| Subject | Date Asked |
|
| Chapter 13 discharge and sale of house | 11/20/2008 |
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 ...
|
| BANKRUPTCY | 11/17/2008 |
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 ...
|
| bankrupty and rentals | 11/16/2008 |
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. ...
|
| Bankrupcty IL-tax refund/house | 11/15/2008 |
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 ...
|
| Re-Open Chapter 7? | 11/14/2008 |
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 If you signed a reaffirmation agreement, the agreement must be rescinded the later of ...
|
| Should I file for bankruptcy? | 11/13/2008 |
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 ...
|
| Foreclosure with a Current Chapter 13 plan | 11/12/2008 |
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 ...
|
| CH. 7 | 11/12/2008 |
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 ...
|
| CH. 7 | 11/12/2008 |
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 ...
|
| Chapter 7 | 11/11/2008 |
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 ...
|
| Discharge with no reaffirmation | 11/10/2008 |
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 ...
|
| Back Taxes And Bankcrupt | 11/10/2008 |
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. ...
|
| repossession judgment | 11/5/2008 |
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 ...
|
| Foreclosure/Forebearanc Plan/Chapter 7??? | 10/31/2008 |
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 ...
|
| 13 dismissed in two weeks-options? | 10/30/2008 |
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 ...
|
| Chapter 7 bankruptcy discharged/no reaffirmation of mortgage/foreclosure | 10/30/2008 |
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 ...
|
| Filing bankruptcy on a Joint Mortgage | 10/30/2008 |
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 ...
|
| Chapter 7 and car | 10/28/2008 |
Q: I filed bankruptcy (discharged in Oct. 2002),which included my car. The bank would not reposess my ...
A: Nothing happens to the car title. Your bankruptcy removed your liability for the debt, but the car ...
|
| effect of discharge on non-listed creditor | 10/27/2008 |
Q: Client filed a no-asset Chapter. 7 bankruptcy in 2003. Now, 5 years later, his father is suddenly ...
A: it would depend on the state where it was filed. Some case law says yes, discharged if not listed, ...
|
| mortgage reaffirmation | 10/26/2008 |
Q: I am in an active Chpt 13 Bkrpty and we have a 1st & a 2nd mortgage we did not reaffirm either ...
A: First off, you do not reaffirm debts in chapter 13, only in chapter 7. IF you are in a 13, then stay ...
|
| Desperate - I hope you can help | 10/26/2008 |
Q: shortly after purchasing a car i becamed disabled and couldnt pay for it. I asked them if could ...
A: Your mom is responsible for the debt now that you filed. Normally they cannot send her to jail for ...
|
| Bankruptcy | 10/23/2008 |
Q: If and when I file bankruptcy, does your bank account get frozen? What happens to your assets? ...
A: You can exempt certain assets from bankruptcy. You need to talk with a local attorney about what ...
|
| overdue taxes included in bankruptcy | 10/22/2008 |
Q: Recently, I filed bankruptcy that included back taxes for 2004, 2005 and 2006. I am due a refund ...
A: They may keep it and apply it to the debt that is not discharged in your case. Taxes, to be ...
|
| bankruptcy | 10/21/2008 |
Q: I have two homes in NY, one is a one family home I live in and the other is a two family home I rent ...
A: To answer your several questions: 1. all debts must be included, so you won't be able to 'keep' ...
|
| Personal judgement | 10/18/2008 |
Q: Can a personal judgement be attached to my property and if so can I file Bankruptcy to have it ...
A: yes, a judgment lien can be recorded against the title to property. It may be possible to strip the ...
|
| Discharged Chapter 7 and lien on house ready to close | 10/16/2008 |
Q: There are 3 of us on title to house that is now sold and supposed to close this week. I find out ...
A: If they had a judgment lien attached prior to the case, the debt may remain. Occasionally, if the ...
|
| Chapter 13 | 10/14/2008 |
Q: We just found out that our chapter 13 was dismissed. Our attorney didn't let us know. Our mortgage ...
A: Yes, you can refile. You will need to show the court on how the next case will be more successful ...
|
| Judgement or bankruptcy | 10/11/2008 |
Q: I have a judgement pending against me for a little over 3000.00. I don't have much money and I also ...
A: Filing bankruptcy also involves a budget review, asset review etc. so I cannot give you a quick ...
|
| Tuition in Collections | 10/6/2008 |
Q: I have an unpaid tuition bill that has been presented to collections for a semester in which I ...
A: It would be best to negotiate with the lenders as Tuition and tickets are non-dischargeable in ...
|
| Taxes and Banckrupt | 9/30/2008 |
Q: If someone owe tax money (state and federal, student loans) and get into chapter 13 to force a ...
A: taxes that are less than 3 years old are paid 100% thru a chapter 13. If older, you might be able to ...
|
| civil suit | 9/30/2008 |
Q: "My situation is this: Filed bankruptcy rel, 01-07. Tried to save the home and didn't include it in ...
A: You indicated you 'did not list' the home in bankruptcy. 1. You were supposed to list all assets ...
|
| Bankruptcy | 9/28/2008 |
Q: A relative died several months before I filed bankruptcy. I found out later that I may receive an ...
A: Inheritances have to be disclosed to the trustee and court for 6 months after you file the case. ...
|
| chapter 7 bankruptcy | 9/26/2008 |
Q: LEEDERS, I NEED SOME ADVICE ABOUT FILING CHAPTER 7 BANKRUPTCY. IN BRIEF, THESE ARE THE PERTINENT ...
A: I only practice law in IL so you should seek out a local bankruptcy attorney to see about your ...
|
| Forclosure after Chapter 7 discharge | 9/26/2008 |
Q: I filed a chapter 7 that was discharge in DEC. 07 Since then I did a loan modification with the the ...
A: You cannot go back into the old case to change your intentions. 2 issues, if you signed a ...
|
| Surrendering a Vehicle after BK | 9/24/2008 |
Q: Almost four years ago my husband and I filed for Chapter 7. Now we are separated, awaiting a ...
A: If you signed a reaffirmation agreement, then you will be responsible for any deficiency balance ...
|
| Question about Chapter 7 | 9/23/2008 |
Q: I live in Texas and have cancer and my bills have gotten out of hand! I do make $80,000 a year and ...
A: Depending on your family size, you might be subject to the means test, an analysis of all income ...
|
| Forced to file bankruptcy | 9/22/2008 |
Q: July of 2007, I and my wife filed Bankruptcy Chapter 13. I was informed just today 09/22/08 that my ...
A: The severance package would skew your means test calculation (6mo budget test) so you would need to ...
|
| Chapter 7 bankruptcy in IL | 9/16/2008 |
Q: I moved back to my homeown in Herrin, IL in October, 2007. My FL house was on the market for a year ...
A: unfortunately, by paying back family, the court can go back and undue the payments because they were ...
|
| either getting out of bankruptcy or lowering the payment | 9/16/2008 |
Q: i filed for bankruptcy in jan"08..the terms of my repayment is too much...since my payment was based ...
A: You need to file a motion to modify your plan if your income has decreased significantly since you ...
|
| va home loan and disability | 9/12/2008 |
Q: I forclosed on a house with a VA home loan when i file chapter 7 do i include that and will it iopen ...
A: YOu list all sources in the bankruptcy petition Schedule I for income. As to the means test, social ...
|
| Bankruptcy vs Repossession | 9/9/2008 |
Q: I am considering filing bankruptcy due to a divorce a year and a half ago and all the debt that I ...
A: If you don't want the vehicle, you can surrender it and clear the balance, you sometimes can get it ...
|
| BANKRUPTCY | 9/8/2008 |
Q: I qualify for chapter 7. I want to know how the court/trustee views money held with a broker in ...
A: The money held in that account is valued on the day of filing. Your state may have exemptions to use ...
|
| BANKRUPTCY | 9/7/2008 |
Q: Hypothetically if I qualify for ch. 7 and submit all paperwork and personal information to my lawyer ...
A: The case is effective as of the day your case is filed. Inheritances are assets of bankruptcy for 6 ...
|
| Tenancy by the Entirety | 9/7/2008 |
Q: Leeders, My husband filed chapter 7 bankruptcy. Now he has received a letter stating Notice of ...
