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Is it legal to borrow from 401k before chapter 7 bankruptcy is discharged?
Wiki User
∙ 13y ago
Yes, but it is one of the absolute stupidest things financially you can do.
By the end of th BK you will lose the 401k money, which is only protected while it is IN the 401k, and be left with the debt to the plan, which won't be discharged and will seize the money in the plan to be paid.
Wiki User
∙ 13y ago
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Can you get a loan after bankruptcy in Canada?
After filing for bankruptcy in Canada you may borrow money. The risk is borne by the creditor. During bankruptcy, after filing but prior to being discharged, you may obtain credit with a value of up to $1,000. without advising the creditor of your bankruptcy. Should you seek to borrow more than $1,000 you are obliged to advise the lender that you have filed for bankruptcy.
Should wife be placed on deed before filing chapter 13 bankruptcy?
You will need to discuss this thoroughly with an experienced bankruptcy lawyer. Mortgages usually do not allow a change in title without the consent of the mortgage holder, and it can trigger acceleration of the mortgage and require immediate poayment of the whole balance due. If the wife has good credit and the mortgage is in trouble, it may affect her ability to borrow after the bankruptcy, so don't do it.
How does bankruptcy afact your credit?
you will pay high interest rates when you borrow money
Can you borrow against your home equity after chapter 7 bankruptsy discharge?
yeah
What are the effects of personal bankruptcy?
The bankruptcy proceedings remain on your credit record for 10 years. During this period, it is very difficult to reestablish credit and borrow funds for items such as a new car or home.
What are the negative effects of personal bankruptcy?
The bankruptcy proceedings remain on your credit record for 10 years. During this period, it is very difficult to reestablish credit and borrow funds for items such as a new car or home.
What is the bankruptcy law that realigns auto loans to the true value of the car?
AnswerNot sure, but you didn't borrow the car, you borrowed the money. Answer:The law you are referring to is in regards to a Chapter 13 bankruptcy. If you have had the vehicle for a number of years and if you owe more than the car is worth, you can arrange to pay the present value of the car rather than the amount of the contract. over a time period of the chapter 13 plan. In a chapter 7 you can redeem the car and pay the full amount of what the car is worth rater than what you owe, but you are not entitled to an installment redemption, so usually this is not a realistic option.
Can you refinance your mortgage during bankrupcty?
No, you can't borrow any more $$$$ while you are in bankruptcy. Even on an existing loan. It is against the law.
Where can you read chapter 2 of eclipse online?
no you can't. you'll have to buy the book or borrow it from someone.
Before the children begin the snowman what do they borrow from miss Maudie?
Before building the snowman, the children borrow Miss Maudie's hedgerow clippers to help with shaping the snow.
After 7 years of filing Chapter 7 bankruptcy can a bank tell you that they won't pre-approve a mortgage unless you pay them the losses they had with the debt of your card during Chapter 7?
Yes, they can do that. The bank is asking for money that was discharged in the BK. The bank can always ask, but cannot force you, to pay back that money. So if you want a pre-approved mortgage with this particular bank, the back can ask that you pay the money form the BK. Your best bet would be to look for another bank. Hey wacko.....any lender can refuse to give you credit. It is not your right to borrow money. It is your responsibility to earn up to your obligations, like paying people back the money they loaned you. Oh...bankruptcy is on your credit report for 10 years...but you knew that because you have at least 1 iota of intelligence about financial things. Lend YOU money? Not on your life! Certainly not on mine.
Have a 1997 Chev Silverado PU TRuck, free and clear. Need to borrow$3300 or $5,300. Have a bankruptcy filed in March 2005, discharged May 2005. Who can help me with the loan on the truck ?
I would check with the banks you already do business with, first: They know who you are, and are familiar with your situation. They can help you re-establish your credit. Most banks require titled-security or a qualified co-signer, after discharging a bankruptcy, and since you have the truck paid off, I would think it shouldn't be too hard to get a loan! Good Luck !
