What is better Debt settlement or bankruptcy 13?

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Debt settlement by far. If you go through bankruptcy, you may still owe and have to pay the debts, AND you will have this ugly mark on your credit rating that will haunt you for the next seven year or longer. Best option is not to go into debt. Pay cash whenever possible.
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How do you get a lien removed from a property deed if the debt was paid off in a chapter 13 bankruptcy?

You must have the lien avoided in the bankruptcy court. This has to happen before the bankruptcy case is closed or you have to petition to have the case re-opened. LIENS SURVIVE BANKRUPTCY UNLESS YOU SPECIFICALLY MOVE TO HAVE THEM AVOIDED. Let me add to the last post. Most of the time, the creditor (MORE)

Is it better to file bankruptcy on credit card debt or get a home equity loan?

This is a technical question that only a lawyer would be able to help you with. Anything, though, is better than bankruptcy, so if you think you have enough equity in your home, then it would probably be the wisest decision. It depends on what your priorites are. If you believe that you are liable (MORE)

Can you add a debt after the discharge of bankruptcy?

Answer . Generally, if you forgot to put items in a Chapter 13 case or a Chapter 7 ASSET case, then you are stuck if you fail to add those creditors before the case closes. If you forgot to put items in a Chapter 7 NO ASSET case, then you can usually file a Motion to Reopen the case (for which t (MORE)

Can you add credit cards to your bankruptcy if you are already doing debt settlement but nothing has been settled yet?

Answer . Yes. Putting credit cards into debt settlement does not make those debt non-dichargeable in bankruptcy. You can list all credit cards in your bankruptcy, even ones in a debt settlement program.\n. \nPlease note that nothing in this posting or in any other posting constitutes legal ad (MORE)

Would it be better to join a debt settlement program or just get a loan to pay off your 22000 in credit card debt?

Many of the large financial institutions are no longer working with any debt settlement companies or law firms. Some of the big banks are immediately sending accounts off for legal action. I work for a global bank, if we received notification of representation by a debt settlement company along with (MORE)

Being in a Chapter 13 bankruptcy and receiving money for a personal injury settlement two years after filing do you have to by law turn that money over to the Trustee or bankruptcy attorney?

Answer . Why aren't you asking your bankruptcy attorney? It depends on the amount and what the award is for. And the details may depend on what bankruptcy court your 13 is in. You may be able to use the money to prepay your 13 plan and get out of bankruptcy. The money would go to you, not the ba (MORE)

Is debt consolidation better than bankruptcy?

Yes - consolidating debt into a repayment plan or option shows you are taking positive steps to address debt and pay it off - although your credit score may be low it should improve as you tackle the outstanding loan sum. However a bankruptcy indicates you have no funds to pay off your loans - as (MORE)

Would it be better for you to consolidate through a debt consolidation service verses chapter 13?

I have never filled chapter 13 but i will tell that i have been using a debt consolidation company for about 7 months and the have done nothing not one thing exept cause more pain and suffering and loss of wadges. they have compleatly messed up my whole life credit everything ruend gone. So if i wer (MORE)

How in debt do you have to be to file bankruptcy?

There is no limit to the debt you owe for filing bankruptcy. Chapter 13 may not be available if you owe a large amount. Since the amount changes from time to time, you will have to look it up on your bankruptcy court's website.

Can you file bankruptcy on new debt?

Generally nothing with in 90 days of filing, and of course anything you do, even for many years before filing, if done in anticipation of filing, or to give a preference to a creditor over another, can be challenged.. And you understand, you go BK on everything you owe and everything you own...you (MORE)

If you get evicted are you responsible for debt after bankruptcy?

This can get complicated, but the main question is, was the rent past due when you filed the bankruptcy? If so, was the landlord included in the list of creditors? If so, in most cases, rent due as of the date of filing was most likely discharged. Any rent, or "use and occupancy" in lieu of rent, fr (MORE)

Can you file for bankruptcy for foreign debt?

Yes. The issue is enforcement. Bankruptcy doesn't make debt disappear. Instead, a discharge operates as an injunction against collection efforts. If the foreign creditor tries to enforce the debt against you here in the states, that would be a violation of the discharge injunction. Of course, U.S. l (MORE)

Can you add existing debts to your bankruptcy that were created after you have filed chapter 13?

