If I file Bankruptcy, can I keep my house or my car?
Michael J. Pledger: Austin Lawyer, Filing Bankruptcy, Bankru...Usually the answer is yes, but the law is complex and each person's circumstances require careful examination. Whether you will be able to keep your property is a question that can only be answered by experienced counsel reviewing the facts of your particular situation, including the amount of equity in your property, your payment record, and other important factors.
Related QuestionsCan I keep my house if I file bankruptcy?
Leinart Law FirmIn a Chapter 7, if you are current on the mortgage payment you will continue making your payments as usual. If you are behind on your mortgage payments, filing Chapter 13 will allow you to keep your home. You will resume making the regular payment and you will be able to catch up the mortgage payments by placing the past due amount in your Chapter 13 payment plan.
Related QuestionsShould I file for bankruptcy to save my house?
MPZ Loss Mitigation SpecialistsMaybe. The American Bar Association has reported that 96% of homeowners who declare bankruptcy end up loosing their home to foreclosure anyway. Bankruptcy is very unlikely to help you save your home. If you declare bankruptcy you will likely end up with BOTH a bankruptcy and a foreclosure on your credit report. That being said, there certainly are times when bankruptcy is appropriate and we recommend you consult a reputable attorney should you think you need it. No.
Related QuestionsWill I loose my house if I file for bankruptcy?
Law Offices of Janice M. Palmer, P.C.Not necessarily. If you are current in your house payments, you need not lose your house in a Chapter 7 Bankruptcy. If you are contemplating bankruptcy filing, you need to tell the attorney if you are behind in the payments as it is important information to the attorney.
Related QuestionsHow do I file for bankruptcy? Is there a charge?
Federal Judiciary Frequently Asked QuestionsA bankruptcy case is commenced by the filing of a petition. You must also file a statement of your assets and liabilities, and schedules listing your creditors. If you choose to file a bankruptcy petition without the assistance of an attorney, you can obtain the required forms at most stationery stores or at www.uscourts.gov/bkforms/index.html. There is a range of filing fees for bankruptcy cases, depending on the chapter of the bankruptcy code under which you file.
Related QuestionsReturn to top 4. Who can file bankruptcy?
U.S. Bankruptcy Court - District of Colorado - FAQsA person, partnership, corporation, or business trust may file a bankruptcy case. Corporations, partnerships and business trusts cannot proceed if they are not represented by an attorney. Only an individual can proceed without an attorney. However, the bankruptcy process is extremely complex, and individuals are strongly encouraged to seek competent bankruptcy counsel. If a person or the entity who owes the money, called the debtor, starts the bankruptcy, it is called a voluntary bankruptcy.
Related QuestionsCan I still get a house if I filed for bankruptcy?
Frequently Asked QuestionsThere are all kinds of loans for all different levels of credit, some lenders provide up to 100% financing. You should discuss financing questions with a qualified representative from one of our financing referrals. Bargain Network members may access these referrals by clicking on "FINANCE" and then clicking on the appropriate icon. Currently, Bargain Network does not ship to these areas. You must have an address of a U.S. household a U.S. Post Office Box, or a legitimate Military address.
Related QuestionsCan I keep my house after bankruptcy?
Bankruptcy FAQ | Mortgage KnowledgebaseDepending upon which exemption scheme is selected and your circumstances, you may exempt up to $100,000 in equityi. When calculating your equity you should use a value that is based upon a forced liquidation as opposed to the best selling conditions to arrive at a value for your home. Once you know the value, subtract the amount owed plus selling and transfer costs from the value to calculate the equity.
Related QuestionsWill I be able to rent an apartment or house after I file for bankruptcy?
James Patrick Brady: Houston Bankruptcy Attorney, Bill Colle...A landlord can legally refuse to rent you an apartment because of a prior bankruptcy in your credit report. However, if you are presently renting a home or an apartment, your present landlord will typically renew your lease without running an updated credit report, and will probably not know that you filed for bankruptcy.
Related QuestionsVanden Bos & Chapman: Portland Bankruptcy Attorney, Foreclos...Yes. Most people have little trouble. A landlord can legally refuse to rent you an apartment because of a prior bankruptcy in your credit report. However, if you are presently renting a home or an apartment, your present landlord will typically renew your lease without running an updated credit report, and will probably not know that you filed a bankruptcy. If you are applying for a new lease, you may encounter some difficulties that can be overcome.Related Questions
If I file bankruptcy, will I lose my house, car or other possessions?
