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Creditors and Bankruptcy/Questions
| Subject | Date Asked | Expert |
| Affirmation Required? | 1/23/2012 | Brian V. Lee, Esq. |
| Q: I filed BK7 & and never missed a payment on my car. I continued payments until I paid it off. Never ... A: If you did not file a reaffirmation agreement for the car in your Chapter 7, then the debt was ... | ||
| Chapter 13 bankruptcy | 1/15/2012 | Brian V. Lee, Esq. |
| Q: I am currently in chapter 13 bankruptcy in NC with no late payments. My parents cosigned a private ... A: The lender can contact your parents because they are not protected by your automatic stay. See ... | ||
| what can I get rid of with bankruptcy | 12/19/2011 | Brian V. Lee, Esq. |
| Q: I have multiple payday loans, a title loan and a relatively small amount of credit card debt, ... A: I assume you would like to file a Chapter 7 bankruptcy, which will eliminate everything you mention ... | ||
| bankruptcy time frame | 11/20/2011 | Brian V. Lee, Esq. |
| Q: I saw in the newspaper that a tenant who is behind in rent payments, but still paying a little at a ... A: If the tenant owes back rent, you should have been listed as an unsecured creditor and received ... | ||
| Default or Bankruptcy? | 10/18/2011 | Brian V. Lee, Esq. |
| Q: I can't pay my bills. I am sure you hear many people say that on a daily basis. Unfortunately I've ... A: Putting off tough decisions rarely makes them easier. Defaulting on your debts will only damage ... | ||
| Payment Arrangements | 10/3/2011 | Brian V. Lee, Esq. |
| Q: I was out of work for 9 months and got behind on a credit card payment. The credit card company ... A: Did you get the agreement in writing? If not, the debt collector can require you to comply with ... | ||
| medical debt collections | 9/7/2011 | Brian V. Lee, Esq. |
| Q: My wife incurred a medical debt of $3,500 about 6 yrs. ago in Washington state. She recently ... A: As ridiculous as it sounds, Yes, the creditor can indeed obtain judgment on the original debt and ... | ||
| sued by creditor | 8/30/2011 | Brian V. Lee, Esq. |
| Q: I recently learned that one of my creditors is suing me. I received paperwork that instructs me to ... A: There are no debtor's prisons anymore. Once the creditor has obtained a judgment, they can harass ... | ||
| Chanper 7 bakruptcy | 8/12/2011 | Brian V. Lee, Esq. |
| Q: My wife and I started a franchise business as a LLC registered in Virginia. Nearly two years since ... A: You may be able to work out a termination of the agreement with the franchisor, however if that is ... | ||
| IRA and bankruptcy | 7/29/2011 | Brian V. Lee, Esq. |
| Q: Lee I am 57, single, no children, live in Calif. I have just under $50,000 in an IRA, but close to ... A: Do not make another withdrawal from your IRA, which is fully protected in Chapter 7 bankruptcy. Go ... | ||
| Ch. 7 and Student Loans | 7/19/2011 | Brian V. Lee, Esq. |
| Q: My husband and I filed for chapter 7 bankruptcy in 2010. We have significant outstanding student ... A: It is quite possible that the bank wrote the loan off and accepted a discharge of the loan. It is ... | ||
| credit card | 7/19/2011 | Brian V. Lee, Esq. |
| Q: Some one added me as an authorized user on a chase account, how to find out who is that person, ... A: You must contact Chase and explain the situation. They will likely require you to submit something ... | ||
| Bankruptcy | 7/8/2011 | Brian V. Lee, Esq. |
| Q: I left an abusive relationship about a month ago. My spouse put all of the bills in my name and had ... A: Wow, I am really sorry to hear all that. It definitely sounds like you're better off without him. ... | ||
| Judgement Seizure | 6/30/2011 | Regan Shinski |
| Q: I live in NY state and am completely disabled. I receive only social security disability as income ... A: I believe cars that have less than $4,000 in equity are exempt from seizure in New York. So, if ... | ||
| bankruptcy | 6/30/2011 | Brian V. Lee, Esq. |
| Q: I received money when my fiancee died because i was his sole beneficiary and it is in my checking ... A: To a bankruptcy trustee, cash is cash, regardless of the source. The trustee will seize any ... | ||
