Christopher H. McCormick's answer Not clear what you are asking in relation to your interest in LLC. If your concern is whether you could exempt your interest in LLC in Chapter 7 personal filing it will depend on market value of your small interest in LLC. You should consult with a local bankruptcy attorney to review all the facts of your situation to determine if Chapter 7 is a good option for you.
Christopher H. McCormick's answer Since they the creditor has a judgment against your reference to a statute of limitations defense is not applicable. Other than paying off debt in full only other way to stop garnishment is to file bankruptcy preferably Chapter 7. If you want to explore your bankruptcy options I recommend you consult with a local bankruptcy attorney.
Christopher H. McCormick's answer Unfortunately for you yes. Charge off is a credit reporting action, but does not affect your underlying liability under the note and mortgage you signed with the creditor. A charge off combined with the release of your second mortgage would have provided you the ability to avoid the payoff of the second mortgage. In situations like this it is difficult refinance your mortgage debt since despite the charge off Bank's usually do not discount debts for refinances you can try to negotiate, but you...
Christopher H. McCormick's answer The foreclosure mediation program administered by the Connecticut Superior Courts is limited to owner occupied properties. For investment properties owners have to negotiate directly with lenders for loan modifications.
Christopher H. McCormick's answer Unfortunately the only way to get rid of the life use is to probate your grandmother's estate. An estate tax return reflecting the full value of the property needs to be filed with the probate court and a certificate releasing the estate tax be issued and recorded. This terminates the life use interest in the property.
Christopher H. McCormick's answer If your buying property from bank that foreclosed or entity they assigned property to the seller is responsible for all real estate taxes due up to point of sale. The sales conveyance tax in this state is paid by the seller not the buyers.
Christopher H. McCormick's answer The automatic stay terminated with the entry of your discharge therefore bankruptcy court approval is not necessary. This is clearly stated in Section 362(c)(2) of the Bankruptcy Code. You can try educating the lender to this fact. The problem is convincing the lender of this fact especially if your dealing directly with the bank's loss mitigation department and not their local CT counsel. Also if the lender is requesting reaffirmation of your mortgage loan as part of modification that is not...
Christopher H. McCormick's answer It is not an easy process and I recommend you hire an experienced local foreclosure defense attorney to help you recover any funds you are entitled to from the foreclosure sale of your property.
Christopher H. McCormick's answer If this profit sharing plan is a retirement plan exempt from current taxation as such than it is likely exempt and your employer would not be notified of your bankruptcy. You should consult with a CT bankruptcy attorney to determine if Chapter 7 is the best option for you and review all of the facts of your specific situation.
Christopher H. McCormick's answer Employer will not be notified of your bankruptcy filing. Only exceptions would be if they are a creditor of yours or you need to have a wage execution stopped. Under federal exemptions you will have to use wild card exemption which may be limited if you own your home and need homestead exemption. Under state exemptions wild card exemption is limited to only $1,000.00. Best to consult directly with a CT bankruptcy attorney to review the specific facts of your situation to determine if filing...
Christopher H. McCormick's answer Judgment liens on real estate in Connecticut are good for twenty years. In your situation if the judgment lien was recorded three years after title was transferred than the lien is outside the chain of title and does not need to be released since it secures no interest in the real estate. Only exception is if an attachment was recorded prior to transfer of title which this judgment lien relates back to. If there was no attachment than judgment lien would not have shown up on title search since...
Christopher H. McCormick's answer This pleading means your mother's home has already gone to foreclosure auction and the sale has been approved and completed. She may be entitled to proceeds from this sale since funds were returned to the court. It will depend on all the liens on the property. If she is still in possession she will be approached soon to vacate and may be served with an execution of ejectment. Your mom should consult with an attorney to find out more about her case and to protect her interests.
Christopher H. McCormick's answer If seller provided satisfactory proof including the basis for the $450 meaning the oil company bill relied upon for price per gallon and the tank gauge shows that the oil is there yes you should pay. The omission at closing does not remove the obligation to pay. If you do not pay the seller has the right to take you to small claims court and could get a judgment against you. In addition to being able to get a bank execution and place a lien on your property the damage to your credit is not...
Christopher H. McCormick's answer it depends on the type of student loan what type of relief may be available to you. Most bankruptcy attorneys are able to give you helpful advice how to approach this problem.
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