What happens if mortgage is not reaffirmed?

Reaffirming the debt gives it new life -- you're once again legally obligated to pay it. If you don't make the mortgage payments, the lender can foreclose and your bankruptcy won't stop this from happening.

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Order Discharging Debtor After Completion of Chapter 12 Plan -...

San Diego California Order Discharging Debtor After Completion of Chapter 12 Plan - updated 2005 Act form

Name: San Diego California Order Discharging Debtor After Completion of Chapter 12 Plan - updated 2005 Act form
Brand: US Legal Forms
Rating: 4.68 (332 reviews)

Category:

Bankruptcy - Discharges

State:

Multi-State

County:

San Diego

Control #:

US-B-18F

Format:

Instant download

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Public form

Description

The form provides that the debtor is granted discharge under 11 U.S.C. section 1228(a). The form also requires a signature by the bankruptcy judge.

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How to fill out San Diego California Order Discharging Debtor After Completion Of Chapter 12 Plan - Updated 2005 Act Form?

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FAQ

Can a debt collector try to collect on a debt that was discharged in bankruptcy? Debt collectors cannot try to collect on debts that were discharged in bankruptcy. Also, if you file for bankruptcy, debt collectors are not allowed to continue collection activities while the bankruptcy case is pending in court.

Reaffirming the debt gives it new life -- you're once again legally obligated to pay it. If you don't make the mortgage payments, the lender can foreclose and your bankruptcy won't stop this from happening.

The bankruptcy is reported in the public records section of your credit report. Both the bankruptcy and the accounts included in the bankruptcy should indicate they are discharged once the bankruptcy has been completed. To verify this, the first step is to get a copy of your personal credit report.

If you decide to reaffirm a debt, you must do so before the discharge is entered. You must sign a written reaffirmation agreement and file it with the court. The Bankruptcy Code requires that reaffirmation agreements contain an extensive set of disclosures.

Reaffirming a debt allows you to keep the property securing the debt, which can be a real advantage in some cases. It also allows you to avoid having to come up with a lump-sum payment to keep the property.

Following a bankruptcy discharge, debt collectors and lenders can no longer attempt to collect the discharged debts. That means no more calls from collectors and no more letters in the mail, as you are no longer personally liable for the debt. A bankruptcy discharge doesn't necessarily apply to all of the debt you owe.

Once filed, a Chapter 7 bankruptcy typically takes about 4 - 6 months to complete. The bankruptcy discharge is granted 3 - 4 months after filing in most cases.

The court can either dismiss it or discharge it. According to the United States Courts, the goal should be a discharge because this means the court accepts your bankruptcy case and forgives your debts. A dismissal occurs when something goes wrong with your case and the court is unable to finalize the bankruptcy claim.

If for some reason you realize that you forgot to add a creditor after you have already filed, your attorney can help you understand your options. Generally, adding debts after a bankruptcy is filed is allowed so long as the debt existed before you filed and it is added within a certain amount of time.

A lender may offer you a chance to reaffirm the loan because it would prefer you to continue paying back the loan. A reaffirmation agreement can be advantageous to you because: You will keep the vehicle; You may be able to negotiate more favorable terms for the loan; and.

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In a Chapter 13 bankruptcy case, the discharge order is issued upon your successful completion of the repayment plan. Required for all PHAs completing this form that administer public housing and receive funding from the Capital Fund Program (CFP).Superior Court of California. County of San Bernardino.

San Diego California Order Discharging Debtor After Completion of Chapter 12 Plan - updated 2005 Act form

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How to fill out San Diego California Order Discharging Debtor After Completion Of Chapter 12 Plan - Updated 2005 Act Form?

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FAQ

Can a creditor collect on a discharged debt?

What happens if mortgage is not reaffirmed?

How do I know if my BK is discharged?

Can I reaffirm debt after discharge?

Why would a debtor want to reaffirm a debt that would be discharged?

What happens after bk discharge?

How long does it take for BK to discharge?

What is the difference between bk discharge and BK dismissal?

Can I add a debt to my Chapter 7 after discharge?

Can I reaffirm car loan after discharge?

Interesting Questions

What is the purpose of form 558936 under the updated 2005 Act?

What does it mean to discharge a debtor?

Who is eligible to use form 558936 in San Diego?

What is Chapter 12 plan?

How can debtors obtain form 558936?

Are there any conditions or requirements to be met for discharging a debtor in San Diego?

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