Smart Bankruptcy Guide » chapter 13 bankruptcy

Can I get student loans while enrolled in a Chapter 13 bankruptcy?

admin — Sun, 25 Apr 2010 13:00:17 +0000

I am currently in a chapter 13 bankruptcy repayment plan. I have some student loans that are included in this plan. Is it possible for me to take out additional student loans next year? I am going to graduate school and I cannot pay for school on my own. I have never missed a payment and I am repaying everything 100%.

You will probably not be able to qualify for private student loans, but you cannot be denied Federal student loans on account of your bankruptcy. You CAN be declined for Federal student loans if you are currently in default on other student loans you already have (but it sounds like you are not).

You will need the advance permission of the Ch 13 trustee before incurring new debt (including student loans). Most Ch 13 trustees will approve reasonable and necessary student loan borrowing.

Talk to your bankruptcy attorney about the details of getting permission from the trustee before taking out the new loan(s).

Can you start a website business while in Chapter 13 Bankruptcy?

admin — Fri, 09 Apr 2010 14:06:34 +0000

I am currently in chapter 13 bankruptcy, and I was wondering if I can start an internet business. I would like to start a Website and make me some extra money if it is possible, however I don’t know if it would affect my current Chapter 13 Bankruptcy in anyway. If possible, Does anyone have any GOOD ways to make money online. If you are going to be a smart ass please don’t respond to my question.

Get your girl friend/boyfriend/best friend to start the biz for you….use only paypal to accept payments, using an email address from your new domain…link PayPal to an account not listed in your bankruptcy.ie: go to a credit union and open a joint account with the person who is "starting the biz".

In 90 days it won’t matter any way. Once your bankruptcy is discharged, immediately make you r PayPal link to an account that is not joint.

Affiliate marketing high end business to business products from clickbank it the easiest way to make money on the internet…find a product getting high search volume now, put up a blog, review the product, and link to it through an affiliate link….I recommend you purchase google sniper for more on doing just that.

Does Chapter 13 Bankruptcy make it harder to get a job?

admin — Tue, 30 Mar 2010 15:20:40 +0000

If I lose my present job.Do employers look down on people who have filed chapter 13 bankruptcy? And is it harder to find employment.

yes this can hurt employment depending on the job you are going for. if it is an entry level position than probably not but if your looking for a really good job they will check your credit most likely and they will find that you filed for bankruptcy.

can you trade a vehicle that is included in on a chapter 13 bankruptcy?

admin — Mon, 22 Mar 2010 17:52:38 +0000

I have a 99 expediton that has a blown spark plug for a second time and i need reliable transport. It is not owned free and clear and is included in on my chapter 13 bankruptcy. I need to know if I can trade it off for more reliable transport?

You must get permission from the "referee" of your bankruptcy filing – check with the court and ask the bailiff if the Judge has named a "referee" for your filing. Its not normal that your vehicle was not taken for the amount owed on it. In any event is not yours to trade – and if the court granted this vehicle to you for transportation – you still need the pink on it in order to sell it or trade it. When you drive/tow your vehicle in to a lot to effect a down payment or trade on another vehicle, they first thing they’ll be doing is calling the "legal owner" listed on the registration – that will be the loan company – the loan company will explain the circumstances of your loan (its unpaid) and an outstanding amount must be paid in order to clear the title – then the new auto dealer will affirm or deny the amount based on your credit worthiness – how do you think you’ll rate?

can i be an authorized user on a credit card while in chapter 13 bankruptcy?

admin — Mon, 08 Mar 2010 18:13:48 +0000

my mom wants to give me a 1000 credit card limit for emergencies and wants to put me as an authorized user, not have the card in my name. can i do this while in a chapter 13 bankruptcy payback plan? i am in ohio.
i cant ask my lawyer becuase he retired. :/ im 2 years into my 5 yr payments.

This is a question you should ask your attorney, but since you are only an authorized signer and not a joint owner of the account, I don’t see a problem (but I’m not a lawyer, either).

Can you sue someone while in a Chapter 13 Bankruptcy?

admin — Sun, 14 Feb 2010 23:20:39 +0000

Wanted to know if you can sue someone if your in a chapter 13 bankruptcy. The injury would have happened a year after the filing of BK 13. Not yet discharged still have 2 more years left. Am I able to sue or do I have to amend my plan? Please let me know the law about this! Thanks a million

Bankruptcy does not affect your ability to sue if your rights are violated, but like any other unusual change in income, if you win anything in the lawsuit, the creditors may get it.

Chapter 13 Bankruptcy – How are the repayment figures calculated?

admin — Wed, 10 Feb 2010 02:55:01 +0000

I am thinking of filing for chapter 13 bankruptcy. I already have one judgment against me and I am worried another collection agency will be taking further action. How do they calculate the amount that the Trustee will accept for repayment? I am already paying close to $1000 for my unsecured debtors. I am concerned because I am going to have some large medical bills in the near future. Any help would be appreciated. Thanks.

Caveat: This is an oversimplified answer -

Secured debt on your house is based on a repayment plan of 3 to 5 years applied to the amount delinquent at 0% interest. (You can repay any delinquencies over 3 to 5 years at 0% interest on top of your regular mortgage obligations.)

Secured debt on cars, boats, planes, etc., may be bifurcated into the secured and unsecured portion. Secured portion remains. Unsecured can be discharged (rare event).

Unsecured debt is usually paid back at the rate of approximately 75% of the amount owed.

So, if you can afford this type of payment schedule, then Ch 13 is utilized. Otherwise, Ch 7 is on the table and the formula for that is different.

In the meantime, convert all "non-exempt" assets to "exempt" assets.

If i buy a brand new car and 2 months later i file for chapter 13 bankruptcy can i keep the car and still pay?

admin — Sun, 31 Jan 2010 19:56:14 +0000

I want to buy a new car before i file for chapter 13 bankruptcy but will that ruin the chances for them approving them ?

If you have the ability to buy a new car before filing for bankruptcy, you are not bankrupt and will probably not pass the means test.

what happens to my security deposit when my apartment owner files a chapter 13 bankruptcy?

admin — Fri, 29 Jan 2010 14:09:51 +0000

my apartment owner filed a chapter 13 bankruptcy, i think he is giving ownership to the bank, so what happends to my security deposit? Does he give me it back or anything,, thanks

You go on the list of debtors just like everyone else. I’m not sure where you fall in the pecking order, it’s possible you’ll lose it or have to wait 8 years to get it back (which is about the same).

When the bank takes the building, ask them if your deposit is still good. They might cover it.

How do you convert a Chapter 13 bankruptcy to a 7 in Oklahoma?

admin — Sun, 24 Jan 2010 23:09:01 +0000

How do you convert a chapter 13 bankruptcy to a 7 in Oklahoma if you dont qualify or make too much to do a 7? I may have to do a 13 soon but Im concerned with what I read about people not being able to make their payments to the trustee.

I don’t know about Oklahoma, but here in the Southern District of California we just file a one page form signed by the debtor, and the case is automatically converted and reassigned to a Ch. 7 trustee. There will be other things to file, for sure, like updated Means Test and Schedules I & J. A new creditor’s meeting is scheduled. Check with a local attorney, or start by checking the local bankruptcy court’s website. Some of them are really helpful.