If you did not reaffirm the debt on your home, then you can surrender the property without penalty. This is simply because the debt was technically discharged in your bankruptcy case. You had the right to retain and pay until such time that you change your mind. You are off the hook as far as...Read more »
You can ask general questions regarding the assets and liabilities of the debtor. If you want to ask further questions, you can bring a motion for a 2004 examination. That is a separate examination which you conduct on the debtor.
No. They can only receive a deficiency judgment if you were actually served. By serving you by publication, they can only take an in rem judgment against the property. You are not going owe a deficiency if service was by publication only.
You can purchase property immediately after doing a short sale or a deed in lieu. If you are looking for financing, then you will have to wait at least one year, more commonly two years. It really depends upon your financial situation at the time that you apply for the loan.
No. The lender can repossess the vehicle if you fall behind on payments. The lender can act quickly or can decide to wait. You should not feel that you have cleared any hurdles simply because a year has passed since your discharge.
Your husband's bankruptcy filing will not affect your liability on joint debts. However, your credit report may mention that the co-debtor filed for bankruptcy on the account. If you continue to pay your obligations, the creditors will continue to accept your payments. However, if you had a...Read more »
You have two hurdles to get over to accomplish removing the lien. First, you must bring a motion to reopen your bankruptcy case and pay the filing fee to do so. Second, you must prove that the lien impairs an exemption. It also will depend upon what type of lien it is. If it is a judgment lien,...Read more »
To confirm that your mortgage was reaffirmed, you must check with the bankruptcy court to see if it was filed by the creditor. Simply agreeing to reaffirm or actually signing the agreement does not make it valid. It must be counter-signed by the lender and then timely filed with the court. I...Read more »
You do not have to be behind on your bills to file for bankruptcy. Many clients are current on all of their bills, however, they are struggling to survive month to month. Once you have made a decision to file, you should stop making payments on debts that are going to be eliminated.
You can certainly try to deal with the bank on your own. If you reach a point where you can no longer deal with it, then seek counsel to jump in an assist you. Often times, you can achieve a good result on your own.
It will depend upon the creditor and upon the type of property being surrendered. If the property is a home, then the foreclosure case must complete unless you sign a deed in lieu. If the property is a vehicle, then you can voluntarily return it or simply wait until discharge or modification of...Read more »
No, a list does not get sent out to banks who were not listed as creditors in your case. However, when you apply for a loan, the bank will likely inquire as to whether or not you have filed for bankruptcy relief. It will also appear on your credit report for up to 10 years.
I had a real estate business which was dissolved by the state. I had a business loan of $ 100,000 I filled for bankruptcy as a person and my debt was discharged. I still receive letters from the bank and from attorneys. Should I fill for bankruptcy or should I just apply for a voluntary dissolution... Read more »
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