A: it sounds like the trustee may be trying to sell the home to get to the equity in the home. now, ...
|
| Re-filing Chpt 13 after a dismissal | 9/4/2008 |
Q: In IL how soon after a Chpt 13 has been dismissed can it be re-filed. Would I get the same judge and ...
A: You can refile at any time once dismissed if you did not voluntarily dismiss the case (assuming the ...
|
| Indiana bankruptcy exempt income | 9/4/2008 |
Q: All of my income is exempt from what I understand. Social security and veterans benefits. If my ...
A: While your income could be determined to be non-attachable, the creditors can still sue you, freeze ...
|
| BANKRUPTCY | 9/3/2008 |
Q: Does it make bankruptcy more difficult or complex if by the time I file I'm already two months late ...
A: It will not matter to the bankruptcy case that you are behind in paying the credit cards. I always ...
|
| 401-K Loans & Rent to Own products | 9/2/2008 |
Q: My husband and I will be filing a Chapter 13 and we are uncertain about (1) our two 401K loans and ...
A: You should be able to keep the 401k loan repayments, but you will need to add that amount to your ...
|
| bk rules | 8/31/2008 |
Q: i now live in pa , i lived in florida last year me and hubby and i had a couple of older mobile ...
A: you may have to disclose the real estate sales. As long as they were fair, and you spent the ...
|
| Chase Mod - after Chapter 7 discharge? | 8/21/2008 |
Q: Due to severe illness, I filed Chapter 13 in Oct 2006. I included my home, 80/20 mortgages, Chase ...
A: yes, because they still have a lien on the home, they can offer you options. The bankruptcy only ...
|
| Should I file bankruptcy | 8/20/2008 |
Q: My mortgage co. just approved a short sale on my old property. They said I was going to be 1099ed ...
A: You can be billed for the difference as income on your taxes. You can surrender the home in full ...
|
| no reaffirmation on my mortgage | 8/20/2008 |
Q: In 2005 we filed bankruptcy, towards the end of it we told our lawyer that we never got anything ...
A: If no reaffirmation was signed, you can surrender the home and not owe another penny on the debt. ...
|
| Withdrawing from a Chapter 7 Petition | 8/17/2008 |
Q: I live in the state of NJ. After the meeting of creditors I thought that everything was fine but the ...
A: You should wait to see what the trustee says once they get their own valuation. If your home is too ...
|
| Chapter 7 and auto repossession | 8/16/2008 |
Q: We recently filed for Chapter 7 bankruptcy here in TX. We DID NOT included my husbands truck, ...
A: If you did not list the debt in bankruptcy, it will not be discharged. Normally, debtors choose to ...
|
| Revokation of Discharge | 8/16/2008 |
Q: Our chapter 7 bankruptcy was filed just before the new laws took effect in October 2005 and was ...
A: Yes, if you have not paid the trustee, she can in fact bring a motion to revoke your discharge. You ...
|
| Partner in a home title going through bankruptcy. | 8/15/2008 |
Q: I live in Florida, and a partner and myself went 50/50 into purchasing a home a number of years ago. ...
A: The court will look to the equity in the home, and what his share is. The court could liquidate the ...
|
| Judgements that wheren't included in ch.7 | 8/14/2008 |
Q: We had filed chapter 7 and several judgements where not included before the discharge. All of these ...
A: If the case is open, you can just amend the schedules to add the debt, and send notice to them. If ...
|
| Chapter 7 | 8/14/2008 |
Q: My husband and I will be filing chapter 7 bankrupcty in about a month. He has a CD that is in his ...
A: yes, he has 1/2 interest in the CD. Your state has exemptions to protect these type of assets, in ...
|
| Chapt 13 | 8/13/2008 |
Q: A few months ago I paid an attorney 1600.00 to file a Chapter 13. I listed all my debts and also ...
A: You are only barred for 180 days if the court orders such, or if you voluntarily dismiss the case ...
|
| Refiling Chapter 13 | 8/12/2008 |
Q: I need to refile do to some changes in my income. It's in the process of getting dismissed. I own ...
A: You will have to pay the lien on the boat to the bank. You can include that in your next case. You ...
|
| ch 7 - real estate mortgage | 8/9/2008 |
Q: I want to go thru Ch. 7, alone i.e. without my wife. Our assets our separated -- we live in a condo ...
A: A short answer is that the court can object or else you may not otherwise pass the means test as ...
|
| bankruptcy discharge | 8/8/2008 |
Q: I owned a business and was forced to close due to the economy. My husband and I filed chapter 7 and ...
A: The company cannot collect from you personally if they were listed in the case, give them a copy of ...
|
| chapter 7 | 8/7/2008 |
Q: I have 5 vehicles, 4 are projects or have seized motors in them. I lost my decent paying job, and in ...
A: Yes, they are assets, but the value is pretty low if they are not working. You wouldn't want to ...
|
| Ch 13 Bankrupcy and Judgement lien | 8/6/2008 |
Q: My husband filed a CH 13 BK on 8/2/2005 in Maryland. There were 3 Judgements placed against him ...
A: unless the debt was paid 100% in the bankruptcy case and the case is completed, the judgment lien ...
|
| Chapter 13 to Chapter 7 | 8/6/2008 |
Q: My payments in a 13 were set @ 100% due to the equity in my home that was subject to divorce ...
A: All of these issues would be disclosed in the chapter 7 case, and any equity the court could go ...
|
| Bankruptcy | 8/3/2008 |
Q: I have a friend who is about to file bankruptcy. I am planning on either loaning her $6000 to get a ...
A: I would recommend not giving her funds or assets just prior to bankruptcy as the court can look at ...
|
| chapter 13 and a lawsuit | 7/30/2008 |
Q: My husband and I filed bankruptcy in July 2005, chapter 13. I delivered my 2nd child in January ...
A: Unfortunately you cannot get those debts into the chapter 13. You do have options though. You can ...
|
| IS THERE A LIMIT ON HOW MANY TIMES YOU CAN DECLARE BANKRUPTCY? | 7/30/2008 |
Q: eIGHT YRS AGO i CLAIM BANKRUPTCY DUE TO MY SPOUSE BEING INCARCATED AND I FILD DIVORCE. i NOW HAVE A ...
A: There is no total cap on how many times you can file bankruptcy. You must wait 8 years between ...
|
| over-stating income | 7/30/2008 |
Q: I regrettably over-stated my income on my last credit application, not considering bankruptcy at the ...
A: Creditors can object for fraud on your credit application, if it was drastically wrong. You will ...
|
| bankruptcy | 7/29/2008 |
Q: If someone has to file ch. 13 (not 7 because of excess income) and then maybe a year later his ...
A: You can choose to dismiss your case voluntarily, and yes, all the debt would be then due. The case ...
|
| reaffirmations | 7/28/2008 |
Q: We just had our meeting of the creditors. We signed papers to reaffirm our mortgage, car and two ...
A: Yes, creditors will have you drop off the items that secure a debt that you do not reaffirm. You ...
|
| bankruptcy | 7/28/2008 |
Q: Question Hi, I am planning on filing for a Chapter 7 bankruptcy soon in MA, but I wanted to know a ...
A: I am licensed in IL so unfortunately do not know MA exemptions. You should speak to a local attorney ...
|
| 401k | 7/24/2008 |
Q: I filed chapter 13 two years ago. Last year, I received a job offer in another state and increased ...
A: While you cannot budget for it in your bankruptcy schedules, since all of your 'disposable income' ...
|
| Chapter 7 vs. Chapter 13 for disabled vets | 7/24/2008 |
Q: I am a 80% disabled veteran who has become a victim of the mortgage crisis. As my mortgage payment ...
A: The means test is not applicable if you are a disabled veteran with debts incurred primarily during ...
|
| Chapter 7 vs. Chapter 13 for disabled vets | 7/24/2008 |
Q: I am a 80% disabled veteran who has become a victim of the mortgage crisis. As my mortgage payment ...
