Debt and Bankruptcy
State of owing money to creditors. A person or organization is bankrupt when judged to be legally insolvent.
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Thylawyer
The non-priority areas as those where India is self-sufficient and did not need foreign technology or capital. For example, a...
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I would recommend that anyone considering filing bankruptcy should learn the facts and educate yourself about what you are...
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In California and other states, a portion of worker's comp premiums paid by employers go into the Uninsured Employer's Fund. ...
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I would think the bathroom has leaked....alot of pipes to a bath, could be any of them. At least you know, now you can fix the...
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After the foreclosure is finalized and the property has reverted back to the lender. The original mortgage loan account shows...
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They don't. Despite popular publicity, all a Bankruptcy discharge does is halt the actual collection efforts of creditors, the...
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A Chapter 7 can be filed with an open Chapter 13.
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I don't really understand your term "frozen pension." Was it not exempt from the bankruptcy proceedings? Or was it held until a...
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This is rather complicated. If your personal and business expenses were totally separate and there was no commingling of assets...
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In NC you cannot file again for another 7-10 years. I don't know if that goes for all states or not. If you fall behind on 13...
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BK's don't become public record until after they are discharged. Perhaps you could just ask him, or one of his family members. I...
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AnswerNo, not via the loan. It may get a little screwy because of you being married though. AnswerI filed a 13 in Indiana...
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I dont believe it will ever be removed from most credit reporting company files the same way how many company's you have directed...
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Yes. If you include it with all other debts and all of your assets. You can't pick and choose. go to www.nolo.com for answers...
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Only if the bankruptcy is currently discharged.
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Perhaps, but the terms will not be favorable, most especially the rate of interest. It is also a requirement when in a Chapter 13...
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The Bankruptcy Laws have changed dramatically. Many, if not most, filings are now being given a payment plan rather than being...
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AnswerI am a Mortgage Loan Consultant and I have made it my area of expertise in working with people with bankruptcies, bad...
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You must have the lien avoided in the bankruptcy court. This has to happen before the bankruptcy case is closed or you have to...
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I don't know what district you live in, or whether your particular district prefers one form over another. You can check with...
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Here is the contact info. Important Contacts Equifax equifax.com PO Box 105069 Atlanta, GA 30349 (800)...
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6 Years from the date of filing of the Chapter 13. (Only because it was converted).
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You either pay or dont pay or file B/K also. If a co-borrower has debt discharged through bankruptcy, the other signatory is...
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A foreclosure, being a legal action, is a significant derogatory mark. This would show twice on your credit report. Once as a...
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If you filed March 11, 1997 it will stay on reports for 10 years so it should come off march 12, 2007. Chapter 7 bankruptcies...
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Provided the account was indeed discharged and the late fees were generated after the discharge, the answer is no.
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No. Filing a bankruptcy creates a public record that does not go away because you did not complete the bankruptcy. - once you...
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Your debt is completely your own, and will not affect your fiance's credit rating. It would play a part in purchasing a house in...
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Generally - Chapter 7 allows you to purchase a car or get a loan for a car after DISCHARGE (about 6 months after you goto...
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I don't know what other tax ramifications might result from the conversion, but if one converts their case from 13 to 7 prior to...
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yes
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Liens, either involuntary or voluntary cannot be discharged in BK, there are there to stay. However, it can be possible to AVOID...
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It is possible, but not very wise. What will probably happen is the court trustee will ask the BK be denied. Any high priced or...
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Yes.he has one sister and three brothers.
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Simply, as soon as someone will agree to give it to you. With todays heightened credit requirements, a recent foreclosure is a...
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All liens survive bankruptcy. You can get rid of the lien by "avoiding" it. Look up "Avoiding Liens" in google or findlaw.com...
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You should receive a letter from the mortgage company stating that mortgage lien is released when the house is sold or auctioned...
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In the case of a home, it will be sold at Sheriff sale on its own. (or the Trustee may sell it) In the case of any other...
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After the ten year anniversary passes, contact the CBR and advise them to remove it. IT WILL NOT GO AWAY BY ITSELF! You have to...
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Section 605 of the Fair Credit Reporting Act reads..."(1)Cases under title 11 (United States Code) or under the Bankruptcy Act...
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You have the option of filing yourself. Be that as it may, a BK 13 is quite complicated. It would be to the filer's advantage to...
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Most times in bankruptcy, the stock continues to trade on the open market, assuming it is already publicly traded. It is only...
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All mortgages are eliminated in foreclosure. The position of the the mortgage - which is virtually always determined by who...
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The answer to this question depends on the policies of the individual lender and the type and status of the bankruptcy. The...
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You'll have to "shop around" but there are lenders willing to work with you. Ironically, many financial institutions consider...
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Now that the election is over, it is almost a certainty that new BK reform will be implemented within 2005. If all the new...
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A Chapter 13, whether it is dismissed or successfully receives discharge, is on your credit report for 7 years. A chapter 7 is...
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PA. has a "Strong Arm" Clause in conjuction with the fraudlent conveyance statutes. This gives the trustee almost unlimited...
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No, all creditors must be included in bankruptcy whether or not the accounts are in default. Intentionally omitting a creditor...
