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Questions Answered by Mr. J. Thomas Black
2 Answers | Asked in Bankruptcy for Texas on
Q: Under chapter 7 Bankruptcy can I keep my homeand car also will IRS INCOME TAX DEBT be discharged state is TX

I am looking to file chapter 7 Bankruptcy looking to keep my house its financed with Wells Fargo

Mr. J. Thomas Black
Mr. J. Thomas Black answered on Oct 25, 2017

So long as you can continue to pay on your home and car, yes generally speaking you can keep those. IRS tax debt can be discharged but it must meet certain requirements. Again, generally speaking if it is over 3 years old measured from the due date of the tax return, you filed the tax returns more... Read more »

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2 Answers | Asked in Bankruptcy for Texas on
Q: I have some assets left but need to file for bankruptcy. Can I gift them to my kids to "hide" them so they aren't taken?
Mr. J. Thomas Black
Mr. J. Thomas Black answered on Sep 15, 2017

Of course you can, but if it is discovered the bankruptcy trustee will likely sue your children to recover the assets. Then the trustee can object to you receiving a discharge of all of your debts. Then if a criminal referral is made, you could find yourself going to federal prison for bankruptcy... Read more »

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1 Answer | Asked in Real Estate Law and Tax Law for Texas on
Q: How can I get my deceased parents property transferred to my name? My sister isn't paying the property taxes.

My parents and grandparents passed away years ago. Two of my sisters are living on their land, but we've recently found out that they are behind in the taxes. Since there was no will at the time of death for my parents nor my grandparents, can I get the property put into my name so that I... Read more »

Mr. J. Thomas Black
Mr. J. Thomas Black answered on Sep 5, 2017

It's called probate. The probate of someone's estate refers to the process by which a Court recognizes that person's death and authorizes the administration of that person's estate, whether they have a will or not. You need to hire a probate lawyer.

1 Answer | Asked in Bankruptcy for Texas on
Q: I cosigned on my moms car and she filed bankruptcy. What does that mean for the car
Mr. J. Thomas Black
Mr. J. Thomas Black answered on Aug 23, 2017

Without more information it is difficult to say. Is she going to keep the car, pay for it and reaffirm the debt? If so you will be "off the hook" so to speak. But if she is going to surrender the car and discharge the debt, you will still be liable for any "deficiency" or... Read more »

2 Answers | Asked in Bankruptcy for Mississippi on
Q: Can i file chapter 7 again it has been over six years

In 2008 filed chapter 7 in az moved to Mississippi in 2008 can i file chapter 7 again?

Mr. J. Thomas Black
Mr. J. Thomas Black answered on Aug 28, 2014

You can file again, but you would not be eligible for a discharge in a case filed now.

Under Section 727(a)(8) of the Bankruptcy Code, you cannot receive a discharge in chapter 7 if the case was filed within 8 years of the filing of a prior case under chapter 7.

However, under...
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1 Answer | Asked in Bankruptcy for North Carolina on
Q: Joint bankruptcy with someone other than spouse?

My disabled mother and I live together, I file head of household and she's my dependent. I've lost my job, (no income) can we file bankruptcy jointly or do I file individually?

Mr. J. Thomas Black
Mr. J. Thomas Black answered on Aug 28, 2014

Under Sec. 302 of the Bankruptcy Code, joint bankruptcy cases can only be filed for spouses. Unfortunately, if the two of you have to file bankruptcy, you would have to file two individual cases.

1 Answer | Asked in Consumer Law for Texas on
Q: When in the process of converting a variable home loan to a fixed rate do we have the legal right to know end investor
Mr. J. Thomas Black
Mr. J. Thomas Black answered on May 11, 2013

Yes. The federal Truth In Lending Act (TILA) was amended in the recent past to provide that borrowers can request the name of the investor on their loan from their mortgage servicer, and the servicer must provide it. Otherwise, the borrower can recover any actual damages, statutory damages, costs... Read more »

1 Answer | Asked in Bankruptcy for Texas on
Q: After filing chapter 13 we have a balance on hand. what is a balance on hand mean?
Mr. J. Thomas Black
Mr. J. Thomas Black answered on May 11, 2013

I'm not 100% what you are referring to, but if you are referring to your chapter 13 trustee having a balance on hand, that is not unusual.

Your chapter 13 trustee cannot make distributions to your creditors, unless and until the Bankruptcy Court approves the plan, or the Trustee is...
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1 Answer | Asked in Bankruptcy for Texas on
Q: How much does it cost to file for chapter 7 bankruptcy?
Mr. J. Thomas Black
Mr. J. Thomas Black answered on Mar 21, 2013

There is a $306 filing fee currently charged by the U.S. District Clerk to file a Chapter 7 case. If you are very low income and have no assets, it's possible to ask the court to waive that amount or let you pay it in installments.

There may also be a small fee for the required credit...
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