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Questions Answered by Ralph Reisinger
2 Answers | Asked in Bankruptcy for Michigan on
Q: I am nearing the end of a Chapter 13 bankruptcy. I need to convert to Chapter 7, however since I am behind on my payment

I do not have the funds to catch up on the amount that I am behind on the payments. I also am unable to convert because my lawyer says that I must pay her $3000 to do that. I also have no money to pay the $3000. What (if anything) can I do to salvage my case? My case is set to close at the end of... View More

Ralph Reisinger
Ralph Reisinger
answered on Aug 16, 2023

For starters make sure you can convert. If you own your home the house value may have gone up substantially and a conversion may not be possible. If you can convert, shop around, you can always substitute attorney's and there may be someone who can help you for less than the quoted amount.

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2 Answers | Asked in Bankruptcy and Collections for Michigan on
Q: I have roughly 100,000 equity in my house am in disability and have about 20,000 of debt I am having an issue paying

Comb of 3 cc and left over debt from repo car. What are my options I can’t get a home equity loan as I don’t make enough.

Ralph Reisinger
Ralph Reisinger
answered on Jun 19, 2023

It depends on your home value. If the home is worth 200,000 the combination of the State Exemption $69,200 and the liquidation cost of $20,000 would reduce the required payoff to around $10,000. If the house is worth more, the amount you would have to pay in would be less because the liquidation... View More

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3 Answers | Asked in Bankruptcy for Michigan on
Q: If I have equity in my house will I still be able to file chapt 7 bankruptcy?
Ralph Reisinger
Ralph Reisinger
answered on Jun 19, 2023

The question is, can you protect the equity. It depends on your marital status, the type of debt you have and the amount of equity. For example if you are single, and you use the Federal exemptions you can protect up to 27,900 if you use Federal Exemptions or $46,255 if you use State Exemptions.... View More

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1 Answer | Asked in Elder Law for Michigan on
Q: Will I be reimbursed for personal loans before Medicaid is reimbursed for my parent's house?

My parent's only asset is her house. She has very little cash. If I loan her money for essential expenses, will I be able to get that money out of the house when it is sold, before Medicaid is eventually reimbursed for nursing home care? Thank you.

Ralph Reisinger
Ralph Reisinger
answered on Oct 3, 2023

I suggest a Ladybird deed which would transfer the house to you on Death and there would be no Medicare recovery

3 Answers | Asked in Elder Law, Estate Planning and Probate for Michigan on
Q: My parents died leaving a trust. How do I go about getting the trust dissolved?
Ralph Reisinger
Ralph Reisinger
answered on Aug 18, 2023

The trust should indicate who the Successor Trustee is. That individual will have to administer the trust assets in accordance with the trust.

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2 Answers | Asked in Bankruptcy for Michigan on
Q: Once I sign a reaffirmation agreement, how long does it take the attorney to file it in court?

I signed reaffirmation agreements for my car and a credit card and I would just like to know how long does it take to be filed and received by the court. I know when you file bankruptcy that it is received by the courts pretty quickly so I was wondering if it worked the same way with reaffirmation... View More

Ralph Reisinger
Ralph Reisinger
answered on May 12, 2023

Generally the Reaffirmation Agreements are filed by the Creditor, so its up to them to get it filed. Also I hope the Credit Card was linked to the car loan through a credit union. The Courts rarely allow reaffirmations on credit cards.

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3 Answers | Asked in Bankruptcy for Michigan on
Q: I am interested in converting my Chapter 13 bankruptcy to a Chapter 7.

My attorney (the one who is representing me in the Chapter 13), wants me to pay her $3,000 to convert. I do not have $3,000, and I am aware that the court only charges a small ($25?) conversion fee. I understand that she wants to get paid for her work, which is understandable. However, I don't... View More

Ralph Reisinger
Ralph Reisinger
answered on Mar 20, 2023

You can always get a different attorney. I suspect the attorney has not gotten his/her Chapter 13 fee paid and wants to make sure he/she gets paid before converting.

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3 Answers | Asked in Bankruptcy for Michigan on
Q: how soon can I file chapter 7, If I file a chapter 7 in January of 2016?
Ralph Reisinger
Ralph Reisinger
answered on Sep 12, 2022

You can refile 8 years after the most recent Chapter 7 filing. You can file a Chapter 13 and 4 years after your most recent Chapter 7 filing. Depending on your circumstances you may want to file the Chapter 13 to stop garnishments etc.

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4 Answers | Asked in Bankruptcy for Michigan on
Q: What happens if you don’t turn in your tax return and/or refund on a chapter 13 bankruptcy?

I have been in my chapter 13 for over 2 years and realized I was supposed to supply tax returns and refunds to the trustee but I haven’t. I’m not sure what my next step is as I’m afraid to bring it up and have my case dismissed.

Ralph Reisinger
Ralph Reisinger
answered on Aug 16, 2021

It depends on what Trustee you have and what you did with them money. In a Chapter 13 you are supposed to turn over all of your "Disposable Income" to the Trustee. However, if you have unexpected expenses, like car repairs, or a need to replace appliances, or periods of unemployment,... View More

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3 Answers | Asked in Bankruptcy for Michigan on
Q: What is the approximate cost to file bankruptcy?

Im not certain which chapter I would need to file. Im divorced & have no assets. I have less than $20,000 debt, such as judgements from credit cards and a previous landlord, medical & miscellaneous debt. I’m also making small payments on federal student loan debt and am in good standing... View More

Ralph Reisinger
Ralph Reisinger
answered on Dec 10, 2019

Based on the information you provided you would most likely file a Chapter 7 Bankruptcy. Assuming your last Bankruptcy was a Chapter 7 you would qualify for another Chapter 7 since its been over 8 years. One thing you need to consider is any possible inheritance. If you inherit within 6 months of... View More

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