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Chapter 13 bankruptcy - How to keep assets and repay debt

Author Message
sherry0603

Guest





0.10 Dollars($)

Post     Post subject: Income Tax Returns and Chapter 13

I have been told that I cannot keep over $2000 of my tax refund. This year I only got $2915. Would I get in trouble if I kept the $900 since its not that much additional?
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Mini Profile  smithsussane
smith.sussane


Joined: 18 Sep 2008
Posts: 10395
Location: Alaska

978.90 Dollars($)

Post     Post subject:

Hi sherry!

Welcome to forums!

You should have a word with your bankruptcy attorney and trustee and he will be able to help you in this matter in a better way.

Feel free to ask if you've further queries.

Sussane
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may

Guest





0.10 Dollars($)

Post     Post subject: loan modification/chapter 13 plan

We are 1 month mortgage behind, an now currently paying under chapter 13. Is it still possible to apply for a loan modification? Since our 1 month mortgage behind is included in repayment plan for chapter 13.
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Mini Profile  jameshogg
jameshogg


Joined: 20 Dec 2005
Posts: 10443
Location: Nevada

984.98 Dollars($)

Post     Post subject:

Hi may,

You may apply for a loan modification though you're in Chapter 13. However, it will be the discretion of the lender whether or not he will consider your request in this matter.

Thanks
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Higgins

Guest





0.10 Dollars($)

Post     Post subject: asset appreciation

What happens to the approved Chapter 13 plan is you receive an income increase during the 5 years? Also, what happens if you inherit money or assets while under a chapter 13 approved plan?
Thanks.
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Mini Profile  adonis
adonis


Joined: 22 Oct 2005
Posts: 10531
Location: ALASKA

1085.02 Dollars($)

Post     Post subject:

Welcome Higgins,

If your income increases, then you can pay extra towards your payments under the Chapter 13 payment plan and pay off the dues quickly to get a discharge. You can contact your bankruptcy attorney and trustee and inform them that you want to raise your payments towards the payment plan.

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Procrastination is the enemy of your financial success
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game

Guest





0.10 Dollars($)

Post     Post subject: pay day loan

can i get a paydayloan during chapter 13
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Mini Profile  jameshogg
jameshogg


Joined: 20 Dec 2005
Posts: 10443
Location: Nevada

984.98 Dollars($)

Post     Post subject:

Hi Guest,

You may not be able to qualify for a payday loan if you're in Chapter 13. It will be better if you do not fall into the payday loan trap. It is quite difficult to get out of this payday loan trap.

Thanks
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jessica brown

Guest





0.10 Dollars($)

Post     Post subject: chapter 13

Can I apply severance money into 401k,say 30-40 percent of $12000 and still be legal!
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Monaliza

Guest





0.10 Dollars($)

Post     Post subject:

As far as I know, you may be able to apply your severance money towards your 401k.
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Mini Profile  jameshogg
jameshogg


Joined: 20 Dec 2005
Posts: 10443
Location: Nevada

984.98 Dollars($)

Post     Post subject:

Hi diver,

Your query has been replied to in the given page:
http://www.mortgagefit.com/know-how/about50864.html

Take a look at it. I hope it will help you.

Thanks
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sherri

Guest





0.10 Dollars($)

Post     Post subject: quit claim deed before bankruptcy

our neighbor wants to quit claim his property to us before he files bankruptcy. he has judgements against him. If we do this, is there a chance that the property can be taken away from me during bankruptcy? He will probaably file chapter 7.
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Mini Profile  smithsussane
smith.sussane


Joined: 18 Sep 2008
Posts: 10395
Location: Alaska

978.90 Dollars($)

Post     Post subject:

Hi sherri!

Welcome to forums!

Transferring of property immediately before filing bankruptcy can be considered as fraudulent. There are chances that the trustee will cancel the property transfer and include the property back as a part of the bankruptcy assets.

Feel free to ask if you've further queries.

Sussane
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Mini Profile  unab



Joined: 25 May 2011
Posts: 68


9.62 Dollars($)

Post     Post subject:

Does all monthly payment depend upon the repayment plan?
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sherri

Guest





0.10 Dollars($)

Post     Post subject: fraudulent debts

there are things you cannot discharge during bankruptcy, such as fraudulent debts. What do the consider fraudulent debts?
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