A: Income is a pivotal component to determine what chapter a debtor is eligible for. With chapter 7, ...
|
| Recission of Reaffirmation Agreement | 7/23/2008 |
Q: How do we recind the reaffirmation agreement? It is within the 60 day period. Is there a form ...
A: There might be a form you can find online, otherwise just put the legal caption at the top, entitle ...
|
| Rule 2004 | 7/23/2008 |
Q: We filed Chapter 7 in Nov. 2007 in Ohio. We were discharged in late April. Today, we recived a ...
A: The trustee does have the right to look at the tax returns and bank statements. Technically, your ...
|
| Reopening a chapter 7 bankruptcy | 7/1/2008 |
Q: I filed for chapter 7 bankruptcy and it was discharged on june 16, 2008. We signed a reaffirmation ...
A: You have the right to rescind (Cancel) a reaffirmation agreement within 60 days after you sign it, ...
|
| Time before filing again | 7/1/2008 |
Q: ..I really need some help. I'm confused about this new bankruptcy law. I filed a chapter 7 in sept ...
A: Good question. You must wait 8 years from the date you filed your case. So if you filed in Sept ...
|
| lien on home and bankruptcy | 6/30/2008 |
Q: My husband filed bankruptcy in 2003, and it was discharged in 2004. An unsecured creditor, which ...
A: If the creditor put the lien on before bankruptcy, then the lien will remain unless you brought a ...
|
| Filing bankruptcy but wanting to protect my mother's assets | 6/29/2008 |
Q: Due to some business troubles and medical bills, my husband and I have concluded that filing ...
A: You need to have your lawyer perform an equity analysis to determine what equity there is in the ...
|
| Whole life policy | 6/28/2008 |
Q: In chapter 7 bankruptcy, we were told that the cash value of our whole life policy would not be ...
A: As this is cashing out an asset, it would not be considered income for the means test...you are just ...
|
| Chapter 7 omitted creditors | 6/27/2008 |
Q: Filed Chapter 7 pro se in Pennsylvania on November 2nd, 2007. Discharged and closed on April 14th, ...
A: Unfortunately, the debts must be listed to be discharged. Now, you need to bring a motion to reopen ...
|
| Can my Chapter 13 plan be lowered | 6/26/2008 |
Q: August 2007 I filed bankruptcy to save my house.Im on a 5 year plan paying $200 a month.I was rear ...
A: Unfortunately, chapter 13 cases can be very tricky if you have a major change of circumstances. ...
|
| Chapter 7 Bankruptcy | 6/25/2008 |
Q: My husband and I are in the process of Chapter 7 Bankruptcy. We're concerned about getting all of ...
A: Actually, no. To be dischargeable, debts must be scheduled 11 USC § 523. Exceptions to discharge ...
|
| BANKRUPTCY | 6/23/2008 |
Q: I'm married to a wife that has 3 jobs and works about 75 hours a week and we have one child. I live ...
A: Unfortunately with the new BAPCPA Amendments to the Bankruptcy code, the court really looks at the 6 ...
|
| Co-signer payback | 6/22/2008 |
Q: I filed for bankruptcy and was discharged a year and a half ago. At the time I had a Volkswagen ...
A: Regardless of what you did in your case, your mom, as a cosigner can be held to the contract that ...
|
| Auto loan | 6/20/2008 |
Q: I filed chapter 13 bk I have a car loan in which I owe $14,000. I received a copy of the plan and it ...
A: Your chapter 13 plan sounds like you are cramming down the value of your car. You are paying $6500 ...
|
| IRS seizure | 6/20/2008 |
Q: My friend is in the process of having a house built. It is almost finished but her builder just ...
A: I am a little confused as to how this relates to bankruptcy. Now, if the builder filed bankruptcy, ...
|
| Chapetr 13 to 7 conversion | 6/19/2008 |
Q: I filed a chapter 13 with the intent of being able to make my payments. My income has fallen and I ...
A: You have several options. 1. you can convert the case to Chapter 7, and wipe out the debt..if you ...
|
| Default judgement entered during automatic stay | 6/19/2008 |
Q: To make a long story short, i filed bk in dec. 07. I was served with a summons around october 07. I ...
A: Once discharged, the automatic stay no longer applies, so it would violate the discharge order if ...
|
| CHAPTER 7 | 6/18/2008 |
Q: MY WIFE AND I ARE FILING CHAPTER 7 BK IN CALIFORNIA, NO PROPERTY JUST UNSECURED CREDIT AROUND THE ...
A: All debts need to be scheduled in bankruptcy. It would be up to the creditor if they wish to extend ...
|
| chpt. 7 discharge and foreclosure | 6/17/2008 |
Q: I am asking this because my attorney will not return calls or emails since discharge. I converted ...
A: If you did not sign a reaffirmation agreement after the conversion, then the debt will discharge. ...
|
| Chapter 7 and Home Equity Loan | 6/17/2008 |
Q: I have a mortgage and a Home Equity Line of Credit. I filed Chapter 7. I am not in foreclosure and ...
A: Home equity loans & lines of credit are lien's against the property. They have the right to charge ...
|
| bankruptcy | 6/16/2008 |
Q: In determining whether someone can file for 13 or 7, for the income/expense report, can someone ...
A: You must disclose all income received in the 6 months prior to your case. if your source of income ...
|
| bankruptcy | 6/16/2008 |
Q: Generally, after someone files for 13 in maryland, how much of an income increase will be required ...
A: It would depend on if your chapter 13 plan, or your local rules require you to report increases in ...
|
| rental housing | 6/15/2008 |
Q: I CURRENTLY HAVE 18 RENTAL HOUSING PLUS MY PRIMARY HOUSE. 3 OF THE HOUSES ARE IN MY WIFE NAME. I ...
A: You can choose to do Chapter 7 and surrender the properties you do not want. You would be subject ...
|
| tax refund | 6/12/2008 |
Q: I received $12,000 tax refund last April. I had it in my checking account, but when I saw ...
A: You have to disclose cash on hand, in the bank, under the mattress etc. in a bankruptcy case, no ...
|
| Chapter 13 Bankruptcy | 6/12/2008 |
Q: If we already went to the Trustee meeting- the trustee asked us to step out of the room, that he had ...
A: Your lawyer has the obligation to you to file any appropriate amendments based on reasonable and ...
|
| Wage Garnishment IL | 6/12/2008 |
Q: I was wondering if wage garnishment is the only way repayment plan works for Chap. 13 after the ...
A: You may have the option to mail in direct payments to the chapter 13 trustee (at least in Chicago), ...
|
| Bankruptcy | 6/11/2008 |
Q: My husband and I filed for bankruptcy in 2004. My student loan of 20 years was placed on their but ...
A: I'm sorry, but you will not be able to discharge student loans. If, during your case, you brought ...
|
| Have business - file personal bankruptcy | 6/10/2008 |
Q: I recently opened up my own business a year ago, and my business is growing. My question is i have ...
A: IF you are not incorporated or have an LLC, then the business debts are also your debts and would be ...
|
| bankruptcy | 6/10/2008 |
Q: I'm thinking of filing for chapter 7. I live in Maryland. My income is above the mean average so I'm ...
A: Bankruptcy Means testing figures and allowances can be found here. ...
|
| dischargeable debt under Chptr 7 | 6/10/2008 |
Q: I get conflicting info online. Your advice will be most appreciated on 3 topics! I'm in California. ...
A: 1. Your judgment would be dischargeable in a chapter 7. 2. You would have to file a motion to modify ...
|
| Car Titles - how long does it take to obtain after paid? | 6/9/2008 |
Q: My and I filed CH13 Bankruptcy in Texas in June of 05. We were advised to put or vehicles into the ...
A: If your vehicle was crammed down in the bankruptcy, you will receive them once you get your ...
|
| WI Chapter 13 and Tax Refunds | 6/9/2008 |
Q: I filed Chapter 13 in 2005. At the time I went to court I understood the reason for requiring 50% ...
A: Unfortunately, Your chapter 13 plan as required by your case had you turn over the tax refunds into ...
|
| bankruptcy | 6/9/2008 |
Q: In either 7 or 13 would they allow me to keep a rental house that is earning negative ...
