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If your house is being foreclosed on, you need to file a chapter 13, with a plan for paying the secured debt arrears, including the mortgage(s) and have the income left over every month to pay the plan (and the trustee's percentage).
Wiki User
∙ 13y ago
Wiki User
∙ 12y agoYou declare when your debts become too overwhelming to ever pay off. But you must qualify first. The qualifications vary according to the chapter of bankruptcy you are filing under but major aspects are the monetary amount of your debt and your annual income.
Wiki User
∙ 8y agoThe first step in understanding financial distress is realizing that you are in financial trouble and need help. Contact a bankruptcy attorney in your area for a free initial consultation. First, bankruptcy can stop creditor harassment. Many creditors will call you all day, every day, any time of day. Bankruptcy provides a fresh financial start by making it illegal for creditors to contact you. This can be your first sigh of relief. Even once you have retained a bankruptcy attorney, you can tell creditors who contact you that you are in the process of filing bankruptcy, and they should direct the calls to your attorney's office.
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Claim bankruptcy of your car for dwi lost?
can file bankrupcy if i lose my car
Can you filing bankrupty after a car is repo?
Yes you can, However if you do file bankrupcy do not do it without a lawyer. In most cases if you do not file bankrupcy and the finance company( if you were financed) has already filled a garnishearment they will take you to court and you will have to make arrangements for they will retrive a small amount from your paycheck each time you get paid until they have retrived all of their money that you owe however if you loose your job or file bankrupcy they can not take any money from you.
Should you file for bankruptcy after your cars got repossessed you wont have any good credit for the next 10 yrs anyway?
Bankrupcy laws have changed, creditors now have more ways to get your money even if you file bankrupcy. People must become more accountable for the debts now, bankrupcy is no longer a way out of debt. You should go to a credit councelor and start working things out.
You applied for bankruptcy in December 2007 you have recently applied for a loan and it seems to have been accepted Is it illegal for you to carry on with the application?
If your bankrupcy isn't complete, it would likely be a violation of the terms of your bankrupcy with the court. The court could then choose to deny your claim of bankrupcy. If your bankrupcy filing is totally complete, depending on the type of loan it is not unusual (except now with todays credit crisis) to be approved for a loan simply because the company approving the loan knows that you can not file for bankrupcy again for a relatively long period of time.
Do you have to pay IRS debt if you file Bankrupcy?
Yes. in fact it means the IRS can't negotiate a lower amount or payment plan with you
Can you purchase another car before you file bankruptcy on another car?
sure you can, but you will loose new car when u file bankruptcy anyway.also need more than just a car payment to file bankruptcy. laws have changed to prevent people filing bankrupcy just to dodge paying there bills
I am in debt with several small creditors and am on a fixed income I dont want to file for bankrupcy unless i have to then will loose everything What are my options?
If you are in debt with several creditors and don't want to file a bankruptcy you can try to get a consolidated credit repair company to help you to manage the debt.
Why does Adam's oppose the extension of british taxes on the colonies?
because the town meeting was on the verge of bankrupcy Adams was compelled to file suit agaist delinquent taxpayers but many taxes went uncollected
Is it legal to refinance a home in VA?
Yes. It is legal to refinance a home in VA. The purpose of refinancing is to repay your old loan with a new one. It might be a great idea for someone looking to file bankrupcy.
Is it true that you can file for bankruptcy again six years after your first filing?
Yes it's true. However with the new bankruptcy reform it will be more difficult for consumer's to file a chapter 7. If the debtor has even a small amount of nonexempt assets, they will be required to file a chapter 13 consolidation bankrupcy rather than a chapter 7.
What is potentially an extreme result of low production?
bankrupcy
When can you claim your pension?
if you claim bankrupcy can it effect your pension
