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linlin
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0.10 Dollars($)
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Post subject: bankruptcy |
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| my mortgage is in a chapter13 ..for seven month payments are not being applied to acct ..due to cant find acct with home Q at all checks have not been cash..homeQ saying dont have acct |
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REX
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0.10 Dollars($)
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Post subject: IRS |
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| CAN YOU FILE BANKRUPTCY ON THE IRS? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10443
Location: Nevada
984.98 Dollars($)
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Hi linlin,
You will have to contact your bankruptcy attorney and trustee and check out what you need to do in this regard.
To REX,
You cannot get the IRS debts discharged. You will be liable for paying off the IRS debts in full. You can set up a payment plan with them in order to pay off the dues.
Thanks |
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answer looker
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0.10 Dollars($)
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Post subject: discharged and no reaffirmantion done on mortgage |
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| signed reaffirmation ppwk on 3-1-11 and also the same date that chap 7 bankruptcy discharged -so reaffirmation on mortgage not good now, how does it work when no mortgage pymt made for 2 months and received ltr in mail stating foreclosure proceedings will start on home can I still walk away without consequences of any kind |
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smithsussane
Joined: 18 Sep 2008
Posts: 10382
Location: Alaska
976.66 Dollars($)
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Post subject: |
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Hi Guest!
Welcome to forums!
As the mortgage has been discharged in your bankruptcy filing, you can simply surrender the property to the lender who will start the foreclosure procedure. After the foreclosure, you won't be liable for paying off any deficient balance to the lender.
Feel free to ask if you've further queries.
Sussane |
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Sally 412
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0.10 Dollars($)
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Post subject: Loan modification |
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Hello,
I filed ch 7 bankrupcy last year and I was discharged from all my debt including my home loan. I'm still in my home but I'm not making any payments. Bank of America keeps sending forms to fill out for the Home Affordable Modification Program. One of the questions on the form is, whether I have filed bankrupcy and if I have been discharged. Is it favorable for me to complete these forms and is it a good idea to disclose my bankrupcy information? Bank of America has not kicked me out yet and they keep sending my payments and keep calling me about trying to make a payment. I want to keep my home but I need to afford the payment. My current income is $5000/monthly. I know that my mortage cannot be more then 31% of my income. I bought my home for $485,000 in jan 2007, with no down payment.
If you can please advise me on what to do, that would help me and guide me so much. Thanks you help; I really appreciate it! |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2687
Location: New Brunswick, New Jersey
495.40 Dollars($)
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Post subject: |
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Hi Sally,
As you had filed bankruptcy, it will be better if you could disclose the status of your bankruptcy in the application for Home Affordable Modification Program.
Take care |
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Frustrated in CT
Guest
0.10 Dollars($)
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Post subject: Deed In Lieu of Foreclosure with bankruptcy |
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My house has been on the market for over a year with no bites. I haven't paid my mortgage for a year & my equity loan for 4 months due to loosing my job & being a 1099 employee unable to collect unemployment.
I am cosidering doing a deed in lieu of foreclosure. If I file bankruptcy first will I be forgiven the taxes by the IRS for the banks loss?
Thank You, Lisa |
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adonis
Joined: 22 Oct 2005
Posts: 10531
Location: ALASKA
1085.02 Dollars($)
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Welcome Guest,
Filing bankruptcy can help you in getting rid of your debts but your unpaid taxes won't be forgiven or discharged. You will be liable for paying off the unpaid taxes to the IRS.
_________________
Procrastination is the enemy of your financial success |
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SS
Guest
0.10 Dollars($)
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Post subject: reaffirmation agreement |
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| chapter 7 was discharged in oct 2009. thought reaffirmation agreement had been filed. I was given copy of unfiled reaffirmation agreement. founf out today almost 2 years later agreement never filed. Lender said attorney did not file agreement. Attorney said lender did not file agreement. Whose suppose to file it in State of missouri. Can filinf motion to re-open discharged cahpter 7 to re-affirm mortgage open door for old creditors to come back after you? Under circumstances am I a renter or homeowner? Ive not missed any payments. am I accuring equity. Credit report shows zero balance on mortgage. |
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smithsussane
Joined: 18 Sep 2008
Posts: 10382
Location: Alaska
976.66 Dollars($)
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Post subject: |
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Hi SS!
Welcome to forums!
As far as I know, your attorney should have filed the reaffirmation agreement with the court. It will be difficult for you to re-open your bankruptcy filing after 2 years of discharge. As the property deed still has your name on it, you are the homeowner but you're not personally liable for the mortgage payments. As a result, your credit report shows zero balance on mortgage.
Feel free to ask if you've further queries.
Sussane |
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mld
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Post subject: Bankruptcy and 2nd mortgage |
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| Lost our home to foreclosre in 2008 which had a 1st and 2nd mortgage to purchase the home. We occassionally receive 2nd mortgage statements in the mail. I found out that the Statue of Limitations in Delaware for Promissory notes is 3 years from the start of the last payment/interaction which means that time has passed since my last interaction was in 2007 or early 2008. If the statute of limitations have passed, does this mean that Wells Fargo can try to sue me for the balance of that mortgage? This is what I am understanding. If this is the case, would it be best to file bankruptcy or wait for the mortgage to drop of my credit report which is due to do so in 2013? We really need a home and renting seems like such a waste of money. |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2687
Location: New Brunswick, New Jersey
495.40 Dollars($)
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Hi mld,
If the SOL has passed, then the lender won't be able to sue you for the debts. He may, however, keep on contacting you for the payments. I don't think you need to file bankruptcy in this case as your property has already been foreclosed and sold off. Filing bankruptcy will have further negative affects on your credit report.
Take care.
_________________
Find me at FB: http://www.facebook.com/people/Sara-Jones/100002976822020 |
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M&M
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0.10 Dollars($)
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Post subject: Divorce |
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| Im currently going thru a divorce, my wife just filed bankrupcy, I did not. I will be getting the house in the divorce settlement, is she eligible for half the equity in the house where she filed bankrupcy on it? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10382
Location: Alaska
976.66 Dollars($)
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Post subject: |
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Hi M&M!
Welcome to forums!
If your wife has already filed bankruptcy, then she may not be able to claim any equity in that house. Nevertheless, you should speak to your divorce attorney in this regard and check out what can be done in this regard.
Feel free to ask if you've further queries.
Sussane |
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