Questions Answered by Nick Curtis Thompson

Q: Got a judgement in the mail saying ordered and adjudged what does that mean?

3 Answers | Asked in Bankruptcy, Civil Rights and Collections for Kentucky on
Answered on Oct 10, 2018
Nick Curtis Thompson's answer
No this does not mean garnishment. However it is one step towards garnishment. Normally a creditor will attempt to attach any home you have, any bank account you have and your wages within days or weeks after they get the judgment. You have a very short time after the judgment is issued to appeal the judgment. If you dont appeal the judgment you have basically agreed to it and can't complain later. You may be able to file bankruptcy to avoid losing 25% of your check, all of the money in...

Q: BR discharge order for me & llc in 4/18. Can business creditor that was listed in my BR now subpoena me 3 months later?

2 Answers | Asked in Bankruptcy for Kentucky on
Answered on Aug 22, 2018
Nick Curtis Thompson's answer
A Business bankruptcy never discharges. It open for 2 years I believe but parties can be hauled back in years later. Yes you can be summonsed to testify. You can also be hauled in and be subject to turning over assets if you took company property or opportunities. This isn't like a consumer bankruptcy which closes in 120 or so days

Q: i am being garnished from an accident 4 years ago and i cant pay my bills or feex my kid. what can i do

2 Answers | Asked in Car Accidents, Personal Injury, Bankruptcy and Small Claims for Kentucky on
Answered on Jun 4, 2018
Nick Curtis Thompson's answer
You may not have been served with the complaint. Often when a creditor cannot find you they will ask for a warning order attorney. This attorney will attempt to find you and send the complaint to you. But if he cant find you the judge may and probably will eventually issue a default judgment. You can file bankruptcy, pay the debt, or try to go back to state court and dismiss the default or summary judgment which had to be granted for them to garnish your wages or bank account. If you dont...

Q: In Kentucky, If I file a chapter 13 bankruptcy, but marry after filing, how do the wife and I split the tax refunds?

2 Answers | Asked in Bankruptcy for Kentucky on
Answered on May 8, 2018
Nick Curtis Thompson's answer
In the Western District of Kentucky, it doesn't matter. The refund is paid to the Trustee if you don't have a 100% plan. You get to keep the fees for preparing the return and the earned income credit. You lose the child credit. You should increase your deductions during the year so you don't get a refund. The failure to turn over the refund and to file a budget is the basis for the Chapter 13 trustee filing a motion to dismiss your Chapter 13 case.

Q: Is it better to file bankruptcy or let a trailer go back

1 Answer | Asked in Bankruptcy for Kentucky on
Answered on Oct 24, 2017
Nick Curtis Thompson's answer
Trailers are the very worst way to purchase a home. It is almost always better to let the trailer go back and to purchase a home which increases in value over time. A Trailer always depreciates in value. If it is all you can afford I understand it. But the payment is rent and eventually it falls apart.

Q: Do I have to go to court for bankruptcy

3 Answers | Asked in Bankruptcy for Kentucky on
Answered on Oct 24, 2017
Nick Curtis Thompson's answer
Yes you do have to go to at least one hearing. About 99% of my clients only have to go to one hearing the 341 hearing. The questions are very simple and you will be asked questions about the accuracy of your petition for about 5 minutes. The Trustee is looking for hidden assets, your ability to repay and whether or not you have transferred any assets to other persons before filing. The meeting is simple 99% of the time. In a Chapter 13 you plan will also need to be confirmed by the judge...

Q: Does bankruptcy discharge maintenance obligations?

3 Answers | Asked in Bankruptcy and Divorce for Kentucky on
Answered on Oct 9, 2017
Nick Curtis Thompson's answer
No! Alimony and Child Support are not dischargeable debts they can be repaid but they are not discharged in bankruptcy. The stay does not even delay a child support or alimony hearing or order.

Q: What is a nonjudicial foreclosure?

1 Answer | Asked in Foreclosure for Kentucky on
Answered on May 17, 2017
Nick Curtis Thompson's answer
A non Judicial foreclosure is when the court is not involved in the lender recovering the property. In some states a deed of trust is held by a 3rd party and when the property is not paid for the lawyer who holds the title will convey the property to the bank upon default. Kentucky is s judicial foreclosure state but you can transfer the property with a deed in lieu of foreclosure or by a short sale. There are few or no advantages to your credit or a tax reason for doing a deed in lieu or a...

Q: Does bankruptcy discharge child support obligations?

4 Answers | Asked in Bankruptcy for Kentucky on
Answered on May 16, 2017
Nick Curtis Thompson's answer
Child support and alimony are non dischargeable debts. You can repay child support through a Chapter 13 and you can repay child support as a priority debt which paid in full before any unsecured debt is paid. Bankruptcy can be a took to repay child support but it does not discharge child support or alimony. These debts are not even stayed by filing the bankruptcy. A spouse can seek an increase in the child support amount while the Bankruptcy case is going on. The county attorney can...

Q: Can you file chapter 7 on fed taxes

1 Answer | Asked in Bankruptcy for Kentucky on
Answered on Mar 5, 2017
Nick Curtis Thompson's answer
Yes. There are 6 factors. FIRST the taxes must be at least 3 years old. SECOND you must file the returns at least 2 years before filing the bankruptcy. Third there must be no assessment within 240 days before the bankruptcy. Fourth filing any bankruptcy filed within the 3 year period will increase the waiting periods. FIFTH there must be no fraud or effort to evade the tax. Finally an offer in compromise will extend dates. A good bankruptcy-tax attorney will make this easy. MISS THE...

Q: How far behind do I have to be before the bank can start the foreclosure process?

1 Answer | Asked in Foreclosure for Kentucky on
Answered on Jan 28, 2017
Nick Curtis Thompson's answer
You only have to be contractually late to be in default. However most mortgage companies will start a foreclosure when you are 2 payments behind. It is a pretty stiff late charge and real damage to your credit. When the mortgage becomes 2 payments behind they will start to refuse to take your payments. They start to wrap up the file and they are in the process of sending it to an attorney. You will be sued at the 6 month stage and served by a sheriff or by certified mail. It is still...

Q: When does my legal responsibility for my home end during the foreclosure process?

1 Answer | Asked in Foreclosure for Kentucky on
Answered on Nov 17, 2016
Nick Curtis Thompson's answer
When you pay off the balance of the loan after the home is sold. Foreclosing the home pays part of the debt. The balance is what you owe. If you dont pay this balance the lender may obtain a judgment and garnish the balance from any checking account or your wages. They may also be able to sell other property. Even if they dont garnish the balance they will charge off the debt, then issue a 1099 to the IRS claiming you profited and had earned income from not paying you. This causes an...

Q: If I file for bankruptcy can they take my semi away? Driving is my only source of income.

1 Answer | