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Is western progressive llc a trustee for hsbc bank?
They are a trustee for many banks. As trustee they act as a disinterested third party until you default on your loan
Can you take a loan from a trust account?
It depends on the terms of the trust. If the terms permit it, and the trustee agrees, yes. If not, and/or the trustee does not agree, then no.
Can one trustee get a loan on property in trust without the signature of the other trustee's knowledge?
bank mortgage was never recorded with the county. what happens
What is the purpose of 'trust deeds'?
The purpose of trust deeds is to provide security for a loan by establishing a legal framework for the repayment of the loan. Trust deeds outline the terms and conditions of the loan, including the repayment schedule, interest rate, and consequences for default. They also allow the lender (trustee) to take ownership of the property if the borrower fails to repay the loan as agreed.
Can a trustee get a loan on the property held in trust to pay off heirs?
Trustee is not the owner of the property and hence he will have no right to sell the property held under trust.
Substitution of trustee and full reconveyance?
I live in California, already paid off the loan of my house & got a letter "Substitution of Trustee & Full Reconveyance". Why did I get this letter?
Can you have a cosigner on a car loan while in the last few months of bankruptcy?
When participating in a Chapter 13 BK repayment all major financial transactions must have the approval of the bankruptcy trustee. If the person does not clear the action with the trustee the "13" can be dismissed with prejudice.
Who specializes in refinancing loans while in chapter 13?
Nobody. You can only get a loan in c. 13 if it is approved by the trustee and the court. You will have to show why it is needed and how it will affect your plan. You may have to amend your plan. You have to present the trustee and the court with the proposed loan documents, which can be from any lender. Needless to say, these will be secured loans for the most part and will often replace an existing secured loan, for a car usually. Nobody. You can only get a loan in c. 13 if it is approved by the trustee and the court. You will have to show why it is needed and how it will affect your plan. You may have to amend your plan. You have to present the trustee and the court with the proposed loan documents, which can be from any lender. Needless to say, these will be secured loans for the most part and will often replace an existing secured loan, for a car usually.
Can a title loan be deducted in chapter 13 bankruptcy I have a title loan on my car and am filing chapter 13 - but the trustee is objecting based on re Ransom?
Sure the trustee is objecting. Because you are making payments on your car, Ransom v. America Bank, means the amount of money you would be required to pay would be less than if you did not have a title loan. The trustee wants you to pay off the loan before you declare bankruptcy.Update: I have not been making the payments - I thought the chapter 13 would be making the payments when I send the trustee my monthly payment. I supposed the questions is: is a title loan considered a secured loan.I would check the lending company to make sure they are getting the payment. I would not assume anything. I simply read Ransom. I do not trust trustees. If you walk in and pay the loan with a piece of paper and get a written receipt and send that receipt to the trustee and keep a copy, there can be no doubt. That way your car can not be repossessed and the trustee can not stab you in the back by not paying your loan. Then when your car is repossessed, he can not take the money that you would have used to repay your loan and have you use it to pay your other creditors.
Can you apply for a loan while in chapter 13 bankruptcy?
Not without permission from the bankruptcy trustee/court. Yes. But you will have to overcome a lot of obstacles in order to obtain one. Some lenders will approve a home loan if you are in Chapter 13 bankruptcy but only after you have paid consistently for one year and have a credit score of 620 or above. Lenders, as a rule, will not consider a loan until you have approval from the Bankruptcy Court. You will have to ask your bankruptcy trustee for approval to get the loan. This trustee will give you an amount you are allowed to finance. Unfortunately, the amount is usually low. Here is an example: Annual income: $100,000 All payments to Bankruptcy Court have been consistent for 2 years. Credit score: 630 Amount needed to finance home: $119,000 Bankruptcy Trustee Loan Approval Amount: $65,000 Although you may qualify to receive a loan in the amount of $119,000, the bankruptcy trustee will only allow you to finance up to $65,000. If you do not have $54,000 to make up the difference.....you will not be able to purchase the home. That being said, it's worth a try. So before you start looking at houses for sale, have your attorney request the bankruptcy trustee for loan approval and what amount. At least from there you will know where you stand.
Can one get a loan on property in a revocable trust?
The trustee holds the legal interest in the property according to the terms of the trust. The trustee may mortgage the property if that power was granted in the trust instrument.
Can you get a small personal loan from a bank or finance company while you are in a Chapter 13?
you have to get it approved through the trustee
