Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
When one files for bankruptcy, that person knows or should know, that the court will be looking at the debtor’s life very closely and the debtor’s bills and payment records even closer.
Yes … if the bank holding the account allows it. When a person files for bankruptcy, depending on the type of bankruptcy filed, all loan and credit collections must stop. All bank
Your well-paid lawyer is the initial source of information here. In a Chapter 7 bankruptcy, the trustee is the second source of information. That lacking, one can always go back to the
This question raised a lot of conflicting information from online contributors. A “pre-petition” debt existed before the bankruptcy, by definition. Research identified that only “pre-petition” debt can be discharged in a bankruptcy.
The shortest answer to this question is “Yes”. As usual, a debtor must present a case and then be approved by the courts for bankruptcy. The presenting of the case is not
A number of different sites and many (unfortunately) experienced contributors provide a rather solid view of getting to the point of a default judgment, what you can do at the hearing on
In general, “yes”, a financial institution holding a mortgage can sue for full repayment of the loan amount outstanding on a mortgage where the debtor has defaulted. When a house is foreclosed,
First, find out from the bankruptcy trustee if your savings account was on the list of seized assets that are to be liquidated to satisfy the creditors under your bankruptcy ruling. If
This is a very difficult concept for many people to understand. Several lawyer site profess having trouble getting clients to see the difference between a debt and its lien on an asset.
First, seriously consider hiring a lawyer who knows the foreclosure and multi-mortgage law in the state of Colorado (or, your particular state). Each state varies in some way. Next, in a foreclosure,
The repossession laws for bankruptcy involving a car will differ due to the type of bankruptcy and depending on the value of the car. With a Chapter 7 bankruptcy, non-exempt assets, like
By definition, bankrupt means: An entity judged by a court to be unable to pay its debts, whose property is taken and disposed of for the benefit of creditors. A lot of
There is a lot of information on this. US Code 38&5301(a) state that VA Disability is not considered income. Bankruptcy Code (BC) 11 USC 522 (d)(10)(b) states that VA Disability is exempt
Ignoring the bankruptcy for a moment, on just the short sale impact, the very short answer is that it is very likely, as it is well documented, that one must wait at