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gmy
Guest
0.10 Dollars($)
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Post subject: chapter 7 |
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| is IRS and State taxes and school loans wiped out with chapter 7 |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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Post subject: |
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Welcome gmy,
Student loans and back taxes cannot be wiped out by filing Chapter 7. You will be liable to pay off the back taxes as well as the student loans.
_________________
Procrastination is the enemy of your financial success |
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mercy.sdci@gmail.com
Guest
0.10 Dollars($)
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Post subject: Owned cars in chapter 7 Bankruptcy |
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| I own my car and have had it for 2 years now. The Market value of the car is less than $4000. Am I able to keep my car, which is my only valuable possesion and how I make it to work and back everyday and take my 3 children to school? |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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Post subject: |
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Hi mercy,
As far as I know, the lender will take away your car only if you have equity in it. If you do not have any equity in the property, then the trustee will not sell off the property to pay off the creditors.
_________________
Procrastination is the enemy of your financial success |
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jp4557
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0.10 Dollars($)
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Post subject: Inheritance after Chapter 7 filed |
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| If you receive an inheritance after you file Chapter 7, how will the courts know, would they trace that and make you give up the inheritance to the debtors? |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2645
Location: New Brunswick, New Jersey
488.43 Dollars($)
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Post subject: |
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Hi jp,
As far as I know, you will have to disclose the receiving of inheritance in front of the bankruptcy court. If there is a death within 180 days of you filing a Chapter 7 bankruptcy, any inheritance or life insurance which you'll receive will come under the control of the Chapter 7 trustee. It'll be used to pay your creditors.
Take care. |
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GJ
Guest
0.10 Dollars($)
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Post subject: lien |
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| How do you remove the lien from the property after filing chapter 7? this house has not been collect by the bank and still own by me. The neighbor is interesting in buying the property so i went into the bank and found out that if i offer 7 thous the lien would be remove however the property isnt worth 7 thousand anymore due to the assessement by the county. I couldnt get a hold of these people in the bank anymore they shove me around and around and around and no calls return. I have been trying to find out if they would accept under 1000 to pay off the lien.... what would you do? im stuck and would like to take this house off of my hands. any suggestion. |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Post subject: |
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Hi GJ,
The lien cannot be removed from the property unless the mortgage dues has been satisfied fully. The lender will foreclose the property and recover his dues. Then the lien will get released.
Thanks |
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anonymous16
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0.10 Dollars($)
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Post subject: getting a mortgage after bankruptcy |
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| my bankruptcy was discharged and it will be 2 years since the discharge this coming october. Will I immediatelyt be able to apply for home loans (especially FHA) or will I still need to wait? Thank you. |
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GJ
Guest
0.10 Dollars($)
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Post subject: mortgage |
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to anonmous16:
Yes you can but the interest rate will be higher than those who have good credit ratings. |
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lillieb
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0.10 Dollars($)
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Post subject: back taxes and chapter 7 |
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| I am currently paying on back taxes 2008 to IRS .. I am inquiry about Chapter 7 i have read up and it is not old enough to file ..My question is can I file Chapter 7 if I currently owe the IRS? or will this have to be paid in full ? |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2645
Location: New Brunswick, New Jersey
488.43 Dollars($)
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Post subject: |
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Hi lilieb,
Back taxes do not get discharged in a bankruptcy filing. In that case, I guess, you will be able to file bankruptcy though you are paying the IRS through a payment plan. However, for further advice, I would suggest you to have a word with your bankruptcy attorney.
Take care. |
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shantel
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0.10 Dollars($)
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Post subject: |
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| I have quiet afew things on my credit most of them are car loans .I m trying to clean it up by working 2 jobs but its just not enough income. I am a single parent i have no parents or no one too.So I think this will be my new beginning. |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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Post subject: |
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Hi Shantel,
Are you planning to file bankruptcy? I would suggest you to contact a bankruptcy attorney and take his opinion in this matter. He will judge your situation and help you decide as to which chapter of bankruptcy filing will be best suited for you.
_________________
Procrastination is the enemy of your financial success |
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arta123
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0.10 Dollars($)
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Post subject: assets. |
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| I sold a car to a roomate, he took over the pmts. But was under my name until just this month, would they go after that car. Its only worth around 5k in blue book. |
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