If you have a bankruptcy, creditors will be delivered to the disposal of assets of the debtor.
Debtor’s property, including residential housing and the debtor can not be guaranteed. In most cases, it is the mortgage payment.
Able to pay off the debt to the money from the housing price has been a decade ago.
But now, land prices and real estate prices plummeted as the family has not been sold to pay off the mortgage.
The Act established the following rules to protect such personal bankruptcy.
“Property prices increased by 1.5 times the total debt and cancellation of mortgage assets, without any other conditions.”
In the foreclosure of residential real estate loans, but who is willing to sell your house to sell life issues.
Housing will be deleted, it will be unable to recover from the mortgage to make up.
If you want to deal with the abolition of the debtor at the same time, have documented the value of the debtor’s property must be submitted to the court.
According to the document, the court found that the value of the property. Documented the value of the house, so the cost is very high and demands of real estate appraisers, real estate agent is a city made the proposal.
Bankruptcy matters, of course, people who need the money. Therefore, the cost of insolvency proceedings have been kept to a minimum.
Now I summarizes the cost of the proceedings.
Also removed ①
● stamp fee
USD 1,500
● Postage
4000
● Prepaid Friday
15,000 yen
② In the case of the Trustee
● Stamp Duty
USD 1,500
● Postage
14,100 U.S. dollars
● Friday prepaid see below
Less than 50 million U.S. dollars of debt
Japan 700,000 U.S. dollars
Personal 500,000 U.S. dollars
● ~ 50 million U.S. dollars to 1 billion in total debt reduction
100 U.S. dollars in Japan
Personal 800,000 U.S. dollars
~ ● Less than 100 million U.S. dollars 500 million U.S. dollars of debt
200 U.S. dollars in Japan
1.5 million individuals
● ~ less than 5 billion dollars in debt 10 million U.S. dollars the following
Japan’s 300 million U.S. dollars
2.5 million individuals
Tags: bankruptcy, deal, mortgage