Yes, you can, but be sure that their Order Discharge has been entered and that no appeal has been timely taken from that Order.

Also, ensure that the bankrupts will not inherit, or learn of imminent inheritance, within six months of the discharge.

The Bankruptcy provisions enabling... View More

You should have no direct legal liability for debts in your wife's name alone, but assuming that you are a beneficiary of her estate, to the extent that there are assets in her name, those estate debts must be paid before you receive any distribution from her estate.

Confer with... View More

The timing of distributions by the Ch. 13 Trustee rests with that trustee.

Maddening as it can be, I have heard more than one Judge say, "my Trustee". And once was in a case where the Trustee had over $200K of my client's money, held those funds in an IOLTA account (the... View More

You don't say whether you're in a Chapter 7 case, with a trustee, or a Chapter 13, and that can make a difference.

The general rule is (e.g., for payments to you or tax refunds) is that the amounts attributable to prepetition accrual are part of the bankruptcy estate, and the... View More

With some statutory exceptions (e.g., Pennsylvania Unfair Trade Practices and Consumer Protection Law (“UTPCPL”). In simple terms, the law gives people who buy goods or services for personal, family, or household purposes a way to privately sue businesses for illegal behavior and even for... View More

The reach-back by Bankruptcy law for "fraudulent conveyances" (transfers of assets for less than fair market value) is two years. I'm in PA, and the PA state law for like transfers is four years (which a bankruptcy trustee is entitled to use).

Your question seems to hinge on... View More

Where your US bankruptcy case has been filed makes no difference; pretty much all lenders have software that alerts them to a bankruptcy filing within a day or two of its filing.

And all the prospective lenders know of will inquire about bankruptcy filings in your loan application, and... View More

My NY colleague's answer is correct, as far as it goes.

To declare bankruptcy over just $16K is at the low end of debt issues, and may well be solved by lesser means. Most credit card issuers are pretty savvy, and will offer some altered payout/discount for you.

You can only... View More

I've practiced in several states, from TX and OK, to GA, DE, NJ and PA, and I've always promptly filed a simple Suggestion of Bankruptcy, with the bankruptcy court district and bankruptcy case number, and nothing more. That's always worked.

I recommend it as a show of... View More

This question is best directed to any of the lenders out there, each of whom makes a "credit decision" upon loan applications.

Currently, interest rates are high, and the Fed has been tightening the money supply.

My own experience is that, more than usually, lenders, even... View More

With the majority opinions of the US Supreme Court, despite the express wording of Section 506 of the Bankruptcy Code, the secured amount of any "perfected", i.e., validly filed, liens against a debtor's property will survive a bankruptcy discharge. The deficiencies, if any, of... View More

I disagree somewhat with my KY colleague.

First, because most financial institutions have, under each state's law, a right of "offset", and that is often buttressed by a written agreement or notice, which the courts may recognize as sufficient to create a lien, it is always... View More

My colleague, Mr. Siegel, is right as far as he goes, but,

a bankruptcy discharge works holders of claims that existed prior to the bankruptcy filing, not those that happened afterward. And, the bankruptcy discharge works on claimants named by you as the debtor in the bankruptcy. If, for... View More

My experience with insurance companies is that 1) they usually hope to delay payments out as long as possible, though they demand immediate payment of premiums, and 2) the quickest way to get payment if for a beneficiary to give them what they want (they have armies of lawyers on the payroll.... View More

A properly recorded lien is not discharged by a bankruptcy proceeding, whether a Ch.7 or Ch. 13 (there may be a way in a Ch.13 if there is no equity for the HELOC to attach, but that will be litigated).

Likewise, a creditor's "charge off" of any loan balance is in *internal*... View More

My gut reaction to your "normalcy" question is "No". While every prospective debtor should be totally candid with bankruptcy counsel, we use a debtor's credit report(s) to satisfy the "due diligence" requirement added to the Bankruptcy Code in the massive 2005... View More

Nationally, and for the last two decades at least, the success rate of the popular "save-the-house" Chapter cases has been less than twenty percent, even with bankruptcy counsel. Those cases run for three to five years, much like the Ch. 11 business reorgs.

The chances for... View More

Every case has context, i.e., a broader factual picture.

In your case, if you file for bankruptcy relief within the next two years, under the Bankruptcy Code, a trustee can look back and recover any transfer of property/value and recover that if the value lost is large enough to merit the... View More

Heirs' rights?

Yes, you actually do have many. The best starting point is duties of an Executrix in PA, which are many, but the overriding drive is that every personal representative of a probate estate is to maximize the value of the Estate for the benefit of creditors and the heirs,... View More

Honestly, is how you report all bankruptcy submissions.

What you file in Bankruptcy Court is subject to the penalty for perjury, a major felony penalty.

It is never a good idea to morph a mere debt problem into a potential criminal exposure.

Especially given the possible... View More