A: If you qualify for Chapter 7 you can choose to reaffirm the debt (keep it) for the rental. The ...
|
| Can't Afford to Remodify Plan | 6/7/2008 |
Q: My husband and I live in Texas and filed for Ch. 13 bankruptcy in July 2005 to attempt to save our ...
A: You must pay out your plan as it is confirmed, the trustee will not automatically discharge your ...
|
| bankruptcy | 6/5/2008 |
Q: If me and my spouse make a bit beyond the allowable for chapter 7 but have very large expenses and ...
A: You would normally pay your regular monthly bills on your own. Normally, only the person who files ...
|
| bankruptcy | 6/5/2008 |
Q: If me and my spouse make a bit beyond the allowable for chapter 7 but have very large expenses and ...
A: Unfortunately, I don't think it is fraudulent that you bought land which you can no longer sell ...
|
| joint loans and credit rating | 6/4/2008 |
Q: I've annulled my marriage to a person I have two joint home loans with, one our main home and two a ...
A: You can list the debts in the case. It would remove your liability for the loans. He will just have ...
|
| Bankruptcy | 6/4/2008 |
Q: I was wondering if when a person files for bankruptcy if the lawyer is required by law to send a ...
A: First of all, the bankruptcy court clerk sends the bankruptcy notices out, not the attorney. No ...
|
| Chapter 7 Discharge | 6/4/2008 |
Q: My husband filed chapter 7 in 2004 and the bankruptcy has been discharged. We live in Alabama. He ...
A: Household may have had a judgment lien against your husband, that was recorded by the county. ...
|
| Filed as individual 3 years ago | 6/3/2008 |
Q: About 3 years ago I filed chapter 7 as an individual because I wasn't married. Now i'm married and ...
A: Unfortunately, you cannot file chapter 7 bankruptcy again until 8 years from the date you filed ...
|
| CH 13 | 6/2/2008 |
Q: If someone files 13 and shortly after either he gets a large increase in income or on the other ...
A: If you bring a motion to modify the plan to surrender your interest in the properties, the court ...
|
| CH 13 | 6/1/2008 |
Q: If someone files 13 and shortly after either he gets a large increase in income or on the other ...
A: Normally, unless otherwise ordered by the court, you do not need to report a positive change in ...
|
| House after BK discharge | 5/31/2008 |
Q: I called the bank to see if there is anything else I need to do with my house and they said I should ...
A: Either way, the bankruptcy discharged the debt. You can always sell the home up until the ...
|
| lien on home | 5/31/2008 |
Q: I am in the middle of filing chapter 7 bankruptcy and when i went to meet with the trustee she said ...
A: You need to check the title to the property. It might not be a lien from your mortgage. If you ...
|
| chapter 7 | 5/30/2008 |
Q: I heard that if someone does not qualify for chapter 7 because of too much income they might still ...
A: If you have greater expenses than allowed under the means test, you can petition the court to allow ...
|
| CHAPTER 7 BK | 5/30/2008 |
Q: I HAVE A MOTORCYCLE THAT I HAVE TO CLAIM ON MY BK, BLUE BOOK VALUE FOR IT IS $6000 BUT I OWE $15000. ...
A: You have 3 choices in chapter 7 bankruptcy. 1. Surrender the vehicle and eliminate the debt. 2. You ...
|
| bankruptcy | 5/29/2008 |
Q: Does chapter 13 allow the person to save money each month after paying the agreed on amount? Also, ...
A: in theory, all your disposable income is accounted for in the plan. If you work overtime, or can ...
|
| adversary proceeding | 5/29/2008 |
Q: My parents, aged 78 and 74, were forced to file bankruptcy in April 08, after my mom's second ...
A: Creditors can object for recent usage just prior to a bankruptcy, and Chase has done so. Usually, ...
|
| bankruptcy | 5/27/2008 |
Q: My husband and I are getting a divorce. We filed for bankruptcy about 2 years ago. Our bankruptcy is ...
A: With divorce, the responsibility for the bankruptcy payment is equally yours and his. Now, you can ...
|
| means test bankruptcy calculation | 5/27/2008 |
Q: I have no secured debt, but approx. $92000 in unsecured debt including student loans. I know the ...
A: The means test is based on your household size, and all income received for the household. Now, you ...
|
| student loan debt | 5/26/2008 |
Q: In 2004, I took out two student loans one with AES and the other one I thought with Suntrust (on my ...
A: Unfortunately, all educational debts are non-dischargeable in chapter 7. You may consider a ...
|
| bankruptcy | 5/26/2008 |
Q: i files ch13 bankruptcu in september 2007 and i need to find out if i can go back to my attorney and ...
A: You can always convert to Chapter 7 if you haven't filed a chapter 7 in the last 8 years. Keep in ...
|
| lien against property | 5/24/2008 |
Q: I live in Tn & filed BK in '04. All the debt was from a previous divorce in '00 that I was co signer ...
A: This will depend on when the creditor put the lien on your home. If it was done after your case, ...
|
| Getting married, possible spouse bankruptcy | 5/23/2008 |
Q: I am set to be married soon, and while my credit is stellar, my fiancee's is at rock bottom. He has ...
A: If he files bankruptcy before you get married, your credit score would not change. You are correct ...
|
| BANKRUPTUCY | 5/23/2008 |
Q: Hello i had a friend that filed bankruptucy over 2 years ago And she was looking to by a car And ...
A: That is strange. If she has her bankruptcy notice, she can send a copy and a letter to the three ...
|
| bankruptcy | 5/22/2008 |
Q: I heard on the news a woman filed for bankruptcy and then she failed to pay a $300 payment to a ...
A: I did not hear that story. I'm sure there is more to it than that. Perhaps she was in chapter 13, ...
|
| foreclosure | 5/22/2008 |
Q: My chapter 7 was discharged in 11/2005. I did not reaffirm the mortgage and it does not report on my ...
A: none. Your debt is technically discharged thru the bankruptcy. You can walk away and not owe ...
|
| assets in bk | 5/22/2008 |
Q: are both 401K's and IRA's exempt from chpt 7 in IL? Also, while credit is still in good standing ...
A: Yes, there are exemptions for IRA's and 401k in IL to protect them 100% in IL. All debts, including ...
|
| Bankrupcy and equity in rental and personal property | 5/21/2008 |
Q: I currenty have 4 credit cards with about 25K in balances as well as medical bills for about 5k. I ...
A: You should meet with a local bankruptcy lawyer. Since you do have assets, the attorney can do a ...
|
| Chapter 7 Bankruptcy-Home Equity | 5/19/2008 |
Q: My Chapter 7 bankruptcy has been turned over to a Trustee due to the equity in my home. My attorney ...
A: The trustee, if they win, can put your home on the market to sell. once they sell, they will pay the ...
|
| Impact of Ex's Bankruptcy | 5/19/2008 |
Q: Divorced April 2007 after 23 years. I receive permanant alimony. I pay child support. Ex has ...
A: You should have received notice. if the debtor fell behind after the case was filed, you should ...
|
| Impact of Ex's Bankruptcy | 5/18/2008 |
Q: Divorced April 2007 after 23 years. I receive permanant alimony. I pay child support. Ex has ...
A: 1. The date of the intial filing is the effective date of the bankruptcy. 2. Child support arrears ...
|
| bankruptcy | 5/17/2008 |
Q: Assume I personally qualify for chapter 7 and all mortgages and debts are under my name only and our ...
A: Yes, this is a joint bank account, that each party has access to. Also, it may depend on if your ...
|
| Chapter 7 Bankruptcy - Reaffirming Debts | 5/17/2008 |
Q: I am in the middle of Chapter 7 Bankruptcy. We have had the meeting of the creditors (30 days ago) ...
A: You would have to sign an official reaffirmation agreement. Your attorney should contact the ...
|
| Bankrupcy | 5/15/2008 |
Q: I have no equity and am 46 yrs. old and owe about 30,000 to credit cards. I really want to pay it ...
