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JELO1977
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0.10 Dollars($)
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Post subject: BUNKRUPTCY |
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| IS IT POSSIBLE TO FILED BUNKRUPTCY ON A MORTGAGE LOAN IF THERE IS A 1ST AND A 2ND |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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Welcome JELO,
It is possible to file bankruptcy when you've 2 mortgages on your property. You will be able to include both the mortgages in your bankruptcy filing.
_________________
Procrastination is the enemy of your financial success |
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bub
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0.10 Dollars($)
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| Is a tax return counted as income in a chapter 7? what if we put it into an IRA 90 days prior to filing bk? OR what if, 90 days prior, we pay down our second mortgage on the house we plan to keep? We don't want to do anything that is not permitted and jeopardize the bankruptcy. |
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smithsussane
Joined: 18 Sep 2008
Posts: 10038
Location: Alaska
920.62 Dollars($)
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Hi bub!
Welcome to forums!
The tax return will be considered as your income and the lender will be able to take it in order to pay off your creditors. As far as putting the amount in your IRA is concerned, it would be better if you could take the opinion of your bankruptcy attorney in this regard.
Feel free to ask if you've further queries.
Sussane |
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jonsie
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Post subject: payday loans |
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| can a payday loan store cash your check legally after you have notified them of a chapter 7 filing? And what can be done when they have? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Hi jonsie,
If you've filed Chapter 7, then the payday loan company will not be able to cash in the check. If your bankruptcy filing has been accepted, then the court will issue an automatic stay on all your creditors and they won't be able to cash in the check. I would suggest you to contact the bankruptcy attorney and take his opinion in this regard. He will be able to guide you in a better manner in this regard.
Thanks |
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anonymous in AZ
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Post subject: FILING CHAPTER 7 BANKRUPTCY A SECOND TIME |
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| My husband and I had a Chapter 7 bankruptcy discharged in December 2003. We have found ourselves in quite a bit debt now and our last resort would be to file bankruptcy again. We are current on our bills and have been late once on our mortgage and late on some credit cards but are current now on everything. We pay more than the minimum on the credit cards but it is getting harder every payday to maintain. There are so many debt consolidation programs out there, who knows which one we can trust. Can you give us some advice on how to proceed? |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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dcdc
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| I have a situation where i am currently recently unemployed, have some funds in now-previous employer 401k plan which I will need to live on until I find employment. So, i need to rollover funds to an IRA so that i can get funds distributed to me as needed and keep the rest untaxed. Problem is, I also need to file a Chapter 7 bankruptcy. Question is, are my funds remaining inside the IRA rollover protected from creditors and "Trustee" in the bankruptcy? |
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Niicss
Joined: 03 Oct 2005
Posts: 4770
Location: New Jersey
499.28 Dollars($)
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As far as I know, retirement accounts are protected while you file bankruptcy. The trustee will not be able to garnish your retirement account.
_________________
Good is the Enemy of Great. |
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norma
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Post subject: chap 7 |
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| CAn my income tax check be saved without using the 25000 exemption or do I have to surrender it |
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padilla
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Post subject: |
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| can you put a car in your name if you don't have a discharge yet in a chapter 7 |
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smithsussane
Joined: 18 Sep 2008
Posts: 10038
Location: Alaska
920.62 Dollars($)
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Post subject: |
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Hi norma!
Welcome to forums!
As far as I know, the trustee will be able to take your tax returns to pay off your creditors if you are in bankruptcy. Thus, I don't think you would be able to save your tax returns.
Sussane |
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Pharmb82
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Post subject: Good info |
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| Hello! fagekge interesting fagekge site! |
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kimrickb
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Post subject: |
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| can I recover wage garnishment? I have filed Bankrupty but during the time wages were taken my lawyer hadn't filed yet. The Plaintiffs attorney sent a garnishment release and stated that my funds garnishment would be returned. I talked to this lwayer and he says that was a mistake and he will be amending his paperwork. Doesn't see right. |
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