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Importance of Chapter7 discharge in bankruptcy

Posted on: 10th Nov, 2005 03:08 pm
What is meant by chapter7 Discharge?
Hi Tonya,

If your bankruptcy filing has not been discharged yet and if the court has issued an automatic stay on your creditors, then they will not be able to sue you for any debt.
Posted on: 17th May, 2010 12:07 am
My son is in the process of filing chapter 7 . He lives in New York. He is leasing a car and the lease is up in July . The bank will not let him take a loan out due to the bankruptcy.I am trying to see if I can loan him the money to buy out the lease, but will they take the car away from him after the fact, if it's showing paid with no loan due.
Posted on: 21st Jun, 2010 06:15 am
Hi Carpy,

As your son is in the process of filing bankruptcy, it is true that he won't be able to get a mortgage now. If the car is free and clear, then there are chances that the trustee can sell off the car in order to pay off his creditors.

Feel free to ask if you've further queries.

Sussane
Posted on: 21st Jun, 2010 10:37 pm
I am interested to know how you get around loosing inheritance when a parent dies and you filed bankrupsy. there has to be ways to keep the money..has too.
Posted on: 30th Jun, 2010 11:33 am
Hi keeperofthekeys,

If you've filed Chapter 7 and you receive an inheritance within 180 days of your filing date, then your inheritance will be a part of your bankruptcy estate. It can be used to pay your debts. If you've filed Chapter 13, then your inheritance can be used to determine how much money you've to pay creditors under your repayment plan. Also, the 180-day limit doesn't apply in this case.

Take care
Posted on: 01st Jul, 2010 03:36 am
I have 2 mortgages one house I live in and the other my daughter and her childre (she pays that mortgage) I lost my job in 2009. What can a collection agency do? Can they take the house or if they put a lein can they force us out or force us to see?
Posted on: 04th Sep, 2010 01:52 pm
Welcome Pat,

The collection agency can contact you and harass you for the payments. They can file a lawsuit in the court and get a judgment against you and then place a lien on your property. When you sell off the property, the sale proceeds will go towards paying off the lien.
Posted on: 06th Sep, 2010 12:54 am
"Tonya how long are protected under a chapter 7 bankruptcy. For me its been about 3 or 4 years and i have people trying to sue me im i protected"
So you had a bankruptcy discharge a few years ago?and this creditor was on your bankruptcy?then they can't sue you. However, if this is a debt that was incurred after your discharge, then you're responsible. I would seek advice from your bankruptcy attorney.
Anyways,I'm not an attorney, however I have a lot of experience preparing bankruptcies. my 2 cents.Best of luck.
Posted on: 10th Sep, 2010 11:34 am
Pat Ziegler "I have 2 mortgages one house I live in and the other my daughter and her childre (she pays that mortgage) I lost my job in 2009. What can a collection agency do? Can they take the house or if they put a lein can they force us out or force us to see?"
Are you referring to a different creditor?and not the mortage company?was it for like repairs for your house?
Posted on: 10th Sep, 2010 11:42 am
I JUST RECEIVED A NEW CREDIT CARD OFFER OF $300.00 LIMIT TO START RE-STABLISHING MY CREDIT. I AM STILL WAITING FOR MY DISCHARGE NOTICE,IF I CHARGE ANYTHING TO THIS NEW CREDIT CARD, WILL IT AFFECT MY DISCHARGE.
Posted on: 08th Oct, 2010 08:48 pm
Hi ANA,

In my opinion, it'll be better if you could wait till you get your bankruptcy discharge. Once you receive the discharge, then you can charge anything against the new credit card.
Posted on: 09th Oct, 2010 02:55 am
will credtors sto soon as i file
Posted on: 07th Nov, 2010 02:06 am
Hi rose!

Welcome to forums!

As soon as you file bankruptcy and the court accepts it, the lender will stop the garnishment as the court will issue an automatic stay on all your creditors/lenders.

Feel free to ask if you've further queries.

Sussane
Posted on: 09th Nov, 2010 01:17 am
After divorce and filing Chapter 7, can X request child support modification. Was left with the debt of the marriage.
Posted on: 10th Dec, 2010 07:48 pm
Hi hcare,

Child support will not be included in the bankruptcy filing. If your ex is facing hardship, he may request the court for a modification in the payment plan.
Posted on: 13th Dec, 2010 12:17 am
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