How are lawsuits handled in Bankruptcy?
thedellutrilawgroup asked:
If you are being sued for foreclosure that debt is included in the bankruptcy If someone owes you money, then the ch.7 trustee has the right to step in. Dealing with a Ch. 13 the trustee does not handle that on your behalf.
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Categories: majority vote Tags: ch 7, foreclosure, Someone Owes You Money
What happens to my foreclosed mortgage debt if I switch from Chapter 13 to Chapter 7 bankruptcy?
In Jan. 2008 I filed Ch. 13 in a frantic attempt to keep my home. In the end, I ended up losing the property due to raising ARMs. I am still in the Ch. 13 and am wondering if I couldn’t switch to a Ch.7 instead? If I do switch to a chapter 7 can my mortgage debt be included in the Chapter 7 or can they go after the co-signor at that point?
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Categories: information on bankruptcy Tags: ch 7, chapter 7, frantic attempt, mortgage debt
What happens when one of two owners of a property files bankrupt?
My friend and I have a condo. The loan is in her name and both of our names are on the title. She has filed bankrupt CH 7 and included the mortgage. What happens in this case when my name is not on the mortgage but it is on title?
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Categories: information on bankruptcy Tags: ch 7, mortgage
Saving small business assets through personal bankruptcy?
I have a small business… sole proprietorship…. i’m having to file personal bankruptcy…mostly credit card debt and medical bills. Can I protect my business assets (my computers and some other stuff are exempt under Ch 7, but not office furniture which exceeds the personal exemption) if i convert it to a corporation a few months before filing?
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Categories: information on bankruptcy Tags: business assets, ch 7, credit card debt, medical bills, office furniture, personal bankruptcy, personal exemption, small business, sole proprietorship
How long after chapter 13 bankruptcy can you purchase a home?
Everything that i’ve read says that you can get a home after 1 year in a ch 13 bankruptcy, 2 years after ch 7 bankruptcy, and 3 years after a foreclosure. I am about to file a chapter 13, and wonder how long would I have to wait before I could purchase a home. Does anyone know the actual rule and could you point me to the website or where you got your information?
Thank you!
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Categories: information on bankruptcy Tags: 3 years, bankruptcy, ch 7, chapter 13, foreclosure