I have three appraisals from Kelly Blue Book, NADA and CarMax. Will court use the values from these entities or do I need to use a certified auto appraiser?
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answered on Jan 11, 2024
It depends on your trustee, but I've never had one challenge Kelly Blue Book, so don't waste your money on a more formal appraisal unless your car is in really bad shape, making it worth (in your opinion), less than the lowest blue book value. Also, so long as your equity in the car is... View More 
I have three appraisals from Kelly Blue Book, NADA and CarMax. Will court use the values from these entities or do I need to use a certified auto appraiser?
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answered on Jan 12, 2024
In a Chapter 7 bankruptcy case, when redeeming an auto, appraisals from sources like Kelly Blue Book, NADA, and CarMax are often considered credible and can be used to determine the vehicle's value. These sources are widely recognized and provide a good indication of the current market value... View More
Form 108 and redeem the vehicle. I owe more than the car is worth. I have three appraisals from Kelly Blue Book, NADA and CarMax ranging from $1200 to $1440. My check engine light is on and believe I need a new catalytic converter which would further reduce the value. Question. Will these... View More
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answered on Jan 12, 2024
When filing a motion to redeem an auto in bankruptcy, using appraisals from sources like Kelly Blue Book, NADA, and CarMax can be a practical approach to establish the vehicle's current market value. These appraisals are commonly recognized and often accepted in bankruptcy proceedings, but... View More
Form 108 and redeem the vehicle. I owe more than the car is worth. I have three appraisals from Kelly Blue Book, NADA and CarMax ranging from $1200 to $1440. My check engine light is on and believe I need a new catalytic converter which would further reduce the value. Question. Will these... View More
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answered on Jan 10, 2024
If you are underwater on your car loan, as you indicate, my recommendation is that you not reaffirm your loan. Just keep making payments. If you must reaffirm it, you can negotiate with the lender on the amount due and the interest rate, but there is nothing that requires the lender to make you a... View More
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answered on Jan 6, 2024
In a situation where you suspect fraudulent activity involving the use of a forged signature to take over your company, it's critical to act swiftly and decisively.
First, gather all relevant documentation that can support your claim. This includes any paperwork related to the... View More
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answered on Jan 6, 2024
If you've filed for Chapter 7 bankruptcy as an individual and received a discharge in October 2021, this does not automatically preclude your incorporated company from filing for bankruptcy under either Chapter 11 or 13.
It's important to understand that individual and corporate... View More
I completed class and my case has been reopened. What is next step? Do I need to file a motion to have case discharged? To my knowledge this is the only reason my case was not discharged.
Also, what is the process for reaffirming exempt debts such as an auto loan? I filed pro se. Thank You.
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answered on Jan 4, 2024
After completing the second Financial Management Course and reopening your Chapter 7 Bankruptcy case, the next step usually involves notifying the court that you have fulfilled this requirement. This is typically done by filing the certificate of completion for the course with the court.... View More
I am under contract for a yet to be completed new construction home. The builder went into receivership due to financial problems and it appears the bank will be foreclosing on the property I have been waiting on for almost two years. The builder has a very large builder deposit I provided at... View More
answered on Jan 3, 2024
Bankruptcy relief is exclusively a federal right and procedure, with its own courts.
However, most states have a "receivership" insolvency proceeding that is valid (and utilized sometimes in foreclosure proceedings, or regarding insurance companies that are not eligible for... View More
I am under contract for a yet to be completed new construction home. The builder went into receivership due to financial problems and it appears the bank will be foreclosing on the property I have been waiting on for almost two years. The builder has a very large builder deposit I provided at... View More
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answered on Jan 3, 2024
In a situation where your new construction home is facing foreclosure due to the builder's bankruptcy, the fate of your contract and deposit can be complex and uncertain. The contract you have with the builder may be considered an asset of the builder's bankruptcy estate, and its handling... View More
I am under contract for a yet to be completed new construction home. The builder went into receivership due to financial problems and it appears the bank will be foreclosing on the property I have been waiting on for almost two years. The builder has a very large builder deposit I provided at... View More
answered on Jan 3, 2024
I agree with other counsel and will note that Texas has a specific statute--the Texas Construction Trust Fund Act--that requires payments made to a contractor under a construction contract to be held in a separate construction account with a financial institution if the contract is for improvements... View More
After filing paperwork for the sale of my primary residence, Midland, TX 79701, a Texas Abstract and Title company informed me there was a lien on my home in the amount of $8,806.52 by Attorney Mr. Moss representing Capital One Credit Card company, and this amount will be withheld from my... View More
answered on Dec 15, 2023
If you have declared that your primary residence is also your homestead, any judgment lien does not attach to it. Your title company should be aware that a judgment lien does not attach to a homestead. Moreover, if your Chapter 7 bankruptcy discharged the judgment in favor of Capital One, you can... View More
My Claim ($560K) has been disputed stating the claim exceeds the statutory limit for priority claims under code 507 (a) (4) and to be moved to "disputed".
