| Subject | Date Asked | Expert |
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| bankrupcy question | 12/8/2008 | Michael Brotherton |
Q: My wife and I got into debt. We are currently having Consumer Credit Counseling Service making ...
A: Although there are no particular rules on when to file bankruptcy I have a rule of thumb to help ...
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| vehicle dilema for the last 4-5 yrs | 12/7/2008 | Michael Brotherton |
Q: my boyfriend bought me a vehicle after I had trouble with the current car I had around 2001. we ...
A: I agree that it is ridiculous to have to pay so much for a car that was sosld for next to nothing ...
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| repo | 12/7/2008 | David |
Q: I cant afford my car payments anymore. I heard about legal loopholes and stuff .Where you can get ...
A: Caleb, If the dealer auctions your car for less than you owe...probably will...you will still owe ...
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| creditor of bankruptcy | 12/6/2008 | Michael Brotherton |
Q: The court awarded us attorney's fees in the amount of $24,000. We just received notice from their ...
A: I am curious why you were not notified until now. You should have been given notice and had time to ...
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| Being Sued? | 12/5/2008 | Michael Brotherton |
Q: I went bankrupt a couple of years ago. Now the lawyers for the bank that held my mortgage want to ...
A: I would question whether you actually owe the money because of the bankruptcy. You should fight any ...
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| Collection account with Social Security Agency | 12/5/2008 | Michael Brotherton |
Q: I am writing to you as I do not know where to turn to resolve this matter which has now ...
A: First thing is to send all comunictions in writing by certified mail. They wont lose this paperwork. ...
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| loan approval or disapproval! | 12/5/2008 | Michael Brotherton |
Q: This mortgage broker company approved my VA home loan even i didn't have money to close the loan. ...
A: There isnt much you can do ahead of this to avoid a lien. Let your attorney do his thing and things ...
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| major financial problems | 12/4/2008 | Michael Brotherton |
Q: We have considered filing chapter 7 many times. These are my questions. We owe about 220,000 on ...
A: You only have certain exemptions of equity to be considered for bk 7. I believe theexemption for ...
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| creditor of bankruptcy | 12/3/2008 | Michael Brotherton |
Q: The court awarded us attorney's fees in the amount of $24,000. We just received notice from their ...
A: You may record the lien in the county where their property is located. You may go to the recorder or ...
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| credit card debt | 12/2/2008 | Ontrack Financial Group llc |
Q: i owe over 20,000 in credit card debt that is steadily growing due to late fees,high interest ...
A: The collection industry is changing. Creditors are looking towards their bad debt portfolio as a ...
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| RV (home) Repossession | 12/2/2008 | Michael Brotherton |
Q: I hope you had a good Thanksgiving. I have a question, my wife and I moved here to Fort Valley, ...
A: You are absolutely correct. They would need a replevin to take the motor home. A breech of the peace ...
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| Trying to understand charge offs | 12/2/2008 | David |
Q: how can a company accept payment after charge off has been posted to credit report
A: Charge off just means the debt is past 120 days and the company is positioning itself so it can take ...
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| creditor of bankruptcy | 12/1/2008 | Michael Brotherton |
Q: The court awarded us attorney's fees in the amount of $24,000. We just received notice from their ...
A: It depends on the type of case you filed but in most cases the bankruptcy will discharge this too. ...
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| Foreclosure vs Bankruptcy, SBA Lein on Home | 11/30/2008 | David |
Q: We have no difficulties with all of our personal debt and have very secure jobs. We own our home and ...
A: sounds like you have some big decisions to look at. I advise you consider all options before making ...
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| SBA for LLC w/Lein on Personal Home | 11/30/2008 | Michael Brotherton |
Q: We have no difficulties with all of our personal debt and have very secure jobs. We own our home and ...
A: There are a lot of different scenarios here. First, if your business fails it doesn't necessarily ...
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| repo and finance company | 11/30/2008 | Michael Brotherton |
Q: Since the economy I may only have a few months until I can no longer pay for my 2006 car. If I sell ...
A: It is not uncommon for finance companies to accept lump sum settlements on debt. In your case you ...
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| loan approval or disapproval! | 11/29/2008 | Michael Brotherton |
Q: This mortgage broker company approved my VA home loan even i didn't have money to close the loan. ...
A: You may file a complaint with the Dept. of Commerce who licenses loan officers and mortgage ...
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| Going into Chapter 13 | 11/26/2008 | David |
Q: need to go into it fast. Once I visit the attorney and pay the required deposit How long it takes ...
A: The protection from BK is immediate. Life after BK isn't too bad if you take some simple steps to ...
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| Going into Chapter 13 | 11/26/2008 | Michael Brotherton |
Q: I need to go into it fast (I owe tax money). Once I visit the attorney and pay the required deposit ...
A: It depends on your attorney, how fast they can prepare the paperwork, but as soon as the bk is filed ...
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| Repo Advice | 11/25/2008 | Michael Brotherton |
Q: About a 2 years ago we bought a 2001 VW beetle, our interest rate was about 12% kinda high, then ...
A: You can run an add in the local paper and try to sell the VW or the trck and submit any offers you ...
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| creditor judgement | 11/22/2008 | Michael Brotherton |
Q: I live in Ohio and I recently was contacted by an agency saying I was going to be sued for a past ...
