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lovinghusband
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| My wife…before her marriage...way back in 1994...filed a chapter 7 and included her student loans in it. That was in Illinois and she even got discharged. The student loan was for $2500.00. As far my knowledge during that time student loans were included in bankruptcy. But though she got it discharged, the bank is still trying to collect it from her …refund siezures, wage garnishment and lot of other ways. Do it does not affect me much but can I do anything to stop the bank from trying to collect it every year? |
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jerry
Moderator
Joined: 17 Oct 2005
Posts: 1778
Location: MICHIGAN
266.03 Dollars($)
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Hi,
You wife must be having the copy of the bankruptcy discharge order and the documents which state that she had included the student loans in the bankruptcy? In my opinion, you should send both the documents to the bank who are trying to collect the dues via certified mail. If they are still not ready to listen to you or if they still try to collect the dues from your wife, then you will have to contact a bankruptcy lawyer who will help you in resolving the issue with the bank.
Thanks,
Jerry |
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| Hi there…let me place my question straight… I an under deep water and cannot afford my medical bills any more along with some other debts. I have decided to file bankruptcy but I am confused which one to file...there are so many types Chapter 7, chapter 11, chapter 13… While checking online I have found that chapter 7 & 13 will be my best options… but want I would like to know if I can keep my house and my car.. What do you guys think??? Thanks in advance. |
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jerry
Moderator
Joined: 17 Oct 2005
Posts: 1778
Location: MICHIGAN
266.03 Dollars($)
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Hi Guest,
It will better if you can file Chapter 13 bankruptcy. This will also help you in reorganizing your debts. You should note that if you file Chapter 13, the lender will give you a new repayment plan and you will be able to save your house as well as your car.
But I would still suggest you to consult a bankruptcy attorney and take his suggestions before filing bankruptcy.
Thanks,
Jerry |
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saveme
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| I have a question regarding Chapter 7 bankruptcy. My question is what would be the best option for me? Is it better sell off the property now and give the proceeds to my debtors? My wife has nothing to do with debts. Will she be protected if I file bankruptcy? If I declare bankruptcy will it affect her ability to buy a home or car in the future? she is not part of any of the debt or any past due accounts. |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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Hi Guest
If you are already planning to file bankruptcy, then you should not sell off the property to pay off the debtors. If your wife is not a part of any of your debts, then she will not be affected by your bankruptcy. She can definitely apply for mortgage or auto loan depending upon her credit score and income.
Once your bankruptcy is discharged you can start establishing your credit again. You should also note that if your reaffirm your mortgage after the discharge of Chapter 7 and keep on making the mortgage payments, then you would be able to save your property as well.
Thanks.
_________________
Good is the Enemy of Great. |
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meprettyme
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| I need to know what my creditors can do in case my bankruptcy is discharged. Can they revoke the discharge of bankruptcy??? Is there a time period within which the creditor should file petition to revoke discharge??? Please can anyone help???? |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.07 Dollars($)
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Hi Guest
There are certain grounds on which a discharge of bankruptcy can be revoked. Your creditor or trustee can request the court to revoke the discharge if they find that you have obtained it fraudulently. A bankruptcy discharge can be revoked if you did not reveal that you acquired some property which would constitute the property of the bankruptcy estate. Apart from this, bankruptcy discharge can be revoked if you indulged in any improper act as described in section 727(a) (6) of the Bankruptcy Code.
Your creditor must file a petition within a year after you were discharged of bankruptcy. However, you should note that the court would investigate to determine whether the allegations brought up by the creditor are true or not and then revoke the discharge.
Take care. |
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poorme!
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| Hello there… I want to refinance my mortgage. But the downside is that I filed for bankruptcy. Now I want to change my loan from an arm to a 30-year fixed and take advantage of the low interest rates. My lender says they can't do it as I'm in bankruptcy. What do you think… can I get lower rates by refinancing? And one more thing…I even asked then for a mortgage modification. But they can’t do even that for me. Can a loan be modified once it is in bankruptcy? |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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Hi Guest,
As far as I know, you will be able to modify your loan; however, it will take you some time to achieve the modification until your bankruptcy is discharged. Different lenders have different rules and regulations to handle bankruptcy cases. Some lenders will not work with you if your bankruptcy is not discharged. Some lenders would require the court or attorney's approval to start the modification process.
I don't think you'll be able to refinance the mortgage when you are in bankruptcy. If you have filed Chapter 13, then you'll have to make payments according to the new repayment plan for at least a year and then look for a refinance.
Thanks.
_________________
Good is the Enemy of Great. |
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thamizzez
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Post subject: should i file bankruptcy |
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| I have alot of unpaid bills, like old phone bills and one credit card which the interest rate keeps going up. And i also have an judgement on my credit which was suppose to be in feb of 09. Do you think that if i file i can buy a house in the next year or so |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.07 Dollars($)
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Hi thamizzez,
It will depend upon the type of bankruptcy you file. If you plan to file Chapter 7 bankruptcy, then you'll have to wait for 2 years after the discharge to get a FHA loan and 4 years after the discharge to get a conventional loan.
If you file Chapter 13 bankruptcy, then you'll have to wait for 1 year after discharge to get a FHA loan and 2 years after the discharge to get a conventional loan.
Take Care |
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helpme...
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| Hi folks…I know it’s not a good option but I’m filing bankruptcy. However, the important thing is that I am expected to receive my rebate stimulus check after I file for bankruptcy. Well, what do you think…can the courts take my check to pay my creditors? Can the trustee withhold my rebate tax stimulus check? What do you say…help me guys… |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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Hi Guest
As far as I know, your bankruptcy court or the bankruptcy trustee cannot take away your check. However, in my opinion, they can put a lien on your checking account. It would be better if you could consult your bankruptcy attorney in this regard and take his opinion. He will be the best person to help you in this regard.
Thanks.
_________________
Good is the Enemy of Great. |
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