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How Do I Continue Paying on My Car or Mortgage After I Have Filed but Before the Reaffirmation Is Filed with The Court in Minnesota?
Once your case is filed, an automatic stay goes into effect. The automatic stay is a court order mandating that none of your creditors can continue collection actions while your bankruptcy is pending.
Read MoreHow Do I Stop or Postpone the Foreclosure of My House?
In general, you have 4 options in order to delay the date of the foreclosure sale and which one you choose depends on what you wish to accomplish, the first 3 I’ll mention assume you wish to keep the house, the last option assumes you wish to let the house go, but stay in it as long as possible:
Read MoreWhat Is Mortgage Modification and An Automatic Stay?
Mortgage modification is not part of bankruptcy. When we talk about mortgage modification, this is something that is relatively new. In general a mortgage modification is when your lender determines whether they will allow you to change the terms of your mortgage and modify it.
Read MoreWhat Is the Role of A Bankruptcy Trustee in Chapter 7 Bankruptcy?
A chapter 7 bankruptcy trustee is a lawyer hired by the court and appointed to chapter 7 bankruptcy cases that are filed in a particular county or jurisdictions. The role of the chapter 7 trustee is to review the documents filed by the debtor and in chapter 7 to make sure that the assets are properly listed and that the exemptions claims are appropriate under the circumstances.
Read MoreWhy Does Bankruptcy Have Negative Stigma Attached to It?
When credit became readily available, in the 1950s and 60s, it was really a badge of honor. It was something you had to earn. Credit was not extended to everyone it was not prevalent so you really had to control your expenses and have a good income.
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