 • Tools: Recategorize
I don't know if the procedure varies from state to state, but in Indiana one normally files a Motion to Sell Real Estate (or...
Popularity: 80 • Tools: Recategorize
There is no timeframe. Some take years. Some creditors can file suit in the bankruptcy court to protect claims if need be....
Popularity: 80 • Tools: Recategorize
No. But they can ask to be excluded from the bankruptcy. Usually a deal can be made with the lender to keep a vehicle. If it is...
Popularity: 80 • Tools: Recategorize
It may make it difficult to get low or reasonable interest rates and there will likely be added stipulations as to extra fees and...
Popularity: 80 • Tools: Recategorize
It depends on what assets you are talking about. Should you declare things like your house and car in your bankruptcy the bank or...
Popularity: 80 • Tools: Recategorize
It is illegal for an employer to discriminate based on bankruptcy (United States Bankruptcy Code, 11 U.S.C. §525(b) ), however,...
Popularity: 79 • Tools: Recategorize
If you are making regular payments and have not had any problems, it is unlikely they would do much of anything. Depending on...
Popularity: 79 • Tools: Recategorize
Yes. You must report any additional income to the Trustee. If the Trustee or even worse, the US Trustee find out, they can...
Popularity: 79 • Tools: Recategorize
it can do as it pleasessfasf
Popularity: 79 • Tools: Recategorize
Impossible to answer for sure without knowing the state laws that apply. Usually, the foreclosure auction sign is placed some...
Popularity: 79 • Tools: Recategorize
In general that is dependent on the lender and the provisions of state statutes. It may also be affected by whether the filing...
Popularity: 78 • Tools: Recategorize
USC TITLE 11 > CHAPTER 5 > SUBCHAPTER II > § 523 (a) A discharge under section 727, 1141, 1228 (a), 1228 (b), or 1328...
Popularity: 78 • Tools: Recategorize
AnswerI spoke with a lawyer...Voluntary foreclosure could be better because it would only be 1 hit on your credit instead of...
Popularity: 78 • Tools: Recategorize
Everyone knows that you cannot bankrupt student loans. Search the web with the keywords “bankruptcy” and “student loans” and you...
Popularity: 78 • Tools: Recategorize
Q: Are all of the debtor's debts discharged, or only some?A: Not all debts are discharged. The debts discharged vary under each...
Popularity: 78 • Tools: Recategorize
This may vary from circuit to circuit, but in the 7th Circuit, student loans can and do continue to accrue interest during the...
Popularity: 77 • Tools: Recategorize
Sorry, but I don't see how this could happen. Was your ex granted the house in the divorce proceedings. Or were you still on...
Popularity: 77 • Tools: Recategorize
There is no way to "minimize' anything that is placed on a credit report. The only option you have is to make certain the report...
Popularity: 77 • Tools: Recategorize
LEGALLY: Chapter 7: Day after you file. Chapter 13: Day after you file with permission from the Trustee and court. IN THE...
Popularity: 77 • Tools: Recategorize
