Chapter 13 bankruptcy, also known as a wage earner’s plan, is a type of bankruptcy filing available to individuals with a regular income. Unlike Chapter 7 bankruptcy, which involves liquidating assets to pay of
Chapter 13 bankruptcy differs from Chapter 7 bankruptcy in that the debtor retains control of his property. As such, Chapter 13 debtors are free to list the home and negotiate with potential buyers during the debt repayment period agreed with the court. However, any offer accepted is co...
If you filed for Chapter 13 bankruptcy, it could take a few years (usually three to five years) for your debts to be deemed discharged, so it'll be a couple of years before you can apply for a new line of credit. Otherwise, you can seek approval from the court to apply for a new...
It's usually better to wait until the bankruptcy filing is complete to take out a loan, if possible. Generally, a Chapter 7 bankruptcy is completed in four to six months, whereas a Chapter 13 bankruptcy takes up to five years to complete. Even after your bankruptcy file gets discharged,...
Chapter 7 bankruptcy is the most common way to file bankruptcy. The process often involves a government liquidation of your assets to pay off your debts. Eventually, any remaining debt may be discharged, but you’re typically responsible for paying as much of the remaining debt as possible. ...
In Chapter 7 bankruptcy cases, a trustee can seek permission from the court to reopen the case after it is closed and your debts are discharged in order to seize more property from you. Although this may seem unfair, the courts allow this practice if the trustee is able to show you faile...
Capital One Quicksilver Approval after Ch 13 Bankruptcy Hello Everyone, I am new to the myFICO family after stalking the community posts for a couple of months. I filed for Ch 13 on June 1, 2018 and it was Discharged on July 29, 2024. It now feels so great having no cre...
Bankruptcy Court in New York, Giuliani said he had between $100 million and $500 million in liabilities and $1 million to $10 million in assets. A spokesperson for Giuliani, who no longer works as Trump's lawyer, said the bankruptcy filing will give him time to appeal...
In the case of a Chapter 13 bankruptcy, the debtor pays disposable income into a monthly “plan” to pay creditors. “In this case, there is typically a continuing obligation of the debtor to file timely taxes and provide the returns to the trustee, and to turn over all refunds for payme...
Fact No. 1: People qualify for a home loan 2 years after a chapter 7 or 13 discharge. There is no "lender punishment" for people who file for bankruptcy. According to FHA, VA, Fannie Mae, and Freddie Mac documents, the two-year waiting period is in place so they can see if the ...