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Bankruptcy Questions & Answers
1 Answer | Asked in Bankruptcy for Arkansas on
Q: Can you file bankruptcy on a home equity line of credit?????
Timothy Denison
Timothy Denison answered on Jun 17, 2021

Yes, but it is likely secured by your home.

1 Answer | Asked in Bankruptcy for Arizona on
Q: Are student loan disbursements exempt in chapter 7 in Arizona? Will the trustee take it?

It’s not in a bank account, but it is in a prepaid account and is only used for education expenses.

Timothy Denison
Timothy Denison answered on Jun 16, 2021

Should be exempt as post petition funds if you’ve already filed.

1 Answer | Asked in Bankruptcy for Florida on
Q: Do I make payments during chapter 7 on title loan?

I recently asked a question. I am looking to update my forms and submit a reaffirmation agreement for my vehicle as I do not want to lose it. While the reaffirmation agreement is being processed in the proceedings do I continue to make payments as I normally would. I would like to know as I am... Read more »

Timothy Denison
Timothy Denison answered on Jun 14, 2021

Ask your lawyer. You can try but they may not accept them until the read is approved by the court. It varies state to state.

1 Answer | Asked in Bankruptcy for Florida on
Q: Do I make payments on my car during bankruptcy proceedings.

I have a title loan on my car and I filed for chapter 7 in middle court of Florida. I checked that I wanted to keep making payments because I didn’t want to reaffirm or give up my vehicle. My car is exempt. I was wondering if I had to keep making payments during chapter 7 proceedings or would i... Read more »

W. J. Winterstein Jr.
W. J. Winterstein Jr. answered on Jun 14, 2021

The Bankruptcy Code gives a Ch. 7 debtor three choices of how to handle a secured claim- surrender the collateral to the creditor in full satisfaction of the secured claim; redeem, i.e., pay the secured claim in cash, or reaffirm the debt.

Perfected liens against collateral are NOT...
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1 Answer | Asked in Bankruptcy, Consumer Law and Collections for Ohio on
Q: Is it to late to file exemption once the garnishment stops

Sorry I meant start? Also I gave all my income information to the creditors lawyer and they were suppose to call me back to agree on a payment plan and never got back with me once they received my income they just went forward with the garnishment.

Timothy Denison
Timothy Denison answered on Jun 10, 2021

Yes.

2 Answers | Asked in Bankruptcy for Arizona on
Q: I live in low income housing. Do I have to count that as income when filing Chapter 7?
Timothy Denison
Timothy Denison answered on Jun 9, 2021

Yes. You must also include the subsidized portion.

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2 Answers | Asked in Bankruptcy for Florida on
Q: I posted a question earlier and got the answer but I made a mistake (paying for home insurance)

I mean paying for the home warranty for the appliances in the house. He pays for home insurance and property taxes.. Its his home after all not mine. Does this changes anything?

Correcting Prior post: I live with my BF in his paid off home and his income is SSD. I pay all the expenses in... Read more »

Cristina M. Lipan
Cristina M. Lipan answered on Jun 7, 2021

If your boyfriend is considered part of your household, his income is needed for the means test. I am not saying he is or isn't, but is a question specific to your jurisdiction. Your attorney would know. If your attorney has asked for the income, then it's probably needed.

See...
Read more »

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3 Answers | Asked in Bankruptcy for Florida on
Q: I live with my BF in his paid off home and his income is SSD. I pay all the expenses in the house including food.

I live with my BF in his paid off home and his income is SSD. I pay all the expenses in the house including food, utility and home insurance. question, is my BF income need to be included with my income in chapter 7? All the debits are mine and under my name . He is not filling for bankruptcy... Read more »

Cristina M. Lipan
Cristina M. Lipan answered on Jun 7, 2021

The issue of household income is separate from what debts exist and who is filing for bankruptcy. The household income is to determine the means test only. Who is a member of your household is the next question. If your attorney believes your BF is a "member of the household" for means... Read more »

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2 Answers | Asked in Bankruptcy for Florida on
Q: Hi, I am 59 yrs old and in disability, I earn SSD & LTD. am over $50000 in debit including $7900 IRS from 2017.

Can the IRS debits be discharged in chapter 7? My LTD will run off in 5 years and I don't have enough credits to qualify for retirement income.

W. J. Winterstein Jr.
W. J. Winterstein Jr. answered on Jun 7, 2021

Unpaid federal income tax debts become dischargeable two years and four months after the tax return is filed with the IRS. If you have filed the 2017 return more than 2 years and four months before you file a bankruptcy, the tax debt should be dischargeable, but only IF the IRS has not filed a... Read more »

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2 Answers | Asked in Bankruptcy for Pennsylvania on
Q: I'm a joint applicant on my daughter's car loan. Are they going to consider this my exempted vehicle for bankruptcy?

I'm in Pennsylvania. I'm being sued and am concerned about losing my vehicle.

I have a consultation with an attorney next week but I'm trying to ease some anxiety before then.

TIA

Timothy Denison
Timothy Denison answered on Jun 5, 2021

As long as your daughter pays the car loan she should not be affected. They will consider whichever vehicle you claim an exemption on as your exempted vehicle. That designation is solely up to you do you should not lose your own car.

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3 Answers | Asked in Bankruptcy, Contracts, Workers' Compensation and Public Benefits for California on
Q: I am the vendor in a bankruptcy case and the pay out was to commence on 2021/25/05, and the judge approved my paperwork.

