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In divorce settlement the final decree showed as property settlement a 100000 promissory note payable to ex wife over 4 years Ex wife is filing chapter 7 bankruptcy Will she lose income from note?
Wiki User
∙ 15y ago
Knowing divorce law firsthand, the ex-husband will have to pay all of the ex-wife's debt or go to jail. The husband, before going to jail will kill her and hide her body; we will hear of this "tragedy" on Fox News (if woman is white) ad nauseum, but it will be a missing white woman news story first, then a missing white woman's dead body story. When divorce law becomes more even-handed, the tales of missing white women will soon stop! Knowing divorce law firsthand, the ex-husband will have to pay all of the ex-wife's debt or go to jail. The husband, before going to jail will kill her and hide her body; we will hear of this "tragedy" on Fox News (if woman is white) ad nauseum, but it will be a missing white woman news story first, then a missing white woman's dead body story. When divorce law becomes more even-handed, the tales of missing white women will soon stop! The money she has coming is an asset. That asset may be used to pay her debts. So while she may not actually receive it anymore, the debt must be paid (just directly to her creditors), and the court, protecting those creditors will even make sure the ex pays it.
Wiki User
∙ 15y ago
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Can an unsecured promissory note be discharged in California under Chapter 7 Bankruptcy?
Yes.
Can you protect a structured settlement in a chapter 7 bankruptcy?
Yes you can protect it under chapter 7 bankruptcy
Can i file Chapter 7 to get out of paying my ex for property settlement?
If that's the only reason to file for bankruptcy, probably not. ALL debts must be listed and treated equally, so if you want to get the ordered property settlement discharged, all your other debts must also be proposed for discharge. Even if you get a discharge on the property settlement, which may not be possible in certain bankruptcy court districts of states, you will be open to contempt charges in the divorce court and still be required to pay the settlement. To be sure, consult a local experienced bankruptcy lawyer.
Does bankruptcy attorney keep rental property income?
The answer to this question depends on whether you are filing Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, if the rental property has equity, meaning that the value of the property exceeds what is owed on the property, the trustee would almost definitely seize property and sell it to satisfy some or all of your unsecured debts.
How soon after Chapter 7 bankruptcy can you have property given to you?
I think chapter 7 bankruptcy at least take 5 to 6 years to clear the bankruptcy so its automatically remain on your name for those years.You will get your property only after this case is complete.
Can you place a lien on a persons property who is in chapter 7 bankruptcy?
No, unless you get relief from stay from the bankruptcy court.
Can someone have more than one property in chapter 7 bankruptcy?
Yes.
Can you file parking tickets under a chapter 7 bankruptcy?
Parking tickets cannot be discharged under Chapter 7 bankruptcy. They can, however, be discharged under Chapter 13 bankruptcy. Chapter 7 bankruptcy is known as "liquidation" bankruptcy. This generally means that all of a debtor's non-exempt property may be sold by a bankruptcy trustee, though the laws for property exemption are different in each state. For example, in New York, most debtors are able to keep all of their property. Chapter 13 bankruptcy is a 'reorganization of debts', and allows the individual to keep their property and income while paying off all or part of their debt over a three to five year period. In the case of a Chapter 13 bankruptcy filing, the parking tickets can be considered "unsecured" debts (similar to credit cards and medical bills), and can thus be treated as such for repayment.
After a Chapter 7 bankruptcy can a previous lender attach a lien to a new property purchased?
Not if the debt was officially discharged in the bankruptcy.
When in a chapter 13 bankruptcy for more than 4 years and receiving money for a 100 percent disability that happened after filing bankruptcy can bankruptcy take the settlement?
"Bankruptcy" does not take anything. The Chapter 13 Trustee is the one who "takes" anything there is to be taken. And, no, your settlement - if you mean a retroactive check for disability (SSDI) - is not available to the trustee. If you are talking about a settlement of a lawsuit, probably not, unless the cause of action existed at the time you filed the c. 13 and did not exempt any possible award. Talk to your bankruptcy lawyer.
Will bankruptcy trustee take pain and suffering settlement?
If (a) you filed Chapter 7 *AND* (b) the injury occurred *AFTER* you filed, no. Otherwise, you should discuss it with your bankruptcy attorney.
Is there a way to keep property when a chapter 13 is converted to a chapter 7?
No. If it is not covered by the allowed bankruptcy exemptions then it is subject to seizure and sale or liquidation. The filer always has the option to have the bankruptcy dismissed,
