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Can you forfeit most of your secured debts in a chapter 13 like you can in a chapter 7 if you you do not qualify for a chapter 7 but wish to liquidate as much as possible?
Wiki User
∙ 17y ago
A chapter 13 is a consolidation bankruptcy meaning the debtor presents a repayment schedule to the trustee/court. Secured debts are either reaffirmed or continued paid as agreed if there is not arrearages. Voluntary forfeiture of secured property such as a vehicle is still considered a repossession.
Wiki User
∙ 17y ago
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Is it possible to NOT qualify for chapter 13 bankruptcy?
Yes
How do you qualify for chapter 7 bankruptcy exemptions?
you did your mom
What is Bankruptcy Chapter 4?
What qualify u for bankruptcy
Do you need a minimum income to qualify for a chapter 7 bankruptcy?
No.
If you file bankruptcy?
What happens if you file bankruptcy differs depending on what chapter of bankruptcy you or your business decides to file under. The most common form of bankruptcy for the individual is Chapter 7. Under Chapter 7 bankruptcy, the banks may liquidate property and assets-except things that are explicitly protected. After this, most debts are forgiven-but not all, as certain debts do not qualify. Your credit score will then be severely damaged by the filing, but you will be free to slowly bring it back up as you will not be suffocated by debt. The article below goes into further detail on the process of bankruptcy.
What schedule do I list garnishment on chapter 7 bankruptcy?
i receive a judgment for ganishment but i have other bills which i qualify for chapter 7 does it get dismissed if i include it in the bankrutpcy
Do you qualify for unemployment if you quit your job in Illinois to relocate to PAfor husbands job?
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Can liverpoolfc qualify for champions league?
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Can you keep rental property chapter 7 IL?
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What happens to someone in a personal bankruptcy?
It depends on whether or not you qualify for Chapter 7 or Chapter 13. For Chapter 13, you will slowly have to pay your creditors back over time. For Chapter 7, you have to assign a value to everything that you own. The creditors will then determine whether or not these items will be included in the bankruptcy in a hearing.
How many words are needed to qualify for a chapter book?
in words it probably lots maybe about 10,000 if you wanted a good qualification
