| Subject | Date Asked | Expert |
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| chapter 7 | 11/21/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: If I file for chapter 7 bankruptcy will they take my tax returns every year to pay off my creditors ...
A: I believe you mean tax refunds. The tax RETURNS are required to be provided for the most recently ...
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| schedule j | 11/21/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: In filling for bankruptcy, should schedule J (current expenditures)and I (current income)include ...
A: They are supposed to be a snapshot of the figures on the date the case is filed, but there is also a ...
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| credit card | 11/21/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: What can credit cards do if someone has high balances and stops paying them because of lack of funds ...
A: They can do what any other creditor can do. They can file a lawsuit, obtain a judgment, then try to ...
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| Chapter 13 discharge and sale of house | 11/20/2008 | Terry Leeders |
Q: I filed for Ch 13 in April 2005. My plan was for 42 months - it's now close to the end of Nov 2008 ...
A: Your case could be running longer if your claims came in higher than estimated. You should request a ...
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| Filed Chapter #7 now can't keep payment on home paid | 11/20/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: My husband and I filed chapter #7 two years ago. We signed to reaffirm our home. Now my husband is ...
A: I'm very sorry to hear about your situation. You have my deepest sympathies. Unfortunately, if ...
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| Line of Credit Bankruptcy | 11/19/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: I have a line of credit taken out on a house in 2006. The lender failed to record a lien or deed on ...
A: I would check with a real estate attorney regarding the laws of whatever state you're in to make ...
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| can i refile chap 7 if judge kicks it back? | 11/18/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: Can i refile chap 7 if the judge kicks it back due to incorrectly claiming items on the means test? ...
A: You need to find an attorney. This is way beyond your ability to figure out on your own. It has ...
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| Consolidated loan, ex-wife filing bankruptcy | 11/17/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: My ex-wife and I both make monthly payments to Sallie Mae on a consolidated student loan. When our ...
A: It would only affect your credit rating if you are legally obligated to make payments on that (or ...
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| BANKRUPTCY | 11/17/2008 | Terry Leeders |
Q: I live in maryland I want to do a bankruptcy. I qualify for ch. 7 and I have not used my credit ...
A: No. The creditors can object for recent usage right before filing, but the fees and interest are not ...
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| BANKRUPTCY | 11/17/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: I live in maryland I want to do a bankruptcy. I qualify for ch. 7 and I have not used my credit ...
A: If being over your credit limit was solely because of late fees and interest, that should not affect ...
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| BANKRUPTCY | 11/17/2008 | Leon D. Bayer, Esq. |
Q: I live in maryland I want to do a bankruptcy. I qualify for ch. 7 and I have not used my credit ...
A: 1. I have never seen a fraud allegation raised solely because of late fees and over limit fees. It ...
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| bankrupty and rentals | 11/16/2008 | Terry Leeders |
Q: My rentals and bed and breakfast properties are my source of income. There is no equity at this ...
A: If you do chapter 13, you can keep them all, since you are paying back debt to protect the assets. ...
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| Los Angeles BK | 11/16/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: My husband and I own a home in Los Angeles which we purchased when I was earning a significant ...
A: Trustees do not make determinations as to whether a case is "approved" or not. There is not enough ...
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| Bankrupcty IL-tax refund/house | 11/15/2008 | Terry Leeders |
Q: I have several questions about bankruptcy in the state of IL. We are well below the means test for ...
A: A tax refund is an asset in the bankruptcy case, and you can only use a wildcard exemption to ...
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| student loan/2 weeks of class | 11/14/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: I am in a state of financial ruin. Medical bills and credit card debt, pay day loans and a student ...
A: Student loans are not dischargeable in bankruptcy unless you prove at trial undue hardship, which is ...
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| Re-Open Chapter 7? | 11/14/2008 | Terry Leeders |
Q: Our Chapter 7 was discharged in May 2006 (Michigan). We were able to keep our house. However, my ...
A: Normally no. If you signed a reaffirmation agreement, the agreement must be rescinded the later of ...
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| Should I file for bankruptcy? | 11/13/2008 | Terry Leeders |
Q: I lost 3 houses to foreclosure. I live with my partner, drive his car for work, have almost nothing ...
A: That is a call you need to make. You need to look at your income/expenses to see if it makes sense ...
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| Foreclosure with a Current Chapter 13 plan | 11/12/2008 | Terry Leeders |
Q: I live in Mass., and filed for Ch. 13, I have 20 months left on a 36 month plan. I am several ...
A: If you convert the case to Chapter 7, the trustee can liquidate any assets that are not fully ...
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| CH. 7 | 11/12/2008 | Terry Leeders |
Q: I live in maryland. My attorney says me and my wife pass the medium income test for the past 6 ...
A: The court looks at all income from all sources for the 6 month window before filing. Now, if there ...
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| CH. 7 | 11/12/2008 | Terry Leeders |
Q: I live in maryland. My attorney says me and my wife pass the medium income test for the past 6 ...
A: Your attorney is right. You must not have disposable monthly income left after you pay your monthly ...
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| secured debt after filing chapter 7 | 11/11/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: I had a secured deft which was a car. I filed and was discharged. now after discharge I get a ...
