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Questions Answered by Sherri B. Simpson
2 Answers | Asked in Bankruptcy for Florida on
Q: I am in need of Bankruptcy Layer

2 years out of work and finally received SSI Diasbility but deeply in dept.

Sherri B. Simpson
Sherri B. Simpson answered on Jul 28, 2020

Your SSI should be protected. Unfortunately I am not located near you but definitely seek out an experienced attorney in your area.

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1 Answer | Asked in Bankruptcy for Florida on
Q: My husband and I filed for Chapter 7 bankruptcy in jan, and it was discharged in May

we own a home in Florida and of course plan on keeping it. I noticed my mortgage company stopped reporting on my credit, and it also appears my lawyer never reaffirmed the house as the mortgage company advised me when I called them, although my lawyers office told me to call the bank and they do... Read more »

Sherri B. Simpson
Sherri B. Simpson answered on Jul 21, 2020

Depending on the district you are in, you may be able to reopen the bankruptcy case, vacate the discharge for purposes of filing the reaffirmation agreement, file the reaffirmation agreement and obtain the order and have the discharge reissued and the case closed. We can do that in the Southern... Read more »

3 Answers | Asked in Bankruptcy for Florida on
Q: What happens on credit report if you keep making mortgage payments on chapter 7? I no longer see my mortgage at all

Not only don't I see my mortgage being reported on my credit, it's completely wiped out as if it's paid??? I have Wells Fargo and have never been late

Sherri B. Simpson
Sherri B. Simpson answered on Jul 14, 2020

Did you formally reaffirm the mortgage obligation During the chapter 7? If not, they stop reporting to the credit bureaus.

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3 Answers | Asked in Contracts and Bankruptcy for Florida on
Q: What are my rights on a promissory note on a property I invested in

I invested in a property to which I have a promissory note and after the 6 months, I would be receiving my investments back plus the interest. The promissory notes specifically states the address of the property I have the note against. 5 months in to the agreement, the debtor sold the property and... Read more »

Sherri B. Simpson
Sherri B. Simpson answered on Jun 16, 2020

Basically you have an unsecured debt in bankruptcy but you may be able to be paid out of the proceeds of the sale. Was the property the homestead property of the person who sold? My advice is to immediately retain an attorney who understands real estate, contracts and bankruptcy law and have them... Read more »

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2 Answers | Asked in Bankruptcy for Florida on
Q: Is deferred principal of a mortgage required to be repaid as arrears in chapter 13 bankruptcy?
Sherri B. Simpson
Sherri B. Simpson answered on Jun 7, 2020

The deferred principal of a mortgage under a modification agreement has to be repaid in accordance with the terms of the modification agreement. Without reading it, I can't state with 100% positivity but usually the deferred portion does not need to be repaid as arrears in a chapter 13... Read more »

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2 Answers | Asked in Bankruptcy for Florida on
Q: Does the deferred portion of a mortgage from prior mod have to be repaid as arrears in a Chapter 13 bankruptcy?

I am in the process of filing Ch. 13. Our Foreclosure judgement lists an amount appox. $31k for "streamline mods" as part of the total due back to the lender as part of the foreclosure. This is an amount of prinicipal that was deferred to either sale of home or maturity of loan as part of... Read more »

Sherri B. Simpson
Sherri B. Simpson answered on Jun 3, 2020

You should be able to list this is a separate obligation or keep it separate from the amount you are reinstating under the plan. I have handled many of these and while they are fact specific, they usually do not need to be repaid as part of the arrearage. It can be listed with specificity under... Read more »

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2 Answers | Asked in Bankruptcy for Florida on
Q: Why is Florida public record showing a judgement that was re-recorded before my Chapter 7 Bankruptcy was discharged.

Does a specific part of my petition need to be sent to Florida's public record agency? Civil circuit court has one document attached and the judgement is closed showing a zero balance.

Sherri B. Simpson
Sherri B. Simpson answered on Jun 3, 2020

Was your judgment released in your bankruptcy, or only the debt? If it was only the debt, then typically the judgment remains to cause you grief later if you refinance or even buy a home or otherwise need to access your credit. If the judgment itself was not released then you should call your... Read more »

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4 Answers | Asked in Bankruptcy and Small Claims for Florida on
Q: Does successfully cashing a previously bounced NSF debtor's check during a ch7 bankruptcy violate the automatic stay?

My Ex took $1000 that did not belong to her. She claims the taking was in error. She wrote a check to repay the $1000 which bounced due to NSF. She told me she was stopping payment on the check and filing bankruptcy. She demanded I return the check to her. I refused unless she signed a payment... Read more »

Sherri B. Simpson
Sherri B. Simpson answered on Mar 19, 2020

I believe you have violated the automatic stay as you state you were aware she was filing for bankruptcy before you cashed the check, the debt was unsecured and even though you were not given formal notice, you were put on notice and had an obligation to research first. Even if you did not violate... Read more »

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3 Answers | Asked in Bankruptcy for Florida on
Q: Can I file chapter 7 bankruptcy? I just found out one month before retirement, an old business judgment from 12 years

I just found out one month before retirement, an old business civil lawsuit judgment from 12 years ago is attempting to be collected. I would like to consider filing chapter 7 bankruptcy. I am 65 years old and planning to retire this year. Pre-retirement my income was $175,000. Post retirement... Read more »

Sherri B. Simpson
Sherri B. Simpson answered on Mar 19, 2020

You should speak to a local attorney as determination of what chapter under the bankruptcy code is a complicated and detailed matter. But good news - if your post retirement income is pension and/or social security it may be fully exempt.

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