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Type of bankruptcy. What it means for you. Chapter 7. Often referred to as liquidation, this type of bankruptcy means selling off your non-exempt assets to repay your debt.
Be Aware: 6 Unusual Ways To Make Extra Money (That Actually Work) ... 6 Ways To Rebuild Your Credit After Filing For Bankruptcy. Show comments. Advertisement. Advertisement. In Other News.
Applying for a mortgage post-bankruptcy is similar to a regular application — only with a few extra steps. That way, when your bankruptcy discharges, you’ll be on the road to homeownership. 1.
For example, if a debtor had exactly $109.59 of "current monthly income" left after deductions and owed less than $26,300 in general unsecured debt, then the presumption of abuse would arise, [see If a presumption of abuse is found under the means test, it may only be rebutted in the case of "special circumstances", [ see 11 U.S.C. § 707(b)(2 ...
A bankruptcy discharge is a court order that releases an individual or business from specific debts and obligations they owe to creditors. In other words, it's a legal process that eliminates the debtor's liability to pay certain types of debts they owe before filing the bankruptcy case.
After bankruptcy, you must reestablish your credit profile, build good credit and manage your cash flow efficiently to avoid falling down the same pitfalls that lead to your initial bankruptcy filing.
Among the topics covered by the FRBP are adversary proceedings in bankruptcy, commencement of cases (by filing a voluntary or involuntary bankruptcy petition), how a creditor may file a proof of claim in bankruptcy or a petition for relief from automatic stay, the duties of the debtor, time periods for filing various types of motions, and the ...
Escrow funds: If there is any money left in your escrow account once your mortgage is fully paid, your lender should send you a check or direct deposit for those funds. Property deed: This ...