answered on Dec 14, 2023
There is a statutory limit per employee of about $13,500 or so for priority (exact amount depends when the bankruptcy case was filed). The remaining amount of the claim would be reclassified as a general unsecured claim (unless there is another basis for objection). You may want to reach out to... View More
My chapter 7 was discharged 2018. Now I recently got divorced and all the bills were in my name and now I am in a bad financial situation and need to file again. If it's too soon to file, will they look at certain situations to file early.
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answered on Dec 4, 2023
If your Chapter 7 bankruptcy was discharged in 2018, you must wait 8 years from the date of filing the previous Chapter 7 case before you can file for Chapter 7 bankruptcy again. This means you would be eligible to file again in 2026.
In the meantime, there are other options you might... View More
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answered on Nov 23, 2023
There is a form to request the Bankruptcy Court to waive the filing fee. Check your local Bankruptcy Court website (www.uscourts.gov). They usually provide information on free legal services. You can also check upsolve.org. If it's available in your area, its services are free to those who... View More
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answered on Nov 27, 2023
Filing for bankruptcy without the ability to afford a lawyer can be challenging, but there are options available to assist you. As a disabled veteran, you may qualify for free or reduced-cost legal services. Many states and local bar associations offer legal aid programs, and some specifically... View More
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answered on Nov 8, 2023
Para declararse en quiebra, generalmente debe presentar una petición y otros documentos requeridos ante un tribunal de quiebras de su área. En Killeen, TX, deberá presentar la solicitud en el Distrito Oeste de Texas.
Si está buscando ayuda legal gratuita, podría considerar comunicarse... View More
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answered on Nov 8, 2023
El costo de declararse en quiebra varía según el tipo de quiebra que se presente y su ubicación. Generalmente, existen honorarios de presentación judicial, que son costos fijos que se pueden encontrar en el sitio web de los tribunales de EE. UU., y honorarios de abogados, que pueden variar... View More
I spent many years traveling and lived in Canada which didn’t require me to renew my Texas drivers license,Now that I am back in Texas full time I went to get my license and DPS told me that I am ineligible due to a citation and failure to appear received in 2015 in Brazoria county. 2015 I was... View More
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answered on Nov 5, 2023
Filing for Chapter 13 bankruptcy can potentially help reinstate your driver's license if the underlying reason for the suspension is the inability to pay fines associated with the citation and failure to appear.
When you file for Chapter 13, you propose a repayment plan for your... View More
Scribe Media LLC just filed for bankruptcy. Their assets were previously sold to a second business named Enduring Ventures, which has since been operating under the Scribe Media name. As a client that has not received services paid for under contract with Scribe Media LLC, is this "new"... View More
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answered on Nov 5, 2023
The responsibility of the new entity (Enduring Ventures operating as Scribe Media) to honor contracts from Scribe Media LLC depends on the specifics of the bankruptcy case and the asset purchase agreement. If Enduring Ventures purchased the assets of Scribe Media LLC free and clear of its... View More
I have filed disability. I have other things to pay food and housing and cannot pay the creditor. I do not have money to file bankruptcy either
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answered on Sep 14, 2023
Given your medical condition and financial constraints, it may be advisable to consult with a legal aid organization or seek pro bono legal assistance to explore possible options for managing or negotiating the debt with the creditor. Additionally, you can consider exploring debt relief programs or... View More
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