Timothy Denison's answer This is such a complex question with so many variables that it is impossible to properly answer here. It depends on whose name and how assets and liabilities are held as to what the proper action. Each can file separately if necessary, but generally speaking both parties are best served by filing a joint bankruptcy before the divorce. You need to get you parents to a competent bankruptcy attorney who can completely analyze their financial situation and advise them what to do and how and when...
Timothy Denison's answer You will have to list all your debts and creditors if you file bankruptcy, whether it is a 7 or 13. You may want to consider 13 if you have assets to preserve or 7 if you don’t, but you must list all your debts and creditors in your petition.
Timothy Denison's answer If it was repossessed in violation of the stay, you can get it back by filing a motion. If it was reaffirmed and approved, you will likely have to pay the arrearage owed to get the car back.
Timothy Denison's answer Yes. It can be reopened and filed. Whether it is in your best interests is another issue. You will probably have to pay the reopening fee to get it filed. I doubt the attorney will pay it although you can always ask.
Cary Nathan's answer There is no such thing as "too late" under the bankruptcy code. Sometimes you will hear people use this terminology after a home has been foreclosed on or a vehicle repossessed because, at that point, it is too late for the bankruptcy stay to stop the secured creditor from taking the property. If this example covers your particular situation, then you have your answer. Otherwise there is no way to answer your question without more specific details.
David Adams' answer A 401(k) and a 401(k) loan are really not affected by a ch 7 bankruptcy. The funds are exempt and not subject to being lost to the bankruptcy court, and the loan is secured and not really affected by the bankruptcy either, as any failure to pay would still allow the retirement funds to be offset to pay off the loan.
Theodore Allan Greene's answer Some people make payment plans. Like $100 per month until the balance is paid. Others have a family member make the payments. Others stop paying their debts (credit cards) and that frees up some money. Others still use a legal document preparer which is the WORST option as far as I'm concerned. They can't give legal advice and do NOT go to court with you. I have seen some poor folks in court about to lose the equity in their house because they used a document preparer who was no where to be...
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