Who qualifies for bankruptcy?

Updated: 4/28/2022
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13y ago

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There were substantial changes made to qualifications for bankruptcy in 2005. To qualify for bankruptcy you must meet a number of different requirements which vary greatly depending on the type of bankruptcy the individual or corporation is attempting to file for. Factors that are taken into consideration include current occupation and salary, monetary amount of debt, property owned, etc. The attached article lists for specifics per type of bankruptcy.

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bobo's mother qualifies for bankruptcy

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Q: Who qualifies for bankruptcy?
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What qualifies you to declare bankruptcy?

There are General Federal Laws that govern Bankruptcy. Each state may have additional laws regarding bankruptcy. So Is Best to consult an attorney or financial adviser in your state.

In my settlement lump sums come every 5 years can the bankruptcy court take from me?

Sure. It is currently an just don't have the cash yet. Added: Check into this with the bankruptcy judge or ask the Clerk of The Court's office. There are SOME streams of income that are judgment free in a bankruptcy. You will have to check further to see if your particular one qualifies.

Should you consider refinancing if your only other option is bankruptcy?

That would be dependent on the amount of debt you have accrued that you think qualifies you for bankruptcy. Refinancing is of course possible, and may allow you to pay off all of your debts at once, depending on the amount you owe. You should contact a professional with options.

If a bank has been advised that you are filing chapter 7 bankruptcy in Ohio but will reaffirm the car loan can they still repossess the vehicle?

Yes, many loan agreements have a clauses that allows them to call the note due and/or repo the vehicle if there are any singnificant changes to your credit status. Bankruptcy certainly qualifies.

What are the Business bankruptcy laws?

Chapter 11 is for corporations or other legal entities, or individuals with more debt than qualifies for a Chapter 13. Otherwise businesses file Chapter 7 the same as individuals.

What should you do if your attorney advises you to amend your bankruptcy schedule before the Motion to Dismiss hearing?

The bankruptcy petitioner retained an attorney as legal counsel and representation, therefore it would be in his or her best interest to follow the advice given. It is possible for a MTD to be dropped if the petitioner can present the court trustee with a filing schedule that qualifies for the type of BK that is in question.

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What qualifies a question as poor?

A question qualifies as poor if it adds no value and is designed to waste time.

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doré if it qualifies a masculine noundorée if it qualifies a feminine noundoré, doréedoré(e)

You owe your sister money can you file bankruptcy on that loan?

If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.

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