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Creditors holding secured claims cannot be dismissed in a bankruptcy. These claims will have to be reaffirmed or they can take back the property.
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Will your mortgage company know if you filed bankruptcy?
Yes. When you file bankruptcy you are required to fill out a number of forms. Schedule D is the form for Creditors holding secured claims and a home mortgage is a Secure Debt. You will have a complete list of all your creditors names, addresses, account numbers on a form called the Creditor's Mailing Matrix. The Bankruptcy court sends notification to all the creditors listed that you have filed bankruptcy.
On a bankruptcy filing form what does it mean when it asks schedule F creditors holding unsecured nonpriority claims and asks for the date claim was incurred and consideration for claim?
Creditors are either secured or unsecured. Secured creditors such as the mortgage on your house or you car loan go on Schedule D. Unsecured creditors (creditor without liens or collateral) are either priority or nonpriority. The only creditors who are classified as priority go on Schedule E and Schedule E contains a list of the categories. Every other creditor (general unsecured creditors) goes on schedule F. The most common example of unsecured nonpriority creditors are credit cards and medical bills. You basically need to give a general description of what you bought and when you bought it. You don't need exact dates.
How long can a company stay in bankruptcy proceedings?
There is no timeframe. Some take years. Some creditors can file suit in the bankruptcy court to protect claims if need be. This is normally used on items such as cars that go down in value over time and are secured claims.
The claims of creditors against the assets are?
Liabilites
What is chapter 7?
Chapter 7 bankruptcy protects you from creditors and sells your non secured assets to pay the creditors that you owe. If you do not own an assets, you will not have to pay the creditors and the debt will be forgiven.
What are the creditors' rights on estates without wills?
They have the same rights as they have with an estate that has a will. The creditors file their claims with the executor.
Can stockholders' equity be described as claims of creditors on total assets?
yes
Defrauding a secured creditor law in Texas?
In law 48, what is a creditor? Is law 48 fair to creditors?
Can creditors garnish wages on a secured debt?
The long and short of it is--Yes. You signed a promissory note--you promised to pay and you haven't.
Describe the stockholders liability to creditors of a corporation?
A corporation's creditors usually do not be past the assets of the corporation to satisfy their claims. The most a stockholder can lose financially is the amount he or she invested.
Would you have to pay monthly notes in filing chapter 7 on my vehicle?
You don't file bankruptcy "on your vehicle." You file bankruptcy to discharge all your debts. You don't get to pick and choose which creditors. But, secured creditors either have to continue to be paid or you have to surrender the collateral, in which case the balance due on the secured note would be discharged.
Is there any law or ordinance in Missouri against someone hiding their vehicle from the repo man?
Stealing and Related Offenses Section 570.180 Defrauding secured creditors. 570.180. 1. A person commits the crime of defrauding secured creditors if he destroys, removes, conceals, encumbers, transfers or otherwise deals with property subject to a security interest with purpose to defraud the holder of the security interest. 2. Defrauding secured creditors is a class A misdemeanor unless the amount remaining to be paid on the secured debt, including interest, is five hundred dollars or more, in which case defrauding secured creditors is a class D felony. (a) It is a class A misdemeanor if the authorized imprisonment exceeds six months in jail; (d) It is a class D felony if the maximum term of imprisonment is less than ten years; Chapter 557 General Sentencing Provisions Section 557.021
