0
Add your answer:
Earn +20 pts
Can you get a car loan with an open chapter 13 bankruptcy?
AnswerPerhaps, but the terms will not be favorable, most especially the rate of interest. It is also a requirement when in a Chapter 13 repayment bankruptcy, that all major financial transactions have the apporval of the bankrutpcy trustee.
Can you leave a chapter 13 bankruptcy open and refinance your current mortgage if the mortgage is not included in the chapter 13?
Here is the short answer.........No. No lender will allow this. Lenders want you to be out of Bankruptcy.This is what I do refinance people out of bankruptcy early or arrange refinancing so that my clients can avoid bankruptcy or forclosure altogether. that is what you must do in order to refi your mortgage regardless of the mortgage status with your bankruptcy plan
Can you open a savings account while in chapter 13?
yes you can open a savings and a checking both
Can you leave a chapter 13 bankruptcy open and refinance your current mortgage if the mortgage?
This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.
Can you cash out refinance after bankruptcy?
The answer to this question depends on the policies of the individual lender and the type and status of the bankruptcy. The majority of lenders want 24 months to have passed from the date of discharge of the bankruptcy before they will consider any mortgage loan. A chapter 7 BK is generally judged more harshly than a chapter 13. What some bankrupty filers forget is that their credit performance after the BK will be very important. New credit must be established in moderation with account open dates after the BK, with low use of credit cards and excellent repayment history.
Can you get a personal loan with an open chapter 7 bankruptcy?
maybe
Can you lease a car in an open chapter 13 bankruptcy plan?
Yes
Can they repo your car if there is a open chapter 7 bankruptcy?
NO collection activity may occur legally during bankruptcy proceedings.
Difference of chapter 11 and chapter 7?
In chapter 11 bankruptcy, a business (usually) is trying to stay open by modifying its debts and getting rid of some. In a chapter 7 bankruptcy, a business is liquidating itself and usually has to shut down as a result.
Can you lease in an open chapter 13?
Yes, you may be able to lease in an open Chapter 13 bankruptcy, but you may need to seek approval from the bankruptcy court or trustee. Any new financial commitments should be made with caution and in compliance with your bankruptcy requirements. It's advisable to consult with your bankruptcy attorney before entering into any new lease agreements.
Will lenders work with you if you have an open bankruptcy but have obtained a Letter to Incur Debt from the judge?
Highly unlikely that someone would lend you money having an open bankruptcy.
Can you get a car loan with an open chapter 13 bankruptcy?
AnswerPerhaps, but the terms will not be favorable, most especially the rate of interest. It is also a requirement when in a Chapter 13 repayment bankruptcy, that all major financial transactions have the apporval of the bankrutpcy trustee.
Is it safe to rent to someone in an open chapter 13 bankruptcy?
What do you mean by "safe"? The rental agreement or lease will not be affected by the Chapter 13, but you as a prospective landlord should make sure the rent amount is in the plan or is supported by the debtor's current income, which would have to be more than the original income. Many Chapter 13s crash in the first year, or before they are completed, and are converted to Chapter 7s. Check with the trustee or check the docket in the bankruptcy court to see if there have been problems.
Can you leave a chapter 13 bankruptcy open and refinance your current mortgage if the mortgage is not included in the chapter 13?
Here is the short answer.........No. No lender will allow this. Lenders want you to be out of Bankruptcy.This is what I do refinance people out of bankruptcy early or arrange refinancing so that my clients can avoid bankruptcy or forclosure altogether. that is what you must do in order to refi your mortgage regardless of the mortgage status with your bankruptcy plan
How do you stop a civil suit that was left out of my chapter 7 bankruptcy?
You can re-open your chapter 7 and amend the relevant documents. Some bankruptcy districts still maintain that unsecured debts not omitted for fraud or other illegal purpose are discharged even though not listed. Check with a local bankruptcy lawyer for your court's practice.
Can you file a chapter 7 after a chapter 13?
Believe it or not, the ploy is called a Chapter 20! A so-called "Chapter 20" bankruptcy is the process filing of a "Chapter 7" bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments. The 2005 Bankruptcy Reform Act attempts to limit "Chapter 20" bankruptcies by imposing limits on the filing of successive bankruptcies. Under current bankrupcy law a Chapter 13 bankruptcy may be filed only once every two years, and three years must pass after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors attempt to circumvent this restriction by filing for Chapter 13 protection while the Chapter 7 petition is still pending. That option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should be aware that missing even one mortgage payment after filing the initial "Chapter 7" petition may cost them their ability to save their home in a subsequent "Chapter 13" filing.
In chapter 13 bankruptcy what does pending mean in case status?
In Chapter 13 bankruptcy a pending status means the case is still open for evaluation and no decision has been made. The pending status may last for awhile depending on how involved the case is until it is final.