| How to calculate APR fees? | 6/28/2011 | Regan Shinski |
| Q: My intro credit APR of 0% is coming to an end (July 1). I now have a balance of $1,000. My new APR ... A: The terms are outlined in your credit card agreement. They can vary slightly from creditor to ... | ||
| Auto Charge Off | 6/27/2011 | Regan Shinski |
| Q: The last payment I made on my car loan was in the Fall of 2008. Since then my account with my ... A: It is possible but difficult to get another auto loan while this is still showing as unpaid and/or ... | ||
| Applying for CC and Mortgage | 6/20/2011 | Regan Shinski |
| Q: Am in the process of buying our first home and have pre-approval for mortgage (down payment is ... A: If you have a pre-approved mortgage I would NOT apply for new credit until the house closes. You ... | ||
| Chapter 7 and Credit Report | 6/6/2011 | Regan Shinski |
| Q: I filed chapter 7 and it was discharged in May 2010. I included my credit cards in the bankruptcy. ... A: Yes. They should be reported as included in the bankruptcy with a zero balance. However, this does ... | ||
| Bankruptcy/Financial/Real Estate | 5/21/2011 | Michael Reilly |
| Q: I own my condo. I have been out of work 3 years, still cannot find a job and things are not looking ... A: Tracey, I believe the bigger issue here is your opportunity to return to work. What are your ... | ||
| collection settlement | 5/20/2011 | Michael Reilly |
| Q: I was trying to get a settlement letter from a collection company saying they would be settling for ... A: Zach, it’s common for these collection companies to try and trick you into sending funds or ... | ||
| collection settlement | 5/19/2011 | Michael Reilly |
| Q: I was trying to get a settlement letter from a collection company saying they would be settling for ... A: Zach, The answer to your question is, Do Not For Any Reason Provide Information until you have ... | ||
| Mortgage after Chap. 7 | 5/16/2011 | Brian V. Lee, Esq. |
| Q: My husband and I will file for Chap. 7 in June 2011. We live in CA. Our home has little if any ... A: You can submit information to the credit bureaus, but they will likely simply disregard it. The ... | ||
| bankruptcy | 5/12/2011 | Michael Reilly |
| Q: I filed Chapter 7 bankruptcy in CA in 2009. My car was suppose to be excluded, and I have continued ... A: Dane, Did you file the chapter 7 pro se (without an attorney), if not, you need to contact your ... | ||
| Forgot to include creditor in chapter 7 | 5/12/2011 | Brian V. Lee, Esq. |
| Q: I forgot to include a "creditor" when I filed for Chapter 7 in 2007 in California. It's a lawsuit ... A: If the plaintiff(s) will not back down, you must move the bankruptcy court to reopen your case, ... | ||
| bank trying to collect defaulted account from beneficiary | 5/12/2011 | Regan Shinski |
| Q: my parents opened a checking account. they put me down as a beneficiary on the account. i did not ... A: I don't think so. I'm not sure why they would be trying to collect it from you. Send a dispute ... | ||
| pmi after bankruptcy | 5/3/2011 | Brian V. Lee, Esq. |
| Q: Last year my husband filled bankruptcy. In the last month or so he has been getting calls from the ... A: The insurance company is likely attempting to resolve issues between the bank and insurance company. ... | ||
| Personal Bankruptcy and LLC | 4/21/2011 | Regan Shinski |
| Q: I filed chapter 7 personal bankruptcy and received a discharge several months ago. After receiving ... A: Michael: If it is as you say, you should be fine. Ideally you would have some documents from the ... | ||
| BANKRUPTCY AND PROPERTY TAXES | 4/16/2011 | Regan Shinski |
| Q: I AM IN ILL.AND HAVE BEEN IN CHAP.13 FOR TWO YRS.1 YR. LEFT AND MY CHAP DOSENT ALLOW ENOUGH MONEY TO ... A: Is the house/escrow listed in the chapter 13? If so, you can seek an adjustment to include this ... | ||
| Served a Summons after a Chapter 7 Discharge | 4/16/2011 | Brian V. Lee, Esq. |
| Q: I filed for Chapter 7 last year and I received my discharge early this year. All my debt was ... A: This is likely an honest mistake. Call the attorney and offer to fax them the Discharge Order. ... | ||