A: Chapter 7 bankruptcy would discharge the debt within about 90 days if you don't have a lot of ...
|
| ch.13 bankruptcy dismissal--refiling | 5/15/2008 |
Q: The Ch.13 Trustee moved for a dismissal of my case due to my moving out of state. I had moved before ...
A: You can refile in your new location, as long as you have been in the new location for at least 91 ...
|
| Bankruptcy | 5/15/2008 |
Q: Almost 2 years ago, I filed for Chapter 7.At that time was told it would take 4 months tops and I ...
A: I am slightly confused. You said you 'filed' your chapter 7 2 years ago. Did you just hire the ...
|
| BANKRUPTCY | 5/14/2008 |
Q: If I qualify for chapter 7 and since 3/3/08 I've incurred $1,800 of credit card usage, how does that ...
A: Creditors can object for recent usage within 60 days of the filing. Also recent cash advances or ...
|
| lost job in chapter 13 with home | 5/14/2008 |
Q: Already in chapter 13,home included. Husband lost his job. Can I save my home by filing chapter ...
A: Unfortunately, Chapter 7 will not do anything to save the home. That is a debt liquidation ...
|
| Chapter 7 Bankruptcy | 5/13/2008 |
Q: My husband and I Filed a chapter 7 bankruptcy 6/05 and were discharged 11/05.In 2007 we wanted to ...
A: If you did not reaffirm the mortgage, technically it was discharged thru the bankruptcy case. So, ...
|
| Repossession after my chapter 7 Bankruptcy | 5/12/2008 |
Q: and I purchased a vehicle after the discharge, but I lost my job nine months later in I was unable ...
A: no. Since the debt was incurred after the date of your previous bankruptcy case, then this is a new ...
|
| Bankruptcy Chapter 13 | 5/10/2008 |
Q: I filed bankruptcy in July 2006, chapter 13. At that time our mortgage was late and was included in ...
A: A creditor can only report truthful facts on a credit report. If you were 120days behind when you ...
|
| Chapter 7 bankruptcy? | 5/9/2008 |
Q: I am thinking about filing for Chapter 7. However, I have an auto loan that my father is the ...
A: While the debt does need to be listed in your case, you can reaffirm the debt to stay responsible ...
|
| Chapter 7 & Corporate Credit Card | 5/8/2008 |
Q: My husband and I are reviewing our options but need to find out if his corporate American Express ...
A: If there is a balance, then it would need to be included if he was the signer on the original ...
|
| Chapter 7 | 5/7/2008 |
Q: I spoke with an attorney about filing chapter 7 , I am married and I am the only one who will file. ...
A: Recent usage on any one card within 60 days over $600 is deemed automatically nondischargeable. ...
|
| chapter 7 | 5/7/2008 |
Q: I had 4 rental properties discharged and countrywide is still sending me forcloser papers so i ...
A: Foreclosure is not debt collection, it is how a lender transfers title to the real estate, hence you ...
|
| liquidation | 5/6/2008 |
Q: Why do liquidation usually results in losses for the creditors or owners or both? please give me ...
A: A chapter 7 liquidation eliminates unsecured debts. Only un-exempt assets are subject to ...
|
| Ch 13 question-Surrendering my vehicle | 5/1/2008 |
Q: I filed CH 13 July 2007 by myself my husband did not file with me but since we are in a Community ...
A: Sorry, no. any funds paid to the trustee are paid to the creditor, and will not be returned. If you ...
|
| Lein against an bankruptcy | 4/30/2008 |
Q: Our bankruptcy case was closed in April 3rd, 2002. In it we had our home mortgage that we ...
A: If you had a judgment against you, and they filed a lien against the home, the lien will stay on, ...
|
| consequences for dismissal of chapter 7 | 4/30/2008 |
Q: My husband and I are about to file for Chapter 7 in California. We wanted to do it without a lawyer ...
A: Generally, if dismissed, you can refile right after the dismissal unless there was some specific ...
|
| A bunch of repo ?'s until BK filing is complete - Illinois Law | 4/29/2008 |
Q: I am in the middle of filing chapter 7, mostly due to an injury where I broke my neck among other ...
A: Illinois is a self help state, meaning the creditor can repo the car if you are in default, ...
|
| fild chapter 7 over a year ago, creditor never came to get a vehicle.. | 4/28/2008 |
Q: I filed chapter 7 over a year ago and filed on a car. I sent a paper saying where the car was and ...
A: If you wish to surrender it, and the creditor hasn't picked it up after you have contacted them, you ...
|
| inheritance included in bankruptcy | 4/28/2008 |
Q: My husband and I are in a financial crisis. We have several rental home in Arizona (we live in ...
A: Chapter 13 will be designed to protect all of your assets. You would pay back enough of your ...
|
| Income Tax | 4/28/2008 |
Q: I filed chp 13 in Aug 2007. I did not surrender my tax refund for 2008 simply because i didnt know i ...
A: It sounds like your chapter 13 plan is not feasible...meaning you do not have enough income to pay ...
|
| Surrendering home in Bankruptcy, | 4/26/2008 |
Q: First off, I want to thank you in advance for your answer. You are very helpful and I have learned ...
A: In my experience, future creditors will see that the bankruptcy discharged the debt thru the case. ...
|
| bk | 4/25/2008 |
Q: i am going to have to file a chapter 13 i think. but my business license has been suspended and i ...
A: It sounds like you need to meet with a local bankruptcy attorney to see what options you have. A ...
|
| Re-affermation blunders | 4/25/2008 |
Q: My wife and I files pro-say Chapter 7 in 04. It was discharged in 05. Ive been having trouble with ...
A: Reaffirmations have to be entered while the case is open. Theoretically, it is possible to reopen ...
|
| Chapter 7 Bankruptcy | 4/23/2008 |
Q: My husband is in the process of filing Chapter 7 Bankruptcy, the only thing we have jointly together ...
A: He may surrender it if he chooses to, he can also just catch up on the terms. It will still be his ...
|
| BANKRUPTCY | 4/23/2008 |
Q: If I filed bankruptcy because of inability to meet my debts will they go after my primary home - it ...
A: If you have no equity, your home will not be sold thru bankruptcy, and you can keep it as long as ...
|
| Amend Bankruptcy Filing | 4/21/2008 |
Q: What are the implications to my husband if he goes to an attorney and asks to open his discharged ...
A: bankruptcy documents are filed 'under oath' so he must tell the truth, otherwise he is subject to ...
|
| Bankruptcy | 4/20/2008 |
Q: I am going to file bankruptcy next month, I am married and I will be filing alone, that is my wife ...
A: While you may have 2 vehicles and still file bankruptcy, it can come down to valuations and who's ...
|
| Reorganization? What to Do? | 4/18/2008 |
Q: My partner and I created an LLC in 2006. We took out 4 credit cards and two loans, one against his ...
A: Tough call. Since he signed personal guarantees and put lien on his home, the creditors can pursue ...
|
| Reaffirming a mortgage | 4/18/2008 |
Q: I filed CH 7 two years ago and decided to keep my house I have made every payment on time but a ...
A: At this point, the only way to get 'credit' for your payments is to refinance and start on a new ...
|
| Median income | 4/17/2008 |
Q: Could you please tell me, or point me to a web site, that shows what the median income limit for a ...
A: Here is the link to the UST trustee site, where you can review your state figures. ...
|
| Repo before filing | 4/17/2008 |
Q: If a vehicle is repossessed 2 days before filing, Can you get it back and include it in your ...
A: Sometimes, you may be able to have the lender give the vehicle back if you are filing chapter 13 and ...
|
| Trade in or surrender car? | 4/16/2008 |
Q: I filed chap 7 last year and was discharged in March 07. I decided to keep the vehicle but my lawyer ...
A: IF you have not signed a reaffirmation, you can walk away from the car and not owe another penny. ...
|
| Non-Reaffirmation of Cars | 4/16/2008 |
Q: We filed bankruptcy in 06 and asked to reaffirm on our cars. The lenders sent us reaffirmation ...