Sent in claims paperwork and it was accepted and the asking of the funds was on the 25th to cover the prior court date asking amount.

Tristan Brown
Tristan Brown answered on Jun 3, 2021

Hello,

Given the information provided, I am unable to determine what information you are seeking. Please provide some additional information if you are seeking an answer or solution on this forum.

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3 Answers | Asked in Bankruptcy for California on
Q: I owed $425k on my house . its value is around $1.4 million. My son needs $200k to start a business so i'm refinancing .

So my new mortgage is $640k . If my son formed a llc. My question is if he by chances get sued for a lease hold or food poisoning .. God forgive. Can landlord come after our house? How can I protect most of my interest of the house.

Dave

Cristina M. Lipan
Cristina M. Lipan answered on Jun 3, 2021

Your son should have insurance to cover these situations. In any case, as long as you didn't guarantee the lease or anything else in the business, as long as your son's name is not on the title to the house, or as long as your son's name is not on the mortgage, then I don't see... Read more »

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5 Answers | Asked in Bankruptcy and Contracts for California on
Q: What if a defendant files for personal or biz bankruptcy before making all the payments of a settlement payment plan?

This is if both the defendant and attached business are named in the settlement. There would be a stipulation for entry of judgment attached to the settlement. The concern is the defendant defaulting and possibly filing bankruptcy prior to making payments.

Tristan Brown
Tristan Brown answered on May 31, 2021

More information is needed to determine how a bankruptcy may affect the settlement.

Once the defendant files for bankruptcy, whether it be personal or business bankruptcy, an automatic stay is generally issued. The automatic stay may legally prevent you from enforcing the settlement or...
Read more »

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1 Answer | Asked in Bankruptcy for Louisiana on
Q: Can Chapter 7 or 13 help me get my drivers license back through the DMV (which has flags dated from 2014-2020)?
Timothy Denison
Timothy Denison answered on May 30, 2021

Possibly, yes. It depends on why your license is flagged and the reasons for the suspensions.

1 Answer | Asked in Bankruptcy, Contracts and Tax Law for Minnesota on
Q: is my money exempt from levy?

a levy was filed on my husband by a CC company in Dakota county. There was $2880.00 frozen in our account because of it. My husband is currently in the Feds at FCI Gilmer in WV. He has been there for over 1 year. The judgement is for debt that was incurred before we were married or even knew each... Read more »

Timothy Denison
Timothy Denison answered on May 29, 2021

Open a. Ew account only in your name to protect yourself. If you can show that the money in this account that was seized came from your earnings, you should be able to recover it. You need to move fast as there are time limitations on filing such objections. I recommend you hire a lawyer to help... Read more »

1 Answer | Asked in Bankruptcy and Car Accidents for Mississippi on
Q: I’m in a chapter 13 and was involved in a car accident. My car was a total loss . Is there anyway I would be able to

Get the check for the insurance to get another since I’m paying for the car in the bankruptcy ? Since no one will give me a loan to get a car because my credit is low the first thing that shows up is the ch. 13 bankruptcy so it’s an automatic no. Or is there any option out there for someone in... Read more »

Timothy Denison
Timothy Denison answered on May 29, 2021

You will have to let the trustee know and get permission from the court before you can receive the proceeds to buy a new car.

3 Answers | Asked in Bankruptcy, Contracts, Civil Litigation and Collections for California on
Q: Can I sue for monetary compensation?

I cosigned a car loan for a friend. He defaulted the car loan and the bank handed the loan to a collection agency. I had to declare bankruptcy which destroyed my once stellar credit score. As a result I'm strained financially and am still recovering my credit score. I am unable to get any... Read more »

Tristan Brown
Tristan Brown answered on May 22, 2021

In general, a co-signor agrees to share liability for a debt with the co-debtor. A default by a co-debtor is often considered a default by the co-signor as well.

Did your friend use your information to apply for the loan without your consent? Did you willingly co-sign for your friend?...
Read more »

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3 Answers | Asked in Bankruptcy for Michigan on
Q: Disabilty wages, unsecured debt, home in my name and spouse. Seperate bank accounts, Can creditor put lien on my home?
Trent Harris
Trent Harris answered on May 18, 2021

Yes, a creditor who has a money judgment against you in Michigan can put a judgment lien on any real estate you own. The judgment lien is good for 5 years and can be renewed once for an additional 5 years. The judgment lien cannot be used to foreclose on the property but would need to be paid off... Read more »

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3 Answers | Asked in Social Security and Bankruptcy for Michigan on
Q: Can creditors put a lien on our home if my husbands social security money is secured in a different account?
Cristina M. Lipan
Cristina M. Lipan answered on May 18, 2021

A creditor may seek a judgment lien against real property that is owned by the Debtor (the individual who owes the creditor money). Social security income is generally not available to creditors, but it has to be in separate bank account from other funds. Bankruptcy may be an option, but you will... Read more »

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2 Answers | Asked in Bankruptcy for California on
Q: I have to file Form LBR 7016-1(a)(2) Do I need to file it at the courthouse. And have the judges’ copy stamped/deliverd
Cristina M. Lipan
Cristina M. Lipan answered on May 18, 2021

Look at the pro se rules on the Bankruptcy Court's website (I'm not sure which bankruptcy court in California you are in). There might also be a pro se clerk you can ask. You may be able to submit it online (NY has online upload for pro se debtors), or you may need to bring it to the... Read more »

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