| Car Loan Payoff | 4/13/2011 | Regan Shinski |
| Q: Shinski ... Hi Mr. Lee ... Is there any benefit to my credit rating if I maintain a car loan and ... A: There is no direct benefit to maintaining the loan as long as you have some installment loans ... | ||
| Car Loan Payoff | 4/13/2011 | Brian V. Lee, Esq. |
| Q: Lee ... Is there any benefit to my credit rating if I maintain a car loan and keep paying the ... A: Depending on your prior credit history, there is a measurable, definable benefit to having a ... | ||
| Car Loan Payoff | 4/13/2011 | Michael Reilly |
| Q: Is there any benefit to my credit rating if I maintain a car loan and keep paying the interest? My ... A: Great question! The short answer is yes, continuing to make regularly scheduled payments on time is ... | ||
| Settlement | 4/1/2011 | Regan Shinski |
| Q: I fell behind on bills (husband had a brief period of being unemployed then found a new job but ... A: The key here is if they sent you an offer of settlement and if you have kept you end of the deal on ... | ||
| Foreclosure after reaffirming debt | 3/29/2011 | Regan Shinski |
| Q: I filed for bankruptcy in April 2009 with a discharge date of August 2009 and reaffirmed both the ... A: In general, yes. A reaffirmation agreement basically means you agreed to keep the mortgages out of ... | ||
| car repo | 3/28/2011 | Regan Shinski |
| Q: in 2005 i bought a car in Illinois in which my son co signed for. a few months after i got the car i ... A: It is very possible it is a legal lawsuit, but I cannot say for certain without obviously looking at ... | ||
| Repossessed | 3/24/2011 | Regan Shinski |
| Q: My car was repossessed about 1 yr ago i had lost my job right when i took out my loan(car) within 3 ... A: Only credit repair can delete the repossession from your credit reports. For a repossession, this ... | ||
| How long does it take for a creditor to repossess ATV's after bankruptcy is discharged? | 3/22/2011 | Brian V. Lee, Esq. |
| Q: My husband and I filed a Chapter 7 Bankruptcy in WA state in July of 2010. It was discharged in ... A: The alacrity with which a creditor will repossess collateral depends largely upon (1) the policy of ... | ||
| Car Repo & Credit | 3/15/2011 | Brian V. Lee, Esq. |
| Q: "In 2003 my car was repossessed, now showing up as $754 on the credit report . Recently I have been ... A: In my experience, you need to get an attorney involved in these situations. I have helped many ... | ||
| Motion to re-open | 3/14/2011 | Brian V. Lee, Esq. |
| Q: Mr. Lee: Some ruthless characters drove me to BK in 2007. Five months into my BK and 4.5 weeks ... A: The applicable law is 11 U.S.C. § 350(b) and Federal Bankruptcy Rule 5010. Generally speaking, ... | ||
Creditors and Bankruptcy
Answers by Expert:
Brian V. Lee, Esq.
Top Expert on this page
Expertise
All questions related to consumer and business bankruptcy, debt management, and personal finances are welcome. Serving clients in the DC-metropolitan area since 2005, I am licensed in Virginia and the District of Columbia. I have provided counsel to hundreds of clients with a wide variety of complex legal and financial issues. Feel free to visit my All About Bankruptcy blog for more information.
Experience
Serving clients in the DC-metropolitan area since 2005, I am licensed in Virginia and the District of Columbia. I have provided counsel to hundreds of clients with a wide variety of complex legal and financial issues.
* Bankruptcy Chapter 7
* Bankruptcy Chapter 13
* Bankruptcy Chapter 11
* Bankruptcy Terms
* Foreclosures
* Mortgage Issues
* How to Save Your Home
* How to Rebuild Your Credit
* Property You Can Keep
* Car Repossession
* Debt Test
* Tips for Consumers in Debt
* What to Expect in Court
* Washington, D.C., Exemptions
* Virginia Exemptions
* Checklist of Key Changes in Bankruptcy Law
* Changes in Chapter 7 & 13 Bankruptcy Law
* Big Changes in Bankruptcy Law
Organizations
DC Bar, VA Bar
Publications
http://www.lee-legal.com/bankruptcy-blog
Education/Credentials
I am a graduate of Rutgers University and the George Mason University School of Law.
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