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smithsussane
Joined: 18 Sep 2008
Posts: 10038
Location: Alaska
920.62 Dollars($)
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Hi Augie!
Welcome to forums!
You'll have to contact a property appraiser and let him appraise the property for you. This will help you know the present value of the property.
Feel free to ask if you've further queries.
Sussane |
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mayte2742
Guest
0.10 Dollars($)
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Post subject: Monthly payments |
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May I keep a tv and a computer making monthly payments? I am planning to file for a chapter 7 , bankruptcy , Florida.
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Need help choosing the right loan? Get free consultation from community lenders/consultant |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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Welcome mayte,
You'll be able to keep your assets like TV or a computer provided you reaffirm your debts with your creditor.
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Procrastination is the enemy of your financial success |
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anonymous 13
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0.10 Dollars($)
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Post subject: About my home |
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| I went thru chapter 7 about 1 1/2 years ago and it is closed. I kept my home because there wasn't enough equity since the housing market dropped. As far as I know I never reafirmed on this. I have never missed a payment. Now the taxes have gotten out of hand. If I don't pay the mortgage now am I still protected by the bankruptcy as far as my credit or would foreclosure affect me more than it already has? |
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Niicss
Joined: 03 Oct 2005
Posts: 4770
Location: New Jersey
499.28 Dollars($)
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The mortgage has been discharged through Chapter 7. As you've not reaffirmed the debts, the lender will not come after you for the payments. He will rather foreclose the property and try to recover as much dues as possible. You won't be responsible for the deficient amount. The foreclosure will affect your credit score. It may lower your credit score by 250 points.
_________________
Good is the Enemy of Great. |
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anonymous3675
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0.10 Dollars($)
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Post subject: Taxes |
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| will you have to pay taxes on debts after you file chapter 7, say i file chapter 7 for 15,000 dollars will I owe taxes on that ? |
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majichappens
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0.10 Dollars($)
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Post subject: tax returns |
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| I have not filed tax's in several years and have worked under the table making low wages (mostly homeless). How do i get around this matter..... i am thinking of filing a very very simple chapter 7 and proceeding with this matter by myself. any suggestions would be wonderful thanks...... |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2645
Location: New Brunswick, New Jersey
488.43 Dollars($)
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To anonymous,
Chapter 7 helps you in discharging your debts. You won't be responsible for paying any taxes for the discharged debts. However, your credit would be badly affected when you file bankruptcy and will get lowered by 250 points. Also, it will remain on your credit report for 10 years.
To majichappens,
As far as I know, you will have to clear off the taxes though you file Chapter 7. Tax defaults will not get discharged in bankruptcy. Before filing bankruptcy, I would suggest you to contact an attorney and take his opinion. He will be the best person to let you know which chapter of bankruptcy you should file.
Take care. |
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gertrude
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0.10 Dollars($)
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Post subject: bankruptcy in ohio chapter 7 |
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| how much money can i make |
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smithsussane
Joined: 18 Sep 2008
Posts: 10038
Location: Alaska
920.62 Dollars($)
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Hi Guest!
Welcome to forums!
Your query is not clear to me. Can you give some details regarding your query?
Sussane |
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anonymous fld
Guest
0.10 Dollars($)
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Post subject: Can I keep a rental income property after filing a Chapter13 |
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| In addition to my personal home & car I have (2) rental income properties of which one of them was purchased through an IRS 1031 exchange. Because of my financial situation I am considering filing for Chapter 13 bankruptcy protection. In a Chapter 13 bankruptcy would I be able to keep the rental income properties or at least the one that was purchased through a 1031 exchange? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Hi anonymous fld,
If you do not include the rental income properties in your bankruptcy filing, then you will be able save those property. Moreover, you should note that though you include the properties in your bankruptcy filing, you will still be able to retain them provided you pay according to the repayment plan given to you by your lender.
Thanks |
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Lynn
Guest
0.10 Dollars($)
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Post subject: Co-Owner of car with bankruptcy in Florida |
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| How will bankruptcy affect the co-owner of a car,( that was an inheritance from our mother) sister is on the title too. |
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smithsussane
Joined: 18 Sep 2008
Posts: 10038
Location: Alaska
920.62 Dollars($)
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Post subject: |
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Hi Lynn!
Welcome to forums!
The co-owner of the car will not be affected in any way. If the trustee sells off the car, he will give a portion of proceeds to the co-owner for which he/she is entitled to. The rest of the sale proceeds will go to the creditors of the other co-owner.
Sussane |
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anonymous500
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Post subject: Whether or not to file Chapter 7 |
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| I am considering whether or not to file Chapter 7. I have been unemployed for 3 months and have a rental home that is about to be short-saled or foreclosed. My credit score with Transunion is already down to 273. For that reason I am considering filing. I was under the assumption that my score would actually go up more quickly after bankruptcy than it currently will. Is that true? |
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