Bankruptcy questions nc

bankruptcy questions nc

Common Questions Asked About Chapter 7 Bankruptcy What is Chapter 7 and how does it work? Chapter 7 is that part of the federal bankruptcy laws permitting a person to discharge certain debts by filing a case in the bankruptcy court, turning all of his or her nonexempt property over to a trustee, and obeying the orders and rules of the court. Contact the Department at () to verify that it has received notice of your bankruptcy filing. If the Department has received notice of your bankruptcy filing, then upon completion of your bankruptcy you will receive either a dismissal or a discharge from the courts. 1 Answer | Asked in Bankruptcy for North Carolina on Feb 29, Q: can you file bankruptcy In Greensboro nc if you live in Charlotte NC Timothy Denison answered on Feb 29, No. Greensboro, NC is in the middle district of NC while Charlotte is in the Western District of NC.

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While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankruptcy can be a confusing process. Here are some of the most common questions sent to Bankrate about Chapter 7 and Chapter 13 bankruptcy. A Chapter 7 bankruptcy eliminates many existing debts, but stays on your credit report for the next 10 years and can make it harder for you to get a new job or credit.

Read more. Once you stop paying, the lenders are likely to claim the loans uncollectible rather than foreclosing.

Unfortunately, at this time, all your assets are at risk once the creditor has a judgment against you. The creditor can levy your bank account down to the last penny, up to the amount you owe.

Should I file for bankruptcy or attempt to force my ex-husband, who filed for bankruptcy after our divorce, to pay a large debt in both our names? There is a reason why the bankruptcy firm advised you to consult a divorce attorney to file for contempt and the divorce lawyer told you to file for bankruptcy. The divorce attorney probably thinks it is too costly for you to go after your ex-husband, and the bankruptcy attorney told you the bankruptcy will negatively impact your credit. Worried there may be mistakes on your credit report?

Check it for free at myBankrate. It is possible for only 1 household member to file for bankruptcy, keeping the other spouse out. However, you need to explore both options before making the decision to file for Chapter What is the best way to start rebuilding your credit after a bankruptcy? Although there are a few options, the easiest way to begin re-establishing credit is with a secured credit card with a local credit union or bank.

Some institutions will want to see at least 12 to 24 months of good payment history before offering you an unsecured card. Will I ever recover my credit score if I file for bankruptcy? You could have a credit score above within a few years after your bankruptcy case has been discharged. Refinancing a mortgage in Chapter 13 bankruptcy is an uphill battle, especially if you are underwater, meaning you owe more than the home is worth.

Your best option may be to either continue making payments on your present mortgage under Chapter 13 bankruptcy or seek a loan modification. In the vast majority of cases, small-business owners are personally liable on some or all of the debt incurred while operating a business.

If you used your Social Security number to apply for a credit card for the business or personally guaranteed debts to a vendor, those debts will follow you even after the business is closed. That line of credit must be paid in order to keep your property. Read more Bankruptcy Adviser columns and more stories about debt management. Depending on the terms of the plan, your payments may have gone to pay your attorney fees first. Then when your case I failed to complete my chapter 13 bankruptcy.

The car was paid 9, They came and took it back even after payments. What can I do? If the bankruptcy was dismissed, they can repossess the car. Dismissed due to multiple missed payments. Lawyers were paid off top, 1st year over 5, Where is my money? All of the creditors claim they never received any money.

Because debts are paid in a specific order, some of your creditors may not have received any money because higher priority creditors get paid A bank called Deutsche Bank has stated that they are the trustee on my loan and I have never heard of them prior to them trying to foreclose on my property. I have been approved for You need to have a lawyer look at this for you but DB does not have to be listed on the deed or trust if they subsequently purchased it.

You will have to file in the Western District. I have in credit card debt and in collection debt mostly medical bills. My truck is paid off and I don't own a house. I make about a year. I can't afford the monthly payments on the credit cards and still be able to live.

I don't know what my options are. Depends on what your truck is worth and what the debt on it is. Consult a competent bankruptcy attorney and let him flush out the facts to determine your best action.

I was sued by Allstate and did not get a chance to go to the court date since I moved to another state and heard about it late. I found out that it was a default judgement and I was required to pay 24k. Since then my license has been suspended and I can only get it back if I start a payment plan. You should hire another bankruptcy attorney and file again.

Not going to court for any reason is a bad plan bc the end result is always the same. You lose. Refill it, make the meeting and get the default discharged. They can levy it but if you show the proceeds are all social security, they will have to refund it.

You have to obtain permission From the court to incur debt while in Chapter If permitted, then you should be able to use the land as collateral.

It could delay it but it will not negate it. She has not been living here at home for some time and has been living with her Mother who has convinced her to file for bankruptcy to get rid of her obligations to our debts. She is hiding money from the case to help strengthen it in her mothers accounts as well as possible accounts. She has If you can prove she is hiding money, you may want to advise the trustee in her bankruptcy case.

I spoke with a bankruptcy lawyer and was advised an IRA is exempt. You should speak with a competent bankruptcy attorney and he can tell you how best to protect your money. Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

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Lynn Ellen Coleman answered on Jul 2, You cannot change a dischargeable debt into a nondischargeable debt. Lynn Ellen Coleman answered on Jun 17, It depends upon how much the car is worth, how many other cars you own and how much equity you have in real estate. Timothy Denison answered on Jun 7, I would not buy it until after I filed bankruptcy. Timothy Denison answered on Jun 1, Depends on whether the house proceeds are exempted.

Timothy Denison answered on Jun 1, About days if no problems. Timothy Denison answered on Apr 6, Yes.

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