First is if you qualify for C-7 and not a required payment plan C-13.
Basically, bankruptcy uses all your assets to pay all your debts.
The loan and deficit is a debt.
It was secured by the car, which is an asset (you no longer have). You probably have others.
You MUST include all of your debts and all of your assets in the filing. You do not and cannot pick and chose what is involved. All are given priorities, some of each may be exempt from seizure or discharge.
You really arent' thinking BK will eliminate the obligation to pay and let you keep things you want for free were you? (Yes, after usable assets are dissolved/sold, remaining debt may be discharged....the idea being you have a clean slate).
You may, but it is highly unlikely. The fact that you filed BK has negatively affected your credit rating. The time to reaffirm is during the BK procedings. Afterward, the lender will treat you like any other prospective borrower, and that negative rating will be what they look at.
Only if the lender agrees to lower the amount due, remember that the BK discharged the promissory note; there is no legal mechanism to force the lender to lower the amount due (you are in a very weak bargaining position). If you dont make the full payments the lender is entitled to repossess the car.
No. Once they have it the only way to get it back is to either pay it off or catch up to the lienholder's satisfaction. Chapter 7, after the repo, will prevent them from collecting the balance.
No. Any debt owed PRIOR to the filing of the 13 is affected. However, any debt incurred AFTER The 13 was filed is not protected.
Actually you can get your vehicle back if you file bankruptcy within 10 days of your vehicle being repossessed. Your attorney can file an emergency injunction if needed.
No, they cannot come after the purchases. They can object to the discharge if you ran up your credit card balance before filing, and the purchases or cash advances were not for necessities.
What is Legal to file Chapter 13 on ?
Yes, If you are trying to get the vehicle back you can file a Chapter 13. but you have a very short window typically 10 Days to get filed to have much success of getting the vehicle back. Or you may need to file if your window has passed to protect yourself from future liability. The lender will sell the vehicle and if there is a deficient balance will pursuse you for collection of the remaining balance.
If it is a no-asset chapter 7, and the company is listed as a creditor with a balance reasonably close to the actual balance as of the date of filing, the company has nothing to do other than taking the debt as a tax write-off.If it is an asset chapter 7 or a chapter 13, the company should file a proof of claim on the form required by the court withing the time period for filing POCs.
You can file a chapter 13 bk, but NOT another chapter 7.
You can file bankruptcy again 7 years after the last time you filed.
You do not have to be unemployed to file bankruptcy.
Divorce will not affect filing chapter 7. If the divorce is final, you will have to file separate chapter 7s. If the divorce is not final, or has not happened, you can file a joint chapter 7.
You can file again in 8 years. You can only file Chapter 7 once every 8 years. You could file a Chapter 13 or vice versa but not the same chapter.
A person can file chapter 7 after 8 years from a previous chapter 7. So the answer is NO.
The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.
is it safe to file for voluntary dismissal of chapter 13 bankruptcy