or do they look at my credit history too .
At age twenty-one, by law, your son is fully empowered to enter binding contracts. So under existing law, he , like any other competent adult, empowered to enter into a lease of real estate.
Your question has much more to do with whether any residential landlords will agree to enter into a... Read more »
So, why is this a bankruptcy question?
And in what country do you reside? The venue of a US bankruptcy case is the federal district in which you're resided for the past 180 days, or in which the majority of your assets are situated.
You say nothing about the amount of your... Read more »
The member 8-9 years ago was in chapter 13 and represented a loss for the lender. Can they asked the member to re-pay the old balance that was cleared and discharged from CH13?
The so-called "permanent injunction", against creditors' attempting to collect a discharged debt, which accompanies the entry of every Discharge Order in bankruptcy, certainly seems to prohibit that sort of "ask". On the other hand, nothing in a bankruptcy Discharge... Read more »
Must an executor be named and an Estate Account established if there will be no sale of property, just the reclaim of a small amount of funds?
Most people/legal heirs, would not even open a probate proceeding where the only asset is a small amount of funds. However, if the funds are held in a financial institution, and the decedent had not executed a Power of Attorney in favor of one the heirs, the institution might well require a copy... Read more »
I am looking to clear past cebt. I have no assets. I do have a car that is paid off.
Practically speaking, you have two choices (assuming you meet the eligibility criteria for each)- a Chapter 7 (liquidation) or a Chapter 13 (wage-earners plan). A primary purpose for the Ch. 13 is to "save the house", amongst other assets. From the little info you offer, probably a Ch.... Read more »
my son makes enough money to get us a place was wondering if he could do that with my not so good credit history .
From the reports I've seen recently, although interest rates are near record lows, the banks and other mortgage funding sources have been tightening credit, raising the minimum credit scores needed to qualify for a mortgage loan.
Probably, from what you say, your credit score is below... Read more »
They put the house in kids name in 2017 the kids did not know it till they got foreclose notices also bank told 1 of the kids the bought if for a dollar however the kids never gave any money 4 house
Pennsylvania, like most states, has laws of "succession", otherwise known as intestacy statutes, and under those laws, if a person dies without a will, the children of the deceased, and a surviving spouse, are the primary beneficiaries and will accede to the deceased property.
The... Read more »
Most HOA's ownership interests are linked to periodic "maintenance fees", for ongoing maintenance of common areas, and if not promptly paid, become a lien, like your Mortgage, against your ownership interest. Once a bankruptcy is filed, the HOA indebtedness will most probably be... Read more »
We paid back our creditors 100% and we are no longer making plan payments as of April 24, 2020. A Certification of Discharge Eligibility wasn't submitted until June 4th, 2020. Then my attorney submitted an final application of compensation on June 24th, 2020. That hearing won't take... Read more »
The law field, like every other business, has been impacted by the coronavirus pandemic, and delays are the result. I'm not sure that the court personnel can do much working at home, and the same is true of the Ch. 13 Trustee's people.
I doubt that your attorney's fee... Read more »
I checked my business credit recently and see there is a home equity line of credit, and auto loan and a bankruptcy, I didnt do any of this. and I have not been in business with this person for more that 8 years.
Assuming you mean old business partner, when you parted ways, that event triggers a "dissolution of the partnership", which has ramifications, but you needed to tie off the loose ends as well, e.g., notify your lender of the dissolution of the partnership, and terminate/wrap up any live... Read more »
they are threatening legal action, how can we be responsible when we don't own the house anymore. Also The bank was notified that we did move out
Just because you've moved out/abandoned the property doesn't automatically equate to someone else taking title to the property. The township, and other providers of utilities, hold the record title owner responsible for their respective charges. The bankruptcy, if it was a Ch. 7 case,... Read more »
will my interest ever go down? it seems each time the mortgage sells my loan. the mortgage goes back to default Like I'm paying a brand new loan? the loan/debt was discharged. my credit no longer reports the bankruptcy.
It's common for Mortgage lenders, and their "loan servicers", to transfer their mortgage loans to new entities, but such transfers do not alter the terms of your Note and Mortgage.
However, you don't provide enough information to give you an answer to your issues. To do... Read more »
I'm separated from my wife and we're planning to get divorced.
I also have $70k in credit card debt and am planning to file for chapter 7 bankruptcy soon.
All of the debt is in my name not hers.
Would it be more advantageous to go through the bankruptcy before... Read more »
Financial obligations imposed during a divorce that are for "support" (alimony may be support alimony, and of course, child support) are not dischargeable in bankruptcy. However, "alimony in lieu of " property division, or in the nature of property division, IS a dischargeable... Read more »
They live in PA.
If your parents are currently in a pending (not yet closed) bankruptcy case, none of their creditors can proceed against them, or their estates, without first procuring relief from the automatic stay in bankruptcy.
If your parents are in a Chapter 7 bankruptcy and have defaulted in mortgage... Read more »
If you are in a Chapter 7 bankruptcy, there is nothing more you need to do, other than complete the second credit management course and file the Certificate of completion with the court.
If you are a Chapter 13 case, and you are required to make plan payments to the Chapter 13 trustee,... Read more »
I'm going to be declaring Chapter 7 bankruptcy what will happen to that old LLC
You again?!! Lol
The ownership interest (your shares of stock, etc.) in the LLC will become property of the bankruptcy estate, over which the bankruptcy trustee has possession and control. If there is no value in the LLC that can be sold/turned into money, the trustee will abandon that... Read more »
and I'm going to be declaring Chapter 7 bankruptcy will this effect of my bankruptcy
The simple answer is that all of your assets, including your shares of stock/ownership interest in the LLC, will become assets of the bankruptcy "estate" which is created when you file for bankruptcy relief. The Chapter 7 Trustee then "steps into your shoes" with respect to... Read more »
We had followed the lawyers instructions to the letter and thought everything was finalized 5 years ago. Just found out Discharge never happened. Now lawyer says we need to pay court fee to reopen to file for discharge and he won't charge lawyer fee so long as he doesn't have to attend... Read more »
It is considered "best practice" for debtor's counsel to keep every client, including bankruptcy debtors, apprised of developments or needed filings in a case.
If you filed your bankruptcy case 5 years ago, and it is a Chapter 13 case, then you may be permitted to reopen... Read more »
I'm sole heir by will, last lender died (my mother). Fiancee and I have been living with her as caretakers (she had alzheimers) and currently reside in the home as our residence, with nowhere else to go. Possible at ALL to save the home? Have a student loan and make maybe 16,000 or so a year... Read more »
I assume you mean that your mother was the borrower on the Note and Mortgage, that either her will named you as sole heir to the house, or if no will, that you are an only child.
Yes, it is possible to save the house, but more of your financial facts are needed, as well as a real appraisal... Read more »
This is specifically for the Philadelphia sheriff sales, tax liens as opposed to mortgage foreclosures. Can the homeowner sell the property before it goes to the auction.
Your legal obligation is the standard real estate sales contract is to deliver clear title (free of liens, encumbrances, and title defects) at the closing/settlement of the sale. The taxes will be paid by the escrow agent at time of settlement, so that the property is delivered to buyer free of... Read more »
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