Yes! They have to by law! All collecting must stop once the documents are filed. Your creditors must drop all lawsuits, wage garnishments and even collection phone calls demanding a payment. However, your secured creditors (the bank that gave you your car loan, for example) will get the stay lifted if you cannot make your
Your husband or wife will not feel any effects from your bankruptcy as long as they did not sign any agreement or contract to pay on the debt. If they have a supplemental credit card, they are more than likely responsible for that debt. That being said, if you live in the following states: Arizona,
Bankruptcy filings are public records and your bankruptcy may be listed in legal community papers or even the local newspaper. In normal circumstances, your bankruptcy will go unnoticed. The Credit Bureaus will record your bankruptcy and it will remain on your credit file for 10 years.
Your landlord can only evict you in the following situations: He obtained a judgement of possession prior to the filing of the bankruptcy petition; or There is endangerment to the property or illegal use of controlled substance on the property which occurred within 30 days before the bankruptcy filing. Your landlord will be required to
This question is up to the individual creditor that you have a card from. If you are discharging your debt (bankruptcy) they will cancel the card unless you reaffirm it. Even cards with a zero balance may be cancelled.
Yes! Banks now offer secured credit cards. Basically a pre-paid credit card, you can usually get one with as little as $200. As you prove your ability to pay your balance down the bank will generally increase the limit. In two years time you may even get a mortgage with terms as desirable as those
No. Firing you for filing bankruptcy would be discrimination and U.S.C. Sec. 525 makes it illegal.
You will need to perform a statement of intent to the item (such as your car) within 30 days after the date set for the first creditors meeting. Not doing this results in termination of the automatic stay and the creditor is then able to take back the asset, if they wish.
Depending on which state you live in, you will be able to keep certain items. The household exemption is now $125,000 if the property was acquired in the last 3.3 years (1215 days). This limit is not applicable to any interest transferred from a previous principal residence (acquired prior to the beginning of such 1,215
Your trustee will liquidate assets that are in excess of your allowed personal exemption, or non exempt assets such as, real estate, automobiles and boats.