Jan 19, 2017 … At what point does your property become yours again after a Chapter 7 bankruptcy? Is it the discharge date? You might be surprised.
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With the approval of the bankruptcy trustee, you set the amount you pay your creditors … the debtor loses all of his or her nonexempt assets and receives a Chapter 7 discharge. … When is filing Chapter 13 more preferable to a filing Chapter 7? … nonexempt property which would be sold off in a Chapter 7 Bankruptcy filing.
whatever debt is still left will be forgiven or discharged. However in most cases, most people who file a Chapter 7 Bankruptcy in bakersfield petition retain all of … or having property or a place of business in the United States may file a Chapter 7 … You will go with your attorney to a 'meeting of creditors' where you will meet …
A judgment lien on a home can affect its title history, often making the home difficult to sell … your bankruptcy discharge. Make sure you know about any judgments against you and your house …
If you sell your house for more than your purchase price, you will make a profit. But the borrower may be thinking that he doesn't have to pay it off because the loan was discharged in bankruptcy.
If you have debts that you can't pay, bankruptcy can help you find relief. … Are there any debts that are not discharged (wiped out) in a bankruptcy? Yes. … After you file bankruptcy, it can stay on your credit report for up to ten years. … It involves a liquidation of assets, meaning property is sold by the trustee to pay your debts.
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After bankruptcy, your lender can initiate or continue with foreclosure proceedings if your mortgage is in default. However, you can also attempt to sell the property at this time, regardless of the status of your mortgage. If you can find a buyer who is willing to pay at least your mortgage balance…
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You can't sell your home without the court's express permission. Often court will order a home sale as a stipulation of the bankruptcy – this typically happens when the house is a significant asset and Once the court abandons an asset, you're free to sell it even if the bankruptcy is not yet discharged.
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Apr 28, 2017 … Having judgment liens against your home can make it difficult to sell and it can mean you … You should also be aware, however, that certain liens such as mortgage or tax liens are usually not avoidable. … When you file a personal bankruptcy, it is important to understand that the … Bakersfield, CA 93309.
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And you finally received your Order discharging your debts. Can you sell your house now? Or your car? The reason for this is that the trustee's right to sell (liquidate) assets is independent of the granting of your discharge. The Trustee retains his/her rights until either.