You have a serious problem: You are in contempt of court and may well be subject to all types of legal processes and have your BK dropped. You need legal help immeadiately.. YOUR AGREEMENT WITH THE COURT UNDER C13 WAS THAT YOU WOULD NOT INCUR ANY ADDITIONAL DEBT, OR CHANGE YOUR FINANCIAL SITUATION (MORE)

Can you file bankruptcy on secured debts?

Absolutely...in fact if you file BK you must include them EVERYTHING you own and EVERYTHING you owe is included in the BK and must be reported. They are given different classes, some debts can't be discharged and some assets cannot be taken, and the assets are used to pay the liabilities. YOU CANN (MORE)

Is debt consolidation a better than bankruptcy?

Answer Bankruptcy is a complicated process and it should be a last resort as it will damage person's credit for up to 10 years. Consolidating debt is always a better way to solve debt problems and protect the financial future. Bills has information and interactive tools to help consumers navigate t (MORE)

What if you forget a debt when filing bankruptcy?

Well one very real possibility is that you can be prosecuted for fraud (or contempt of court), because you swore, (numerous times and places) that you provided all that info to the court and made reasonable actions to make sure you did. Depending on whether the case is still pending or resolved, and (MORE)

What is better debt settlement or consolidation?

Hello There, Honestly it depends on your financial situation. In nutshell 1. If you are paying all your monthly payments on time, you think the interest rate is very high, You are VERY concerned about your credit scores, you dont mind paying the complete amount.... just want the interest rates (MORE)

What is considered secure debt in bankruptcy?

Doesn't it say "secured" debt - not secure?. That is debt that has a direct legal connection, normally a lien, to some asset. Normally a car loan is secured to the financed vehicle, a mortgage to a house, etc.. Listen...if you didn't understand that term...and understand it can take many, many dif (MORE)

Does debt vanish after Bankruptcy?

A basic, rough primer:. BK is always done under FEDERAL Laws, in a Federal Bankrutpcy Court. Basically State makes little difference. (Yes the BK Courts operating in certain areas have certain special exemptions and such, minor in the overall, generally intended to make things adhere to the local l (MORE)

How can you collect debt after bankruptcy?

As a creditor? The debt doesn't exist anymore, so you have nothing to collect (presuming it was in the BK and discharged). You can't collect it and it is illegal to try....if you believe fraud was committed or such in thr BK (like he hid assets that could have been used to pay you), bring it to the (MORE)

How much debt to declare bankruptcy?

You should declare all of it. The bankruptcy fee for debts over £15,000 is £700 (inclusive of deposit, and court fees), so you may as well include everything. Some debts are not written off in Bankruptcy however. Take advice from a formal advice agency or check out pros and cons before applyin (MORE)

Bankruptcy or Debt Settlement?

A bankruptcy will be listed and hold your credit score down for 10 years, while the delinquent payments incurred while enrolled a Debt Settlement program will be there for only 7 years (and in some instance, even less). So at a minimum, your credit report will be cleared at least three years earlier (MORE)

What debts does bankruptcy remove?

Easier to say which are prevented from discharge...although being allowed does not mean being allowed and done in every case.. Gov't debts, Child Support, most civil type penalties and fines, Gov't insured student loans.

What debts get discharged in chapter 13 bankruptcy?

There is an excellent book that provides both a thorough perspective and key detail about chapter 7 and chapter 13 bankruptcy:. "The New Bankruptcy, will it work for You?" 3rd edition, by Stephen Elias (published in 2009 by Nolo). I found it in the public library for Colorado Springs at 346.078 E42 (MORE)

When in a chapter 13 bankruptcy for more than 4 years and receiving money for a 100 percent disability that happened after filing bankruptcy can bankruptcy take the settlement?

"Bankruptcy" does not take anything. The Chapter 13 Trustee is the one who "takes" anything there is to be taken. And, no, your settlement - if you mean a retroactive check for disability (SSDI) - is not available to the trustee. If you are talking about a settlement of a lawsuit, probably not, unle (MORE)

What worse bankruptcy or debt relief?

