0
Add your answer:
Earn +20 pts
Can a timeshare be discharged in ch 7?
A timeshare is an asset, not a debt. It cannot be discharged. If you are in arrears in your timeshare payments, like being in arrears on a mortgage, you would be able to surrender the timeshare and discharge the arrears.
Which of the following that’s because possibly be forgiven under Chapter 7 bankruptcyalimony, a mortgage, a student loan, child support?
A mortgage(Apex)
Can you lose your house if you file for a chapter 7?
Yes, if your equity in the house is greater than the exemption you can use and you cannot pay the trustee the difference, or if there is no mortgage on the house and its value is more than the exemptions. If you are current with your mortgage when you file and get behind on your mortgage during the chapter 7, the mortgagee can foreclose. Consult a local bankruptcy lawyer.
Would you be asked to put a mortgage on your house to pay your bills if you file for chapter 7 bankruptcy?
No. But if you have equity in your home it may not be the best approach. A chapter 13 is designed for a situation where the person has equity or is behind on payments. In a Chapter 7 - You will be asked to pay the Trustee the value of the equity of your home... so if you have $15,000 in non-exempt equity, you'll most likely have to write a check to the Trustee for $15,000 or surrender the home. no ,but if you include the Mortgage on your property in your bankruptcy,most likely you will have to surrender the property to a court appointed trustee
If you have a second mortgage and filed chapter 7 what is your obligation to the second mortgage?
If you don't pay the 2nd mortgage the lender will take the house. It is a secured loan so, meaning that they get something in return for lending you the money. If you don't pay back the money, they get the house.
Do you have to pay off mortgage arrears prior to chapter 7 filing?
no
Can you obtain a mortgage after filing Chapter 7 if you just filed chapter 7 in December 2005 and are moving and your wife has good credit and can you both be put on the mortgage?
yes you can !i know from experience that you can the day you leave the courthouse!!!!!!
Can a timeshare be discharged in ch 7?
A timeshare is an asset, not a debt. It cannot be discharged. If you are in arrears in your timeshare payments, like being in arrears on a mortgage, you would be able to surrender the timeshare and discharge the arrears.
You did not reafirm your mortgage after filing chapter 7 how do you keep your house?
You had to sign and file a "statement of Intention" indicating if you were surrendering the house or reaffirming the debt. If the mortgage company did not send you a reaffirmation agreement, or your lawyer did not prepare one, you should still be able to keep the house, assuming you have continued to make the mortgage payments. If you did not, and are seriously in arrears, you will have to see if a chapter 13 is possible. See a knowledgeable bankruptcy lawyer.
Can you file bankruptcy on your house after chapter 7 discharge?
Your mortgage should have been included in your chapter 7 discharge. If it was- then you are no longer liable for the mortgage, but the lender can still foreclose on the property. If the mortgage was not included- then why wasnt it included.
Do you have to pay creditors after you refinanced your mortgage chapter 7?
yes
Mortgage lates after filing chapter 7 Can a mortgage company report lates after filing of a chapter 7 and before a discharge?
Yes. That reporting to a credit agency of an item of fact, is not an attempt to collect the debt. Your not expecting you mortgage debt to be discharged are you?
Will filing chapter 7 save a home?
No. You still have to pay the mortgage.
Can you convert your Chapter 13 to a 7 clear out all your debt and how soon after can you refile Chapter 13 to save my house?
Yes you can convert from a 13 to a 7. The time between a 7 and a 13 is 4 years from date of filings. You can try to file a 13 soon after a 13 discharge, but unless you are able to keep making mortgage payments AND pay back all mortgage arrears within 5 years, you will not be able to save the home, and a creditor would be able to get relief of stay and copntinue any foreclosure process.
Do you have too pay any of the mortgage back after a chapter 7 bankruptcy?
no you dont have to
What chapter should you file if you are behind on your mortgage?
only in chapter 13, you cannot use chapter 7 to catch up on past payments.
Which of the following that’s because possibly be forgiven under Chapter 7 bankruptcyalimony, a mortgage, a student loan, child support?
A mortgage(Apex)
