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Questions Answered by Christopher H. McCormick

2 Answers | Asked in Bankruptcy, Consumer Law, Social Security and Collections for Connecticut on

Q: If someone has a student loan debt, can they take if from the person's Social Security?

Christopher H. McCormick answered on Nov 10, 2018

Yes up to 15% of your social security benefit if it is a federal student loan. No if private student loan.

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2 Answers | Asked in Bankruptcy for Connecticut on

Q: I am a silent partner in an llc. I only own 1.85 percent of the business. Can I file chapter 7

Christopher H. McCormick answered on Oct 3, 2018

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... Read more »

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1 Answer | Asked in Consumer Law and Collections for Connecticut on

Q: Credit Card default fudgement in 2011. Wages garnished 18 months ago. Stat of lim is 3 yrs. Want relief

Does 3 yr statue of limitation of cc collection apply? Can I stop garnishment and recover money if Improperly garnished ? I am a paying customer.

Christopher H. McCormick answered on Sep 26, 2018

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... Read more »

1 Answer | Asked in Banking, Contracts and Foreclosure for Connecticut on

Q: In CT, If my second mortgage was written off as a bad debt in 2013, can the mortgage company continue charging interest?

I recently tried refinancing with another mortgage company. This company was prepared to pay off my first and second mortgage but needed a letter from my current mortgage provider stating that the second mortgage was closed off as a bad debt... which it is. When the request was made, my mortgage... Read more »

Christopher H. McCormick answered on May 10, 2018

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... Read more »

1 Answer | Asked in Foreclosure for Connecticut on

Q: What's the process for getting into some kind of mediation for a foreclosure on a rental property?

Christopher H. McCormick answered on Apr 27, 2018

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.

1 Answer | Asked in Estate Planning, Real Estate Law and Probate for Connecticut on

Q: How does one remove a 'life-use' clause from a real estate quit-claim deed?

Our grandmother died in 2003, having previously (1988) signed a Quit-Claim Deed giving her house to my brother, reserving life use for herself. She had no assets when she passed other than the 'life use' clause; we neglected to probate her will (out of ignorance) and now cannot locate the will.... Read more »

Christopher H. McCormick answered on Apr 3, 2018

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... Read more »

1 Answer | Asked in Foreclosure for Connecticut on

Q: Are there any kind of special taxes involved when purchasing a foreclosed property?

Christopher H. McCormick answered on Feb 9, 2018

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.

2 Answers | Asked in Bankruptcy for Connecticut on

Q: For a discharged Chap 7. Do you need court approval for a mortgage loan modification?

Filed chap 13 in March 2016, converted to chap 7 in Aug 2016, was discharged but not closed in Nov 2016. Received a permanent loan modification from my bank, they are saying need court approval to execute documents? Is this true and what form(s) are needed to file the documents.

Christopher H. McCormick answered on Dec 7, 2017

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... Read more »

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1 Answer | Asked in Foreclosure and Real Estate Law for Connecticut on

Q: procedger to recover money from foreclosure? 4 children involved? City has money.

All back taxes leins have been House was sold by city.

Christopher H. McCormick answered on Nov 14, 2017

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.

1 Answer | Asked in Bankruptcy for Connecticut on

Q: will the banks where my HSA and profit sharing plan are custodied be notified when i file for bankruptcy?

Christopher H. McCormick answered on Oct 24, 2017

At this point you need to consult with a CT bankruptcy attorney most provide for an initial free consultation.

1 Answer | Asked in Bankruptcy for Connecticut on

Q: Will my employer be notified if I have a Profit Sharing Plan and file for ch. 7 bankruptcy? And is PSP plan exempt?

Christopher H. McCormick answered on Oct 24, 2017

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... Read more »

1 Answer | Asked in Bankruptcy for Connecticut on

Q: filing chapter 7 in CT with HSA account- will that be exempt from trustee estate and will employer be notified about it?

Christopher H. McCormick answered on Oct 24, 2017

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.... Read more »

1 Answer | Asked in Real Estate Law for Connecticut on

Q: What is the statute of limitations on a judgment lien on property in the stare of CT?

The person who has a judgement lien against them sold the property 3 years before the lien was placed. Now it’s showing up 17 years after judgement lien was placed on a title search for the new owners. The new owners are told by the bank they need to pay the judgement that is on the previous... Read more »

Christopher H. McCormick answered on Oct 10, 2017

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... Read more »

1 Answer | Asked in Constitutional Law and Foreclosure for Connecticut on

Q: My mothers house is in foreclosure. The docket now says return of sale with proceeds/motion for supplemental judgement?

Christopher H. McCormick answered on Oct 6, 2017

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... Read more »

1 Answer | Asked in Real Estate Law for Connecticut on

Q: If the sellers attorney forgot to include the reimursent request for the oil in the oil tank at the closing, do I pay?

The sellers attorney requested $450 3 weeks after closing for the 160 gallons left in the tank.

Christopher H. McCormick answered on Aug 29, 2017

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... Read more »

2 Answers | Asked in Education Law, Collections and Consumer Law for Connecticut on

Q: I signed a student loan for my daughter and now she does not want to pay what is my recourse. What type of lawyer do I n

What type of lawyer do I need

Christopher H. McCormick answered on Jun 21, 2017

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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