What is a Motion for Relief from Automatic Stay?
If you are in an active Chapter 7 or Chapter 13 bankruptcy and you have secured debts, such as a mortgage on a home or a loan on a vehicle, or ongoing lease payments, there is a chance that you could receive notice of a Motion for Relief from Automatic Stay. A motion for relief […]
I paid in money to the trustee in my Chapter 7 because of unexempt assets. What happens to my money?
I paid in money to the trustee in my Chapter 7 because of unexempt assets. What happens to my money? First, what are assets? Assets are items belong to or owed to you at the time your bankruptcy case was filed. There are exemptions for protect most property however sometimes there is unexempt assets that […]
What if I cannot appear at my 341 Meeting of Creditors? What if I cannot complete my Credit Counseling Course? What if I cannot complete my Financial Management Course?
What if I cannot appear at my 341 Meeting of Creditors? What if I cannot complete my Credit Counseling Course? What if I cannot complete my Financial Management Course? What if I cannot appear at my 341 Meeting of Creditors? The simple answer is it depends. Why are you unable to appear? Many debtors have […]
Yes, even though the creditor charged the debt off, it does not mean the debt won’t be collected. The creditor might have sold the debt to a collection agency or is in the process of transferring the debt to another creditor. Debt never goes away. Even if you don’t hear from a creditor for several […]
Yes, they can, the debt is still owed no matter how old it is. The creditor even could sue you, and if you would not respond or would not rise the statute of limitation defense, the creditor would obtain a judgement against you.
If you find any open accounts on your credit reports that have a zero balance, you need not include them in your bankruptcy filing. However, make sure that you close these unused accounts to prevent any future finance fees and to clean up your credit. Consider it your first step toward establishing a better credit […]
Yes, you should both. It is better to list more possible creditors than too few. Often, it is not known to the debtor if the collection agency owns the debt or is only collecting for the original creditor who might be in the process of hiring another collection agency. It is always good practice to […]
Answered by Bankruptcy Attorney in St. Louis Missouri Tobias Licker: In a chapter 13, it is important to know the correct amounts of your secured debt you will pay in your chapter 13 plan, and also of the unsecured creditors if you repay them in full (although this doesn’t happen very often). If you are not […]
On Schedule F you must list everyone to whom you owe a debt, even those you have already partially repaid. Creditors have to be listed in order for the bankruptcy court to notify your creditor about the bankruptcy filing and subsequent discharge of your debt. When your attorney submits your petition to the court, you […]
Your list of creditors in your bankruptcy filing should be accurate and complete. The bankruptcy court defines a creditor as any person or company to whom you owe money. A creditor can be your bank, your health club, or even your parent. While a secured debt is tied to an asset, such as an automobile, […]