A: Technically, yes, they can take the cars since you did not reaffirm the debt. In reality, they ...
|
| Chapter 7 vs 13 | 4/16/2008 |
Q: I live in CA and have an income over the amount allowed by the means test, aprox. 80K per year. I ...
A: Chapter 7 may be available, depending on your expenses, taxes, insurance etc and depending on your ...
|
| BK Fees | 4/16/2008 |
Q: Terry, Considering either a Ch 7 or Ch 13. An attorney I spoke with stated that his fees (not court ...
A: I charge fees for Chapter 7 based on the complexity of the case. There is no limit. In Illinois, ...
|
| Bankruptcy | 4/15/2008 |
Q: Ten years ago I was going through a hard financial time and took out a few loans. After taking them ...
A: Bankruptcy is definitely an option, since it has accelerated to lawsuit. The creditor can garnish ...
|
| reaffirmation deal | 4/15/2008 |
Q: I filed Chapter 7 Bankruptcy last year and managed to hold on to my home. I checked a box in the ...
A: A reaffirmation is a document signed by the creditor, the debtor, and usually the debtor's attorney. ...
|
| Bunsiness Close, File personal Bankruptcy | 4/14/2008 |
Q: I started a business (Apparel),Signed a lease with Atlantic LLC. for 3 years. After 5 months of ...
A: If you followed your state's dissolution process (liquidating the assets, paying creditors etc.) and ...
|
| saving my home throough bankruptcy | 4/13/2008 |
Q: I am a 100% disabled veteran due to combat connected disability. My disability status was just ...
A: Chapter 13 will be designed to bring the loan current, and pay back a percentage of your other ...
|
| LLC Bankruptcy | 4/13/2008 |
Q: I have a LLC that is not competing well in todays market. Funds are depleted and business is very ...
A: It would depend on if you have any personal guarantees on those debts. While technically a separate ...
|
| Re-opening Chapter 7 | 4/13/2008 |
Q: I filed Chapter 7 Bankruptcy last year and the case was discharged. The case was closed on December ...
A: Your mortgage is already in the bankruptcy. The issue is if you signed a reaffirmation agreement or ...
|
| Foreclosure and my credit | 4/12/2008 |
Q: Our house is in my wife's name and we can't afford to pay for it anymore, if the house is in ...
A: I am not sure if you are asking about bankruptcy...?? IF you both file bankruptcy and surrender the ...
|
| bankruptcy dismisal | 4/11/2008 |
Q: We have filed 13 and paid for 21/2 years my husband lost his job due to downsizing. we didnt file on ...
A: Your house actually was 'in' the chapter 13, but the plan said you would make direct payments on it. ...
|
| surrendering home in Chapter 7 | 4/11/2008 |
Q: My parents are about to file for Chapter 7. They cannot afford their home with their current income ...
A: Yes. When a home is surrendered in bankruptcy, the trustee has the first option to sell it. If they ...
|
| cosinger on car loan | 4/10/2008 |
Q: i have a cosinger on my car loan i filled chapter 7 what will happen to my cosiner is he responcible ...
A: Your cosigner is responsible for the debt. They can negotiate a payment plan with the creditor, but ...
|
| Divorce Decree Judgment and Bankruptcy | 4/10/2008 |
Q: My husband ex wife has done everything in her power to make our life miserable. I have a couple ...
A: Couple issues here: 1. you can bring a motion to reopen a case, there is a court fee to do so. Then ...
|
| filing chapter 7 again | 4/10/2008 |
Q: I want to know if I was discharged from a chapter 7 in 2003 or 2004, can I in 08 file again for a ...
A: Chapter 7 is only available again 8 years from the date you filed your last chapter 7. So, here, ...
|
| REOPENING CH.7 | 4/8/2008 |
Q: I filed for ch. 7 in dec. of 05, and was and received my discharge (no asset estate) in march of ...
A: You will have to pay the court fee to reopen your case. You will need to bring a motion to reopen, ...
|
| Chapter 13- Child Support | 4/7/2008 |
Q: I filed a Chapter 7 back in 2003 and due to unemployment I am in need to file a chapter 13. However, ...
A: Good question. In Chicago, one of the bankruptcy judges just ruled on this issue, and ruled that ...
|
| bankruptcy | 4/7/2008 |
Q: I am in the process of filing chapter 13 and have not raised the money yet. I recently had a ...
A: Depending on if you own Real estate, if you do not, the creditor will look to garnish wages or ...
|
| home in chapter 13-need to sell | 4/6/2008 |
Q: TERRY, WE ARE IN THE 3RD YEAR, I THINK OF OUR CHAPTER 13 BANKRUPTCY. WE HAVE OUR HOME AND MEDICAL ...
A: You need to bring a motion in bankruptcy case to get approval to sell. Your attorney should help ...
|
| bankruptcy | 4/6/2008 |
Q: I'm an expert in several other categories but this is far from my specialty. My father is 71 years ...
A: In short, all debts must be listed in bankruptcy cases. Bankruptcy is an option if current monthly ...
|
| Employer Files Bankruptcy on Wages | 4/3/2008 |
Q: My husband worked for an unincorporated business. He was owed $7500. To pay of some of the debt, the ...
A: Unfortunately, transfers just before a bankruptcy can be undone, so that the asset can be liquidated ...
|
| Seizing assets | 4/2/2008 |
Q: Before we lost a third of our income, I purchased a dell laptop through my credit at Dell, and a ...
A: Each state has exemptions to use for protecting your assets, so speak with a local attorney on what ...
|
| How to remove a lien on property after a Bankruptcy | 4/1/2008 |
Q: In February of 2004 we filed for Chapter 7 protection in central Illinois. As a precursor to the ...
A: if a lien was put on the home before the bankruptcy case was filed, then you would have to bring a ...
|
| Stimulus payment | 3/31/2008 |
Q: One of the other lawyers stated that as of right now, it is unclear whether or not the stimulus ...
A: Hard to say. I thought that I read that this is just a tax credit for 2008 tax year, but are paying ...
|
| Bankruptcy | 3/31/2008 |
Q: My husband filed Chapter 7 bankruptcy in ohio in 2002. I have never filed, but need to file now. ...
A: you can do any of the scenarios. You can file a joint ch13, or you can file CH7 and he can either ...
|
| Bankruptcy | 3/29/2008 |
Q: My husband and I filed bankruptcy in l999 we received the final degree 12/99. We are both ...
A: For chapter 13, you need to show the court that you have enough cash flow to afford your monthly ...
|
| 2 questions | 3/28/2008 |
Q: 1) I have a bankruptcy discharged in April of 2001. One of the discharged debts was originally a ...
A: Sorry Lenn, She can enforce the divorce decree to still make you pay the debt even though it was ...
|
| Divorce-spouse bankrupt & home claim | 3/27/2008 |
Q: Divorced 2 yrs ago. House released to ex-spouse w/quit claim but required to remove my name. Ex sp. ...
A: If she does it after Bankruptcy, then it won't be an issue. If she does it before the case, she ...
|
| Reaffirmation of mortgage | 3/27/2008 |
Q: Just over a year ago we filed Ch. 7 -discharge was in May 07. We tried to reaffirm our mortgage thru ...
A: Unfortunately, you cannot force a creditor to reaffirm. This happens more often than you would ...
|
| Reaffirming mortgage loans in Chap. 7 | 3/25/2008 |
Q: Leeders, I have a question for you regarding reaffirming mortgage loans in a Chapter 7 bankruptcy. ...
A: Although you are not required to reaffirm, the debt is discharged otherwise if you don't. You can ...
|
| is chapter 13 right for me? | 3/23/2008 |
Q: my name is John, I am 46 years old and am on disibility, have been since 1999. I receive Social ...
A: Those are just a list of things that a creditor might do, in general. Of course, they would have to ...
|
| Chapter 7 bankruptcy and foreclosure | 3/11/2008 |
Q: July 2007 my chapter 7 bankruptcy was discharged. I did not sign a reaffirmation with my mortgage ...
A: If you did not sign a reaffirmation agreement, you can walk away from the home and not owe another ...
|
| discharged bankruptcy | 3/9/2008 |
Q: Can I add my car to my discharged bankruptcy, it was discharged in 7/06 or 05 I not sure. But I am ...