A: My answer has not changed. First of all the Trustee has nothing to do with doing a reaffirmation ...
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| secured debt after filing chapter 7 | 11/11/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: I had a secured deft which was a car. I filed and was discharged. now after discharge I get a ...
A: I'm guess that the creditor is either Ford Motor Credit or Chrysler. They are the only two who do ...
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| Chapter 7 | 11/11/2008 | Terry Leeders |
Q: If I file Chpt 7 bankruptcy, will the court make me sell my home. My mobile home is paid for and is ...
A: You would most likely need to do Ch13 to protect the equity in your home. Each state has different ...
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| bankrutcy law | 11/11/2008 | Leon D. Bayer, Esq. |
Q: If I am holding a second lien against a house and the owner of the house is declaring charter 7 ...
A: Chapter 7 will not automatically erase your lien, and the house should remain as collateral for your ...
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| Discharge with no reaffirmation | 11/10/2008 | Terry Leeders |
Q: we (My husband and I )filed for bk in Stanislaus county and received a discharge in Mid August 2008. ...
A: At this point you need to work with Capital one on getting the vehicle refinanced, as the debt is ...
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| Back Taxes And Bankcrupt | 11/10/2008 | Terry Leeders |
Q: I owe the IRS about $50,000 and I also owe New York State about $18,000. I do have student loans ...
A: You will be subject to the means test calculation based on your local standards for living expenses. ...
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| AMENDING A BANKRUPTCY | 11/10/2008 | Leon D. Bayer, Esq. |
Q: My husband and I filed Bankruptcy, without the help of a lawyer, in 2005 before the new laws ...
A: I suggest you dispute the item on your credit report, on the grounds that it was discharged in ...
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| Chapter 7 | 11/8/2008 | Leon D. Bayer, Esq. |
Q: I filed a chapter 7 about 3 years ago and just lost my job, foreclosed on my house and had my ...
A: I don't know if you actually need a bankruptcy. I assume your mortgage and car loans were discharged ...
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| BANKRUPTCY | 11/6/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: all debts are under my name only. my wife and I do not qualify for ch. 7 because of too much income. ...
A: This is an issue you really need to direct to a family law attorney familiar with the community ...
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| repossession judgment | 11/5/2008 | Terry Leeders |
Q: I have a judgement against me for a repossessed vehicle which I have been paying on for 2 years ...
A: Yes, you can include a judgment against you for a repossessed vehicle in a bankruptcy case. If you ...
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| Personal bankruptcy | 11/5/2008 | Leon D. Bayer, Esq. |
Q: I am a resident of Florida. For several years I lived in England. Am looking to having to file ...
A: Interesting question. I think I can give you a decent answer for part of this. You can, and should, ...
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| Bankruptcy and divorce | 11/4/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: My cousin and her husband were getting a divorce in South Carolina. They had purchased a van during ...
A: This depends in part on South Carolina marital/property laws, of which I have no knowledge, but in ...
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| Chapter 7 filed, HELOC question | 11/2/2008 | Leon D. Bayer, Esq. |
Q: I co-signed for a HELOC for my mothers home. I had to file chapter 7 and did not reaffirm the debt. ...
A: The debt is still owed against her home. If or when there is any equity in the home, they can ...
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| Forclosure after bankrupcy discharged | 11/1/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: I've been discharged from bankruptcy in April of 2008. I signed re-affirmation on home that I'm ...
A: You have until 60 days after the reaffirmation agreement is filed with the court to rescind it. ...
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| Where do we begin with Bankruptcy...??? | 11/1/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: First, a sincere thanks. I'm not sure where to begin. My mom (roughly 72 years of age) got into ...
A: The only way to answer your questions is to have a comprehensive consultation and go over her entire ...
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| Foreclosure/Forebearanc Plan/Chapter 7??? | 10/31/2008 | Terry Leeders |
Q: My husband and I are in foreclosure on one rental property and two others are following close ...
A: IF you are considering Chapter 7 a thorough review of income and expenses, as well as an asset ...
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| 13 dismissed in two weeks-options? | 10/30/2008 | Terry Leeders |
Q: My sister filed a chapter 13 two years ago for her house. She hasn't made her regular payments and ...
A: Once the case is over, or if the mortgage modified the automatic stay before..they would need to ...
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| Chapter 7 bankruptcy discharged/no reaffirmation of mortgage/foreclosure | 10/30/2008 | Terry Leeders |
Q: Mr. Leeder; I have a question that I believe has been asked in the past; but I'd also like to add to ...
A: If you did not sign a reaffirmation, and the debt was scheduled in the case, you can walk away ...
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| Filing bankruptcy on a Joint Mortgage | 10/30/2008 | Terry Leeders |
Q: I have recently separated from my husband. I moved out of the house, he still lives there. I would ...
A: A bankruptcy can remove your responsibility for the payments of the mortgage. Your cosigner is ...
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| Ch. 13 need help immediately | 10/30/2008 | Mark J. Markus- Bankruptcy Attorney |
Q: We filed Ch. 13 and had a personal loan that mom co signed. We signed a protect co signer paper. ...
A: No, there isn't anything you can do except make the bank aware of the chapter 13 case and cite the ...
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