Barry Evan Schklair - Law FirmIf you file the correct type of bankruptcy for your situation the proceeding not only reduces or eliminates debt but preserves and protects your property and possessions. If you are behind in payments on a mortgage or auto loan you may need to utilize Chapter 13 to protect your property. The type of possession and its value are important factors. You are entitled to claim certain exemptions which protect many types of property from being reached by creditors or by the bankruptcy trustee.
Related QuestionsCan I file bankruptcy without an attorney?
FAQ (ASP)Current law permits individuals to file their own cases and to represent their own interests in bankruptcy proceedings. However, it may not be wise for you to do so. Any bankruptcy case can become a complicated matter requiring both knowledge of the law and experience before the court to successfully complete.
Related QuestionsWhat happens after I file bankruptcy?
FAQ (ASP)Upon filing the original petition with the Clerk's Office, the "automatic stay" immediately takes effect and prohibits all creditors from taking certain collection actions against the debtor or the debtor's property. Although the stay is automatic, creditors need to be advised of the stay.
Related QuestionsWill I have to file bankruptcy?
Consumer Credit Counseling Service of Linn and Benton County...We will help you analyze your situation. It will be up to you to decide if you want to consult an attorney. Many attorneys suggest an appointment with us to see if there is another workable solution before you file a bankruptcy. If you elect to file bankruptcy, you will need to receive a pre-filing counseling session from an agency such as CCCS.
Related QuestionsCAN I FILE MY OWN BANKRUPTCY?
The Bankruptcy and Financial CenterAny individual can file their own bankruptcy proceeding. This is called filing in pro per. If a person wishes to spend enough time learning about this area of the law, they can probably get through a simple bankruptcy filing. However, individuals with assets or problem debts are foolish to try to go it alone as they will most certainly harm themselves financially as a result.
Related QuestionsGarretson Law Office FAQAre you behind on your bills, are bill collectors calling? Is your paycheck not covering all of your bills? If your answer is yes to any of these question you should seriously consider filing for Bankruptcy as soon as possible.Related Questions
Fresh Start Colorado | Charles Lilley & Associates P.C. ...Filing bankruptcy is a serious step, not to be taken lightly. For instance, if debtors owe only a small amount to a few creditors, it might make more sense to pay them through a credit counseling service. Bankruptcy might be necessary however, under certain situations:Related Questions
A Great Way To Invest . com Diamond Bay Ready to Invest ? De...In the paperwork signed by the borrower there is a statement regarding bankruptcy. This form has been successfully used in the past to have property removed from bankruptcy process to allow us to foreclose. On such short-tenn loans it would be looked upon as fraud to get a loan and then file bankruptcy.Related Questions
Sacramento Bankruptcy Frequently Asked Questions, Sacramento...There is never a quick answer to this question. Generally, if you can pay off your debts within three to five years then filing for bankruptcy is not a good idea. If this is not possible, then filing may be a viable solution to eliminate your financial obligations. However, before filing for bankruptcy, it is advisable to explore alternative routes. In some circumstances, creditors may be willing to work out repayment plans or lower their interest rates.Related Questions
Bankruptcy Trustees and Credit CounselorsTo file for bankruptcy you will need the services of a Trustee. We provide a free initial consultation. We will review your financial situation and discuss all of your options. If you decide that bankruptcy is the best option, we will prepare the documents and file the bankruptcy.Related Questions
Bankruptcy Lawyer Directory, Attorneys, Lawyers, Law FirmsThere is never a quick answer to this question. Generally, if you can pay off your debts within three to five years then filing for bankruptcy is not a good idea. If this is not possible, then filing may be a viable solution to eliminate your financial obligations. However, before filing for bankruptcy, it is advisable to explore alternative routes. In some circumstances, creditors may be willing to work out repayment plans or lower their interest rates.Related Questions
Credit Repair and Credit Restoration - America's Credit Doct...Before even thinking about bankruptcy, talk to us first! Many of our clients have been able to avoid bankruptcy all together because they came to America's Credit Doctor.com first. Many times, we have been able to explain how to settle debtsA specified sum of money that is legally owed from one to another. and reduce the total amount owed so that our client has a much easier obligation to overcome avoiding bankruptcy.Related Questions
Bankruptcies are filed in federal court. Bankruptcy forms are not provided by the court, but may be purchased from stationery stores. Please note that some school loans, some credit card debts and some taxes and other types of debt are not dischargeable in bankruptcy. An attorney is not required to file bankruptcy unless a corporation is involved. The bankruptcy court is open to the public Monday - Friday 9:00 am to 4:30 pm only. Their address is 605 W. 4th Avenue, Anchorage, AK 99501.Related Questions