A: Your disability is exempt from attachment and your husbands accoun t cannot be touched. If they file ...
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| use of credit cards after bankruptcy | 11/21/2008 | Michael Brotherton |
Q: I receintly filed and had my bankruptcy for Chp. 7, discharged granted (me) the debtor. I had/have ...
A: If they were listed on your schedule of debts the accounts were likely closed by the credit grantor ...
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| Time Share Foreclosure | 11/21/2008 | Michael Brotherton |
Q: would default on a non-deeded (membership w/points) time share be classified as a foreclosure? It's ...
A: If the time share is not deeded it may not be a true timeshare. Real Estate law is particularly ...
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| Collection Account on my Credit Report | 11/20/2008 | David |
Q: When I purchased my house over a year and a half ago, I had very good credit. I just checked my ...
A: Anita, In my experience there are very few collection agencies that will remove the mark. If you ...
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| jointly financed car | 11/20/2008 | Michael Brotherton |
Q: In May 2007 my ex husband ( weve been divorced since 1995) agreed to help me get a nice car to dirve ...
A: You may do that but it would not relieve you of that obligation. Legally he may come back and sue ...
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| Is my only home with a mortgage protected duriing bankruptcy if it is not my primary residence | 11/20/2008 | Michael Brotherton |
Q: My fiancee and I have a mortgage on a modular home on property in my name in NC, it is the only ...
A: Although the property may be an issue in a bankruptcy case I believe you may get around that issue ...
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| Garnishments and Collections | 11/19/2008 | Ontrack Financial Group llc |
Q: In late 2006 I lost my job and was unemployed for 3 mos before obtaining new employment. In that ...
A: We understand how hard it can be to under this much stress. We can provide some help during this ...
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| Credit Card Collection Laws | 11/19/2008 | Michael Brotherton |
Q: I live in Texas and in July of 2003, my job was outsourced and my position terminated. I was ...
A: The Statute of Limitations on debt collection in Texas is 4 years.It appears the SOL is expired. You ...
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| auto repo and difecicey | 11/19/2008 | Michael Brotherton |
Q: I have recieved a letter from a debt collector on an auto deficiency. I don't owe this, I disputed ...
A: The SOL is from the date of last payment so 1/2009 would be the cutoff. They could sue you unless ...
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| Car Repossession after divorce | 11/18/2008 | David |
Q: Last December my wife and I were divorced in Washington, D.C. In the divorce decree, a car we had ...
A: Dave This situation may have an easy solution. By contacting the lender and providing them a copy ...
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| Paying off credit card with another credit card | 11/18/2008 | Michael Brotherton |
Q: I got in trouble with American Express about 2.5 years ago but reached and agreement with the ...
A: Actually, if the account was already in collection there is virtually no difference. A settlement is ...
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| Credit Score | 11/18/2008 | David |
Q: I filed for bankruptcy 11/04 and paid off the case 1/06 which was early and the case was discharged ...
A: Richard- I assume your filing was under chapter 13 since you mentioned the wage earner plan. If ...
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| LOANS AFTER CHAPTER 13 | 11/18/2008 | Ontrack Financial Group llc |
Q: My husband and I just finished chapter 13 bankruptcy in October, 2008. My husband has the idea that ...
A: He has already affected your credit in 2 ways. By requesting a loan, he has placed an inquiry on ...
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| back child support and bankruptcy | 11/18/2008 | Ontrack Financial Group llc |
Q: can back child support that is owed to the state of w.v. be dismissed thru filing bankruptcy. the ...
A: According to my findings The following debts cannot be discharged in either Chapter 7 or Chapter 13 ...
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| what bankruptcy covers | 11/18/2008 | David |
Q: I have a debt of about $10,000 from an auto accident (property damage only) and owe over$3,000 to ...
A: As much as I wish I could get that detailed with you, I'll have to recommend you speak to a BK ...
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| Time Share Foreclosure | 11/17/2008 | Michael Brotherton |
Q: would default on a non-deeded (membership w/points) time share be classified as a foreclosure? It's ...
A: In most states a time share is a deeded transaction and does require foreclosure much like a fully ...
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| Credit Score/Loans | 11/17/2008 | Ontrack Financial Group llc |
Q: I am 32 years old and have a large amount of savings in the bank. I am getting married in May. Most ...
A: A 733 score is AWESOME! Stay with the Visa you have. If you apply for another one, the inquiry ...
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| ESOP | 11/17/2008 | Michael Brotherton |
Q: I have an ESOP Account that I should be receiving in a month. I am unemployed now and on the brink ...
A: You didn't say how much you have in the ESOP. You may be able to settle your credit card debt for ...
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| personal loans and bankruptcy | 11/17/2008 | David |
Q: My (now) ex owes me a substantial amount of money that I lent to him. Since we just broke up today, ...
A: Amina- Yes, we typically use the initials BK to represent the word bankruptcy. As far as taking ...
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| personal loans and bankruptcy | 11/17/2008 | David |
Q: My (now) ex owes me a substantial amount of money that I lent to him. Since we just broke up today, ...
A: Sorry, but the answer is yes. Personal loans are included as long as they were not taken with the ...
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