A: You should speak with your attorney. If you signed a reaffirmation agreement, then you are on the ...
|
| Credit Report | 3/8/2008 |
Q: My Bankruptcy was discharged in 2005. In my credit report, the Bankruptcy is listed along with all ...
A: Your bankruptcy will show on the report for 10 years. Your debts that were included in the case ...
|
| chapter 13 | 3/6/2008 |
Q: My wife and I surrendered our home in a chapter 13 bankruptcy.Is this considered a foreclosure with ...
A: The bankruptcy will just eliminate the debt for you. The lender will have to foreclose to transfer ...
|
| Bankruptcy and Deed of Trust | 3/4/2008 |
Q: My boyfriend and I are both on the Deed of Trust to our home. However, the home is financed in his ...
A: You must list the asset, and associate it with the lien. This will help show the court what equity ...
|
| Chapter 7 reopen for newly discovered assets | 3/4/2008 |
Q: Our Chapter7 was discharged 1-04. On the schedules we erroneously did not put on the Schedule a ...
A: You have to reopen the case, as it was an asset of the bankruptcy. You may have exemptions ...
|
| Personal loan dischargeable in bankruptcy? | 3/1/2008 |
Q: My wife got an unsecured personal private loan from Wells Fargo Bank in 1999. The purpose of the ...
A: The bankruptcy law states any debt for "educational purposes" is nondischargeable unless you can ...
|
| proof of claim | 2/28/2008 |
Q: I had a lease with option to buy contract with individual who is now filing chapt 13. I ended up ...
A: claims for broken lease and damages would be an unsecured debt. You will be paid pro-rata with all ...
|
| Chapter 7 bankruptcy. | 2/26/2008 |
Q: Terry thanks so much for your help. My case was a pre petition personal injury lawsuit. at 341 ...
A: Booth, The trustee can go back in, so to speak, if there was an error. Since it was not known that ...
|
| Chapter 7/Re-finance | 2/26/2008 |
Q: I am currently in the process of re-financing my home which I just bought 7-07 and everything going ...
A: Assuming you didn't put a lot of money down on the home, you should be ok. Talk with your lawyer ...
|
| What to do? | 2/25/2008 |
Q: Terry, I co-own a 2 unit with my brother. I had lost my job in October and have been unable to ...
A: Bankruptcy can help you get caught up on the default amount. you can always sell the property ...
|
| bankruptcy and reaffirmation-Kansas | 2/25/2008 |
Q: In 2004 my husband and I filed for chapter 7 bankruptcy. We decided to reaffirm our home loan and a ...
A: If the creditor does not have a valid reaffirmation and if one wasn't filed with the court, you ...
|
| Should my husband declare bankruptcy? | 2/22/2008 |
Q: My husband's wages are being garnished for a defaulted loan from 1999(before we were married). The ...
A: These types of debts are dischargeable in a bankruptcy case. Once the case is filed, the garnishment ...
|
| bankruptcy | 2/21/2008 |
Q: The trustee has put a hold on my tax refund of $4,172.00. I was told it would be sent to the ...
A: Each jurisdiction differs on how much of your tax refund can be protected. Speak with your lawyer ...
|
| medical bills and chapter 7 | 2/20/2008 |
Q: Can I include medical bills that are in my wife's name but through "my" insurance plan on my chapter ...
A: You may list them, but since they are your wife's debt, she'll still be responsible for the payment ...
|
| canceling chap 13 | 2/20/2008 |
Q: thinking about canceling chap 13 what will the creditors do that i have filed on? Also will they ...
A: If your chapter 13 case is dismissed, then the creditors can pick up collection action. You should ...
|
| When should I file ? | 2/19/2008 |
Q: I really don't know when I should file because I have a pending income tax refund, I cannot afford a ...
A: Obviously, I would always recommend hiring an attorney to help plan and file your bankruptcy. Tax ...
|
| will bankruptcy help me | 2/18/2008 |
Q: I am researching my financial options. i am married and my husband and i file taxes seperatley and ...
A: First off, Student loans are non-dischargeable in bankruptcy. Cosigned debts will still be your ...
|
| Bankruptcy & tax refund issue | 2/18/2008 |
Q: Leeders, My situation is that I had $20,000.00 of credit card debt. I had the credit card for many ...
A: This is a very common scenario. (and popular question!) Each state has exemptions to protect tax ...
|
| School went Chapter 7; what happens to us? | 2/17/2008 |
Q: The school that my husband has been going to has recently gone bankrupt under chapter 7 title 11. ...
A: You have the right to file a claim for the amount you paid in, that you haven't used yet (for ...
|
| discharged chapt. 7 & structured settlement | 2/16/2008 |
Q: My chapter 7 bankruptcy was discharged in July 2005. This week I went to court to get approval for ...
A: The trustee can offset any un-exempt portion of the injury settlement. (each state's exemptions ...
|
| For chapter 7, is gift income? Tax refund all mine or split with wife? | 2/15/2008 |
Q: I'm filing Chapter 7 bankruptcy individually, due to business debts that are from personal ...
A: You must disclose contributions to the household expenses, from your father, from your wifes job if ...
|
| Tax Refund after filing Bankruptcy | 2/14/2008 |
Q: I have a question? Will I get my full tax refund? I filed Bankruptcy in 2006. Also do I need to add ...
A: You should ask your lawyer about the refund. Each jurisdiction is different, and may depend on when ...
|
| Reaffirming Mortgage | 2/13/2008 |
Q: I am a mortgage broker who’s company recently went under. I am now working for a debt consolidation ...
A: Normally, both liens stay on your home. You should discuss with your lawyer the possibility of ...
|
| Chapter 7 & Saving Home | 2/13/2008 |
Q: We were recently discharged on a chapter 7 and were able to save our home. My son who had lived ...
A: A motion to modify, if granted allows the creditor to deal directly with the purchasers, it does not ...
|
| Ch 7 Bankruptcy - Amend | 2/13/2008 |
Q: What exactly do I need to do to add old bills to my Ch 7 bankruptcy? I'm doing this on my own ...
A: If your case is still open, you need to file the amended schedules with the bankruptcy clerk. This ...
|
| judgment 2002 | 2/12/2008 |
Q: Is there a way to have a judgment removed from credit report? We filed bankruptcy but it is still ...
A: The fact that the judgment occurred will stay on your report 7-10 years. The bankruptcy removed ...
|
| Use tax refund to file bankruptcy? | 2/12/2008 |
Q: My husband and I have been planning to declare bankruptcy this year using our tax refund. Recently a ...
A: I would follow the judge's orders. Now, if you file the bankruptcy case before you file your tax ...
|
| BANKRUPTCY AND tAX REFUNDS | 2/10/2008 |
Q: My step-daughter is about ready to file bankruptcy. For 2006, we have the option of claiming her ...
A: You need to be careful here. Speak with her attorney and your tax preparer. Are you asking about ...
|
| Ch 13, unfiled returns | 2/8/2008 |
Q: My husband and I got married in 2003, so we filed a joint return that year and still owe unpaid ...
A: If I follow you correctly... Chapter 7 will not discharge any taxes if the returns are not filed, or ...
|
| can I amend my discharged bankruptcy | 2/7/2008 |
Q: I had a chapter 7 bankruptcy discharged in Oct. '06 and some medical bills are coming back to haunt ...
A: You may be able to reopen the case. The debt must have been incurred before the date your case was ...
|
| Bankruptcy/tax returns | 2/7/2008 |
Q: I have a lot of credit card debt and no assets. I have no money to pay on the debt and they are ...
A: The bankruptcy reform laws from 2005 require debtors to tender paystubs and tax returns to the court ...
|
| Buy a new house | 2/5/2008 |
Q: I recently got married in the middle of filing a Chapter 13 bankruptcy. I am paying back 100%. My ...
A: If you are wishing to purchase the home, or wish to do so jointly, then you need court approval ...
|
| Bankruptcy | 2/5/2008 |
Q: I recently filed for bankruptcy within the last two year and I wanted to know if there is any ...
