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Before pursuing bankruptcy, consider your alternatives, like working with a credit counselor or reevaluating your budget. There are also consolidation loans for individuals with large amounts of ...
Before you move forward with Chapter 7 or Chapter 13 bankruptcy, make sure you understand exactly how it will affect your car. Take steps to pay off your vehicle if at all possible. This gives you ...
Closed school discharge: If your school closed while you were attending (or soon after you withdrew), you may qualify to have your federal student loans discharged. Discharge options: You could ...
A reaffirmation agreement in United States bankruptcy law refers to an agreement made between a creditor and the debtor that waives discharge of a debt that would otherwise be discharged in the pending bankruptcy proceeding. A properly executed, timely filed reaffirmation agreement modifies the discharge such that it is rendered inoperable ...
In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]
The only limitation is that the suit must have some bearing on the liabilities or assets of the bankrupt debtor or the debtor's discharge. Adversary proceedings may be filed by the bankruptcy trustee or by other parties. For example, a creditor may file an adversary proceeding to object to the debtor's discharge.
Whether you should get a car loan after bankruptcy depends on your unique situation. For example, you might need to buy a car after bankruptcy to get to and from work.
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
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