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Not usually, you will have to file exempt on items that are owned.
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∙ 14y ago
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Will the bankruptcy court take a lawsuite settlement?
The bankruptcy court will deal with ALL your assets.
Can you just declare bankruptcy on your home?
No. You do not "declare bankruptcy" ON anything. You declare bankruptcy when you cannot pay your bills as they come due. You must list all your assets and all your debts. What happens after that depends on which title you are filing under, chapter 7, 11, 12 or 13.
If you filed bankruptcy and one of the creditors had a lien on a car do you get the title back after the bankruptcy is final?
It really depends on the type of bankruptcy petition you file. If you file for Chapter 7 bankruptcy the creditor who put the lien on your car may be able to take your vehicle. If you file for Chapter 13 bankruptcy you'll have the opportunity to make payment arrangements with your creditor and in that case you should get the title back after all of your payments are made and your amended. contract with the creditor has been fulfilled.
Who much of your tax return can the bankruptcy trustee take?
If it has not been exempted, all of it.
How can bankruptcy help stop a foreclosure?
Filing for Chapter 7 bankruptcy forces all of your creditors to stop harassing you, as all proceedings are temporary put to a halt while the bankruptcy is processed. However, you typically have to take the initiative and show proof of your bankruptcy to the bank for them to stop harassing you.
Can they take your car through a bankruptcy when you still owe on the car?
Bankruptcy covers all you property and all your debt. Some places allow 1 car as exempt from the sale of property, but not all. You need to check your local rules and ask it be exempt at your bankruptcy hearing.
When you file for bankruptcy does someone come to your house to list all your assets and take all the things you did not list as exempt?
Actually, the laws have changed a bit since the 2005 Bankruptcy law was signed. Instead of the "yard sale" way of valuing your assets, you now have to value your assets at the amount it would cost to replace them today with items in exactly the same condition. For more information, see Findlaw's excellent sections on bankruptcy and the changes from the 2005 law. http://bankruptcy.findlaw.com/bankruptcy/bankruptcy-basics/bankruptcy-overview-overview(3).html#8B5C102F-3D8A-4836-A2A3D553A00E015E
Can one sell property after the trustee has indicated what assets must be liquidated?
If you are in the midst of a bankruptcy proceeding the title to all your property is in the trustee. You can't sell any property. You should direct any questions to your attorney or to the trustee in bankruptcy.
If you filed chapter 13 bankruptcy will the trustee take your tax refund?
Yes. For 3 years. They do not take it all. You will get to keep your EIC and certain other credits that may be given that year. This is per my bankruptcy lawyer.
Can you sell something that was on a credit card after filing bankruptcy on that card?
After all the legal stuff is over do a title search on the bike if there is no lien on the bike it is yours to sell.
Will the bankruptcy trustee take all of your tax return refund?
I think it depends on when the bankruptcy is discharged, but it would be discussed at your meeting with the creditors and the trustee. If it wasn't discussed, then the refund is yours.
How does one refinance a home after a Chapter 13 bankruptcy?
One can find a guide on how to refinance a home after a Chapter 13 bankruptcy on various websites like Homeguides and wikiHow. Both websites offer a great amount of information about all kinds of things, including bankruptcy.