A: there are many lenders that are willing to help you out. Try Fresh Start Partners. These are lenders ...
|
| Chapter 7 and Lump sum SSDI payment | 2/1/2008 |
Q: My daughter applied for SSDI over 2 1/2 years ago. Her husband left her 2 years ago. Their divorce ...
A: Yes, she would disclose it. Her attorney will use state exemptions to protect it. She should not ...
|
| Motion for Deficiency | 1/31/2008 |
Q: I live in Ohio. Filed Ch.7. Surrendered our condo to the trustee, he abandoned the property,it went ...
A: If you listed the debt in bankruptcy, then the bankruptcy discharged your obligation for this debt. ...
|
| chapter 7 and tax refund | 1/31/2008 |
Q: i live in wisconsin a few years back i was involved in a car accident. the womens attorneys sued for ...
A: Each state has exemptions to protect assets. You should meet with a local bankruptcy attorney to ...
|
| Filing taxes post bankruputcy discharge | 1/30/2008 |
Q: I have completed a Chapter 7 bankruptcy during 2007. I am unsure how, or if, I am required to report ...
A: As far as I know, there are no special deductions or exemptions to list when filing your taxes in ...
|
| Getting out of Bankruptcy | 1/30/2008 |
Q: I need to know how can refinance my home loan andget out of bankruptcy.
A: I assume you are in chapter 13 bankruptcy. You will need to seek out a lender and get a proposed ...
|
| chapter 7 questions | 1/28/2008 |
Q: My wife and I recently filed chapter 7(with an atty).I would like to know if I can talk to a lender ...
A: If you do not reaffirm, then there is no negotiation with the lender. The reaf may have better ...
|
| Chapter 7 | 1/28/2008 |
Q: Went in for a consultation for chapter 7 but new questions arise after the consultation. 1. Been in ...
A: 1. You would need to still file in SC for 90 days after you move. 2. List all assets, and your ...
|
| chapter 13 | 1/27/2008 |
Q: I have about 22,000 in unsecured debt. All very high interest rates (cc's and 3 personal loans). I ...
A: With Chapter 13, you would pay back anywhere from 10-100% depending on your income, and depending on ...
|
| Chapter 7 | 1/26/2008 |
Q: I have filed Chapter 7 and included my home (in Georgia). The mortgage attorney has a court date of ...
A: Once tyhe stay is modified, the lender will start the foreclosure process. Foreclosures can be up ...
|
| Bankruptcy, Marriage and IRS | 1/25/2008 |
Q: I have almost 2 years with my husband. He decided to file a Chapter 7 because he created a ...
A: 1. A cosigned debt is equal responsibility. So, whatever your husband doesn't pay, you will be on ...
|
| bankruptcy and my home | 1/24/2008 |
Q: OK, lets see if I can keep this short and still start at the beginning. Seven years ago, my ...
A: Each state has exemptions to use to protect assets. Depending on the value of your home, your ...
|
| Judgement | 1/22/2008 |
Q: I recently sued someone for causing a lot of trouble for me resulting in me being arrested. I won ...
A: Not necessarily. If he is doing chapter 13, then you can file a claim and receive a portion of the ...
|
| Bankruptcy | 1/22/2008 |
Q: I have recently Quick Claimed my brother a small parcel of property in MI. I live in AZ and am ...
A: It would be something to review with your attorney. Transfers of real estate have to be disclosed ...
|
| Chapter 7 | 1/20/2008 |
Q: I live in Florida and am wondering if I can file a chapter 7 on my own or does the new law state I ...
A: You are not required to have an attorney, although it is highly recommended. You should file any ...
|
| Ex-Wife filed for Ch 7 and Included the house | 1/19/2008 |
Q: my Ex- wife just filed for Ch 7 including all her Creditcards and also she included the First Mtg. ...
A: You can keep the property, and would have the right to the rental income. Your divorce decree would ...
|
| bankruptcy and morgage | 1/19/2008 |
Q: we filed bankruptcy and somehow the house was never reaffirmed now we paid on this monthly until 3 ...
A: With no reaffirmation, the debt discharges thru bankruptcy. Their mortgage lien stays on the ...
|
| debt | 1/17/2008 |
Q: This may not exactly be a "law" question but you obviously know a lot about money so that's why I'm ...
A: You may want to contact the US department of Education first, as there are benefits to be able to ...
|
| Chapter 7 | 1/17/2008 |
Q: My exwife borrowed $28,000.00 against my credit card after our divorce. I cannot repay this because ...
A: Yes, Chapter 7 bankruptcy is an option to discharge the debt. You need to be careful of the ...
|
| Chapter 7 Bankruptcy and Car Loan | 1/15/2008 |
Q: My husband and I were just discharged of our Ch 7 bankruptcy in December. Along with the bankruptcy, ...
A: The car note is probably being reported as discharged on your report since you did not sign the ...
|
| Really need to know....... asap pls.....? tnx | 1/15/2008 |
Q: i really need to know as soon as possible what chapter 7 and chapter 13 really is in layman's ...
A: the short answer is that Chapter 7 discharges unsecured debts and Chapter 13 is where you pay some ...
|
| Asking for motion to incur debt | 1/14/2008 |
Q: I saw the answer you gave the previous person who asked about getting a mortgage while in a chapter ...
A: There is no form per se, but you need to draft a motion to request permission to purchase the home. ...
|
| Bankruptcy | 1/12/2008 |
Q: We recently had our Chap 7, no asset, bankruptcy discharged in Maryland. 95 days before filing, the ...
A: The lender has a lien on the CD, and will not release it until the debt is paid in full. Because ...
|
| pending divorce and backruptcy | 1/11/2008 |
Q: We were in court to finalize our divorce, right before we were to go before the judge, his attorney ...
A: Yes, a party can file bankruptcy at any time. Your divorce decree can allocate debts between ...
|
| Co-Signers | 1/11/2008 |
Q: I am filing chapter 13 in the state of Georgia. I have 2 questions. I have a car loan and a credit ...
A: 1. There are no reaffirmations in chapter 13. You can choose to pay 100% of the claim with contract ...
|
| Bankruptcy Notification/Proof of Claim | 1/10/2008 |
Q: Our company has only experienced a few creditor bankruptcies (the last one was 8-10 years ago). ...
A: Usually you have 90days from the date of the meeting of creditors to file your claim if it is a ...
|
| Chapter 7 Bakruptcy/Income Tax Returns | 1/10/2008 |
Q: My boyfriend needs to file bankruptcy. He has so much debt from his divorce, a house that was ...
A: Each jurisdiction is different in what the trustee can collect on. Each state has exemptions to ...
|
| Buying a house | 1/10/2008 |
Q: I am currently in a chapter 13 with one year complete and 2 more to go. My question is: I have an ...
A: You would need court approval to purchase the home. The court wants to see that it is reasonable ...
|
| AMENDING CHAPTER 7 BEFORE DISCHAGE | 1/10/2008 |
Q: Happy New Year to you. I had my 341 hearing in December, 2007 and I am awaiting the discharge. My ...
A: I would assume you have listed the car company on the bankruptcy, Schedule D of secured debts. IF ...
|
| Ch 13 and division of assets in divorce | 1/9/2008 |
Q: If the divorce Court orders one partner to pay the other's legal fees because of non-compliance, can ...
A: if the amount was incurred before the ch13, then you cannot collect until discharged or until you ...
|
| Chapter 7 | 1/9/2008 |
Q: I paid a kitchen designer $12,000 to order kitchen cabinets. They cashed my check but never ordered ...
A: If the company has any assets you may file a claim in their case to receive a portion of the payout ...
|
| Student Loans | 1/9/2008 |
Q: in 1980 I filed a BK which included my student loan for 8,000. I never heard from them after that ...
A: You should speak to your attorney regarding the bankruptcy laws at the time you filed. Current law ...
|
| levels of bankruptcy | 1/8/2008 |
Q: I'm just wondering if there is different levels of bankruptcy. ANSWER: Chapter 7 eliminates ...
A: If you financed big ticket items on a store account, they would be considered secured. (like a car ...
|
|
