| Author |
Message |
Kel
Guest
0.10 Dollars($)
|
Post subject: Retirement Savings |
|
|
| I taught in a school for a year and had forgotten about a retirement savings plan I contributed to. I am about to file ch.7 and just got something in the mail saying I can ask for a refund of what I contributed. It's about 1,900.00. If I ask for a refund will I be able to keep the money or will I have to surrender it? |
|
 |
adonis
Joined: 22 Oct 2005
Posts: 10267
Location: ALASKA
1046.07 Dollars($)
|
|
Post subject: |
|
|
Welcome dandytime,
Back taxes do not get discharged though you file Chapter 7 bankruptcy. You'll be liable for paying off the back taxes. You can set up a payment plan with your state tax department and try to pay them off.
Welcome Kel,
As far as I know, the retirement savings is exempt in case of bankruptcy filing. However, as it would be refunded to you and not kept in the account, then it won't remain exempt any further. You'll have to surrender the money to the trustee who'll use it to pay off your creditors. However, you can have a word with your bankruptcy attorney in this regard and take his opinion as well.
_________________
Procrastination is the enemy of your financial success |
|
|
Kel
Guest
0.10 Dollars($)
|
|
Post subject: Retirement Savings |
|
|
| Can I leave it in there for the time being and request a refund once the bankruptcy has been discharge for 180 days? |
|
|
jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
|
|
Post subject: |
|
|
Hi Kel,
As far as I can understand, you can leave the money in the retirement account for the time being and then request for a refund after 180 days of your bankruptcy discharge. Nevertheless, as Adonis has suggested, you can get in touch with your bankruptcy attorney and take his opinion in this matter.
Thanks |
|
|
helpme
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
if i have another business incorperated can they go after that business iam filing personal and againt a another business    |
|
|
parkerjudy50@yahoo.com
Guest
0.10 Dollars($)
|
|
Post subject: bankruptcy 7 |
|
|
| I FILED IN 2002 CAN I FILE AGAIN IN 2010 |
|
|
Loren
Guest
0.10 Dollars($)
|
|
Post subject: Chapter 7 bankruptcy |
|
|
| My wife and i are considering filing chapter 7 bankruptcy, but we own or home and 1 of 2 cars are paid off.... Will we have to sell our home and the car since there is some modest equity in both??? We have approximtely 20-25000 in unsecured debt and have tried to get loans to consolidate the debt and have been turned down due to a poor credit score. |
|
|
stuck in Nevada
Guest
0.10 Dollars($)
|
|
Post subject: Chapter 7 |
|
|
| I have 2 mortgages on 2 homes in Las Vegas, NV I filed for chap 7, my son who was living in second home moved out, 2 months ago and I can not pay the mortgage on 2 homes, I am behind on the mortagae 2 months. What happens to the second house, does the bank just foreclose on it? |
|
|
Niicss
Joined: 03 Oct 2005
Posts: 4772
Location: New Jersey
499.62 Dollars($)
|
|
Post subject: |
|
|
To Guest,
You'll have to list your businesses while you file bankruptcy. If the other business is free and clear of any debts, then the trustee may come after it. However, I would suggest you to contact a bankruptcy attorney and take his opinion in this matter. He would be able to guide you in a better manner.
To parkerjudy,
You'll be able to re-file Chapter 7 if 8 years have passed since the previous filing. As 8 years have passed, you'll be able to re-file bankruptcy now. However, contact a bankruptcy attorney and discuss your situation with him. He will let you know whether or not it's the right time for you to file bankruptcy.
To Loren,
You can contact the debt settlement companies in order to get a debt settlement program to consolidate and pay off the debts. May be the debt settlement company can negotiate with your creditors and give you a single affordable monthly payment plan to pay off the unsecured debt. This would be a better option to pay off the unsecured debts. Also, you would be able to save your car and the property.
To Guest,
Your query has been replied to in the given page:
http://www.mortgagefit.com/nevada/chapter7-foreclosure.html#173432
Take a look at it. Hope it helps you.
_________________
Good is the Enemy of Great. |
|
|
anonymous123
Guest
0.10 Dollars($)
|
|
Post subject: hi |
|
|
| how do i file bankruptcy |
|
|
jerry
Moderator
Joined: 17 Oct 2005
Posts: 2619
Location: MICHIGAN
415.87 Dollars($)
|
|
Post subject: |
|
|
Hi anonymous,
What type of bankruptcy do you want to file? You need to contact a bankruptcy attorney in order to file bankruptcy. He will go through your financial situation and will help you in deciding which chapter of bankruptcy is best suited for your situation.
Thanks,
Jerry |
|
|
colton
Guest
0.10 Dollars($)
|
|
Post subject: first and second mortgage after bankrupcy |
|
|
| we have just filled bankrupcy and we have no equity in our home left we have a second mortgage that we will never be able to pay off and we are upside down in our home. Our decision now is do we stay and continue to pay for this expensive home that pretty much put us in this situation or do we walk away. Our attorney adivsed us not to sign the papers to reafirm the loan on the first. So would we walk away or have to forclose on the property since we have just filled bankrupcy in June 2010. |
|
|
terbac
Guest
0.10 Dollars($)
|
|
Post subject: Refinance after Chapter 7 |
|
|
| My husband and I claimed chapter 7. We would like to refinance our two mortgages to lower the monthly payment. We are not looking to get any cash out, just want to lower the monthly payments. Do we have to wait the two years or can we do it now. Chapter 7 was completed in June 2010. |
|
|
SEREENA
Guest
0.10 Dollars($)
|
|
Post subject: CHAPTER 7 |
|
|
| OK HERE GOES... MY HUSBAND AND I FILED CHAPTER 7 BANKRUPTCY 18 MONTHS AGO. WE KEPT OUR CARS AND TRAILER. ON OUR CREDIT REPORT IS SHOWS OUR TRAILER AS BEING OPEN AVTIVE AND CURRENT BUT ON OUR CAR LOAN IS SHOWS AS BEING UNDER THE CHAPTER 7 AND NONE OF OUR PAYEMTS ARE BING REPORTED. WHEN WE CALLED THE CREDIT UNION THEY SAID THEY DO NOT HAVE TO REPORT OUR PAYMENTS AS WE FILED CHAPTER 7 ...CONFUSED |
|
|
Niicss
Joined: 03 Oct 2005
Posts: 4772
Location: New Jersey
499.62 Dollars($)
|
|
Post subject: |
|
|
To colton,
If you want to get rid of the property, then you can surrender it to the lender who will foreclose it to recover the dues. You won't be liable for paying any dues related to the mortgage as you haven't reaffirmed the loan.
To terbac,
You cannot refinance your loan immediately after a Chapter 7. Lenders won't be ready to refinance your loan unless 2 years have passed since your bankruptcy discharge.
To Serena,
Your query has been replied to in the given page:
http://www.mortgagefit.com/bankruptcy/chapter7-currentpayments.html
Take a look at it. Hope it helps you.
_________________
Good is the Enemy of Great. |
|
|
Previous 1, 2, 3, ... 25, 26, 27, ... 42, 43, 44 Next 