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Yes, it is possible but there are circumstances. Time is a big factor, that is how much time has passed since the chapter 7 was...
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There are no time limits for filing a Chapter 13.
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The documents that are on file with the local recorders office are permanent, so it will always remain "public record" in that...
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The foreclosure will simply continue as it normally would have if the bankruptcy had not been filed, except for any special...
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It is a disposition option sometimes available to the mortgagor (borrower) to voluntarily deed the property to the mortgagee...
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Yes. Answer {| |- | This is where you are unable to pay for the house and you voluntarily give the house back to the lender....
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Foreclosure and FICO The total impact of a foreclosure on ones credit report is estimated to be between 200-300 points. The...
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In civil court these are terms that are used to identify the parties to the suit. The PLAINTIFF, is the aggrieved party who is...
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Yes. You'll probably have to pay a higher interest rate and may have certain restrictions applied, but not necessarily. Many...
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Possibly. The trustee will take into consideration that the filer has assets to purchase property. It is possible that the...
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While registered pension plans [RPPs] are exempt from seizure in bankruptcy situations, most Registered Retirement Savings Plans...
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Sorry for being the bearer of bad tidings, but with the credit history described procuring a loan would not be likely. It is...
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A "motion of relief of stay" is an action filed to have the debt in question released from bankruptcy proceedings. A creditor has...
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No. However, they will force place an insurance of their choosing for usually two or three times the average cost of a policy you...
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Private mortgage insurance or PMI is insurance to protect the lender if the home is foreclosed upon and there is a deficiency....
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Look here might help. Yes. A chapter 7 will normally only delay a sheriff sale (which may be sufficient time for the...
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Yes. Any creditor can petition the court to be excluded from a bankruptcy. It is up to the judge (sometimes the BK Trustee) to...
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You can walk into any bank's branch and ask them for a demand draft requisition form. Once you fill the form and pay the money...
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I am not an attorney, so please check with one. However, anything that you do to convey property etc before bankruptcy is...
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Any money you inherit prior to a bankruptcy being discharged would have to be revealed to the judge and trustee assigned. These...
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Yes, but beware of the bank or the recipient of the check claiming Fraud.
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I think it depends on when the bankruptcy is discharged, but it would be discussed at your meeting with the creditors and the...
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On my website, I have an article on 10 tips to rebuilding your credit after bankruptch:...
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It depends upon the laws of the state, most states allow 30 days. Contact the clerk of the circuit court in the county where the...
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It means the debt was written off as a result of a bankruptcy discharge, so it cannot be reported as income in a 1099 to the...
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yes, my bankruptcy was filed in 1991 and I was told if would be off the records in 7-10yrs. It is still showing today! If you...
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Bankruptcy filings may legally remain on a credit report for 10 years. However, it is customary for Chapter 13 bankruptcies to...
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This would be the best case scenario for your credit report, but it does not happen automatically. Hopefully, your bankruptcy...
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Credit scores are based on ALL the information contained in your credit report at the time they are calculated. Even guesses are...
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AnswerForeclosure is a legal procedure filed against borrowers who have failed to pay a mortgaged home loan. If the loan itself...
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Foreclosure is a very damaging entry on a CR, and will cause problems if the person tries to obtain credit (especially another...
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No, but it helps. Many people pay their bills instead of buying groceries, but they can't sustain that for long. The test for...
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Only if you have filed chapter 6.
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Who is the other person? Unless it is your debt or your are the spouse of a debtor and have joint debt or community property...
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If you have 10 different debts that total $1000.00 and borrow $1000.00 to pay them all off, you have consolidated all those small...
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Yes. It's one of their usual tactics. Asking if you can borrow the money from a friend, relative, or refinance a house, sell...
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AnswerFirst, get your discharged letter from the bankruptcy court and send it to the credit agencies. No matter what you have put...
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When filing a Chap. 7, all debts and assets must be listed. All credit cards must be relinquished. Sometimes a consumer is...
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If the defendant/debtor listed the plaintiff as a creditor in his or her bankruptcy, then the plaintiff probably cannot pursue a...
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Neither Chapter 7 nor Chapter 13 necessarily includes or doesn't include your mortgage. You can file a Chapter 7 and surrender...
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No, not unless the landlord requires a credit check before moving in. Many cases, they will still rent to you because renting is...
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This depends on the type of loan you are referring to and the lender. Mortgage lenders typically want a person to have 12...
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BK for co-op properties, is very complexed. There are so many contributing factors, you need to consult an attorney who is VERY...
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Yes. It is usually the only other option for a borrower. If not the creditor might seek legal recourse in the form of a lawsuit....
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The last word was it was waiting editing of terminology, and has not become offcial. ALthough there have been some amendments...
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No. All entries have to be marked "included in bankruptcy". Obviously that only applies if they were actually included.
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Hard to say. If the primary borrower has been making the mortgage payments on time, it doesn't seem like he should be adversely...
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No. Nor can a person lose a job for BK or garnishment actions. There are probably ways for an employer to "get around" the law...
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AnswerI honestly used this site once, thinking that a professional was answering the questons, so my question still isn't...
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