If you have a pile of unpaid credit card bills and simply can't pay the total amount due. Then you have two options for dealing with the debt you've accumulated: liquidation or bankruptcy. When you declare bankruptcy, you're asking court to wipe your financial slate clean.

Can college debt be included in a bankruptcy?

No. Educational loans will remain with your during and after the bankruptcy is completed. This holds true regardless of whether you decide to file for Chapter 7 or Chapter 13 bankruptcy.

Do you have to list all debts in a bankruptcy?

Absolutely. This does not mean that all your debts will necessarily be discharged in a bankruptcy proceeding (such as student loans, judgments, etc) but you need to list all types of incomes, debts and any other relevant financial information.

Can the bankruptcy trustee take a personal injury settlement after filing a chapter 13?

Yes. The injury lawsuit must be disclosed in the BK schedules. If it is of nominal value, the trustee may abandon it. If there is serious money however, the trustee can prosecute the lawsuit and keep the proceeds of any settlement to pay off creditors. Depending on the exemptions your specific state (MORE)

How much debt do you have to be in to claim bankruptcy?

The actual amount varies from situation to situation, but the general rules used to consider claiming bankruptcy are summarized as follows: * The amount owed to creditors must be greater than that held in marketable assets (e.g., bank accounts, car, 401k, etc.) * The income (after taxes and requ (MORE)

Is it better to file bankruptcy or do a debt consolidation?

Of course, it's up to you to decide, but I think that it's much better to apply for debt settlement provided by debt consolidation companies rather than file babcruptcy. The most important reason for this, as for me, is the possibility of saving your credit report undamaged. Well, sure if you file b (MORE)

What debt cannot be discharged by bankruptcy?

All unsecured Debt may be discharged in chapter 7,(credit cards, personal loans, and others) secured debts (such as car loans and mortgage), and other assets will be taken by the estate, and will be used to repay the creditors, it is very important that you discuss this with your attorney if you are (MORE)

Can new debt be collected after bankruptcy?

Yes, the debts protected under a bankruptcy proceeding are enumerated when bankruptcy is filed. Any debts accrued by the bankrupt party in the future are not protected by a previously filed bankruptcy.

What types of debt is not discharged in bankruptcy?

Q: Are all of the debtor's debts discharged, or only some? A: Not all debts are discharged. The debts discharged vary under each chapter of the Bankruptcy Code. The Code specifically excepts various categories of debts from the discharge granted to individual debtors. Therefore, the debtor must s (MORE)

Can my Debt Settlement amount be included in my bankruptcy?

Your best bet is to cancel your plan, and file bankruptcy. To have both is a bad bet. Most debt settlement claims aren't very useful in the long run, and you'll probably end up bankrupt either way, unless a lump sum is paid. There will be consequences to canceling, but it will probably outweigh the (MORE)

Is Debt Settlement easier than bankruptcy?

It depends on the amount you in your debt. If your debt is a large sum and figure, the best and most ideal thing would be to declare bankruptcy. If not debt settlement would be much easier.

What is mean by Debt and Bankruptcy?

Debt is what you owe others for money the lent you expecting to be repaid by you. Bankruptcy is a federal legal court system that allows debtors to get a discharge, which prevents creditors from taking any action to collect the debt. It does not prohibit you from repaying the debts as and when you c (MORE)

Can you claim bankruptcy on IRS debt?

Filing for bankruptcy is one of five ways to get out of tax debt,but you should consider bankruptcy only if you meet therequirements for discharging your taxes.

Is it better for an individual to file chapter 7 chapter 11 or chapter 13 bankruptcy?

If you're a farmer, chapter 12 would be best. Otherwise, for an individual, you may have to file a chapter 13 if your income less standard deductions is more than the median income for your state or area as determined by the IRS. The "Means Test" document you have to complete will tell you that. A c (MORE)

What is the difference between debt settlement vs bankruptcy?

There is a subtle difference between debt settlement and bankruptcy. Debt settlement allows a person to pay off some of their debt with their creditors. Bankruptcy claims do not result in payment of the debt. Either practice creates bad credit scores for the consumer.