Ask Experts Questions for FREE Help !
Ask
    darkhorse's Avatar
    darkhorse Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 12, 2006, 05:52 AM
    Q 1. are you entitled to any benefits or pensions after being bankrupt?
    Q 2.can you open a basic bank account after being bankrupt?
    Q 3. are all the debts cleared after being bankrupt even if the debts are extremely high altogether?

    Would you be allowed to use a family members bank account after being bankrupt?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Feb 12, 2006, 08:01 AM
    Hello, first unless the laws changed recently, you can have a bank account and go bankrupt, you may have a checking and even a small savings account and not give them up or loose them.

    You can open a new checking account after you go bankrupt ( not every bank will let you) Now if you had a lot of bad checks in the past, then they may not let you have an account) and some banks may not let you have one, but that is a bank by bank rule

    Most debts will be cleared in a bankruptcy, some debts such as student loans can not be normally, some debts owed for court fines can not be.
    There are specific rules according to the debts. Also debts for presumed fraud of a credit card company may not be.

    A bankruptcy does not pay you a pension, not sure what you are talking about, if you were allowed to get a pension before bankruptcy, you are still allowed after.

    Each persons debt is different, most bankruptcy attorneys allow you to meet with them free for a consultation. You may wish to do that and they can give you more detailed information about it.

    They will need to know each debt you have, when the debt started ( time you borrowed the money) total amount due. They will also need a list of all the money you have, the income you have and so on.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Tax Benefit Question - Should I Buy or Continue to Rent? [ 11 Answers ]

Hello everyone. I'm new here and hope to get some replies. I hope this is the right place to post my tax benefit question. I'm thinking of buying my first home; the property is in the Northern Virginia suburbs of Washington, DC and priced at $375,000. My total household income is about $8520 a...

3rd Party Legal Entitlement on Unsecured Debt [ 10 Answers ]

Hello, Even though this is my first post on AskMeHelpDesk, I have frequented the site on a semi-regular basis. Generally, my questions are already answered. But, I think I have a problem with this one. :confused: I have an Unsecured Debt, (Credit Card), that was charged off and sold to a...

Any benefit from Removing Hardware ? [ 13 Answers ]

Hi, I just got delivered a new Destop Dell Dimension 9150 PC, with among other thing an IEEE Firewire 1394 PCI card & 56K PCI Data/Fax Modem card which I don’t need at all. My question is : if I de-install properly theses cards “drivers etc ” and remove the cards, will the PC benefit even ...

Business Fringe Benefit Question [ 2 Answers ]

Question - I am an s-corp and would like to offer free gym membership to my employees as an employee benefit. How would that be classified on my books and what would the tax implication of that be?? Is that taxable income to my employees? Thank you for your advice.


View more questions Search