It depends. How much do you owe on the timeshare? Are you past due on any fees or maintenance fees? Do you have other debts? Bankruptcy can eliminate your debt and any debt or remaining loan balance you have on the timeshare. Bankruptcy allows you to surrender the timeshare back and walk away from...Read more »
Do you still own the property that the property taxes go to? If you no longer own the home then you can file bankruptcy on the property taxes but on the other hand if you own the home then the property tax is still owed.
If you still own the home then property tax is treated as having a...Read more »
Are balances being reported? If not, and the accounts say current is there a reason why you could not want that reported? Usually an account being reported as current is a good thing and helps your score.
Also, if at the time your filed bankruptcy those 3 accounts had zero balances then it...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.
I would also recommend to consult with a bankruptcy attorney so you know your options in case you need to file a bankruptcy. Chapter 13 bankruptcy allows one to protect high value assets while chapter 7 bankruptcy can be done for those who do not have many assets and who have low income. Whether...Read more »
Generally, a mortgage company does not have to report to the credit bureaus. However, just because it is not being reported does not mean you should discontinue your mortgage payments. If you want to keep your home then you should keep making your mortgage payments. Most mortgage companies will...Read more »
Are you currently in a bankruptcy case? Outside of bankruptcy, a creditor can levy a bank account. Once levied upon it is up to the judgment debtor to object and file the necessary paperwork to protect any kind of social security or retirement benefits. The court does not know what funds have been...Read more »
If you listed your creditors on your bankruptcy papers and they received notice of your bankruptcy, then they are prohibited from attaching a levy to your bank account to collect on a debt you had prior to the filing of bankruptcy.
The bankruptcy automatic stay is terminated upon your case...Read more »
My mother just passed away. She has a revocable trust, of which I am trustee/executor, state of AZ. She was in the process of filing bankruptcy but did not officially file with the court yet. What are my responsibilities as trustee? Do the beneficiaries have a right to the proceeds from the sale of... Read more »
I am truly sorry for your loss. Contact your mother's trust attorney asap as there are likely deadlines for notice requirements and other procedural deadlines. Since it sounds as though the trust was created in Arizona you should consult with an Arizona trust attorney. Each state has its own...Read more »
It really depends on the complexity of the case and the law firm involved. Each lawyer has a different hourly rate, which can also factor into the fee and whether it is reasonable. Did you ask your lawyer for a breakout of their fees? I suggest you ask your lawyer about this and at what rate they...Read more »
You should be ok with doing that (I am assuming you are in chapter 7 bankruptcy and that you used the appropriate bankruptcy exemptions and that you had available room under the exemptions to protect the funds). However, until the bankruptcy trustee files his or her report of non-distribution those...Read more »
My Ch. 13 was filed and approved in the summer of 2017, so I am halfway through it. If I get a raise or a better-paying job now, does whatever additional income I get just go to paying a higher amount each month to the plan? Will I have to file a new budget and get a new approval from the court?... Read more »
Generally, a debtor does have to report and update their bankruptcy papers if they start receiving more income. This increased income may or may not increase your plan payments. It may depend on the type of chapter 13 case you are in and if your expenses changed.
I understand all of what is needed for information on bankruptcy and the need for it with filing for involuntary lien removal. All I need is to find out what the average cost is to have it removed during the process of waiting for dismissal.
You may be able to hire a lawyer to remove it for you inside of bankruptcy. The cost is usually determined on a case by case basis which can range from $700 to $3,000. Alternatively, you can sometimes negotiate with the lien-holder to releasee the lien for a reasonable sum certain...Read more »
Some of your IRS debt may be dischargeable in bankruptcy. Other debts such as credit cards, personal loans, and medical bills are typically dischargeable. You can also keep your car in bankruptcy. If you lost income and are having trouble making payments then bankruptcy may be a...Read more »
It depends on your case but usually most recently filed tax returns, 60 days paystubs, retirement account statement, life insurance policy, vehicle payoff statement if financing, vehicle lease if leasing, and at least 1 month bank statements. However, this is not an inclusive list and each case is...Read more »
Bankruptcy could be a good choice. You also want to look at your annual income and property you own. If you do not own a house and make little income then a Chapter 7 Bankruptcy may be a good move for you. Chapter 7 Bankruptcy erases most of your debt in about 3-4 months. It is...Read more »
I have managed to get about 6 credit accounts back to a good, current status, but have about 7 getting worse everyday. Including two loans. They probably total about $25000 at the moment, and I am making about $700 a week and am not sure I can save everything. My credit has gone down to 500 and... Read more »
If you are drowning in debt and you have 7 credit accounts getting worse everyday then I would suggest looking into your bankruptcy options. Bankruptcy wipes out most debt and a lot of times bankruptcy allows the person to keep everything they own. Life after bankruptcy is possible and many people...Read more »
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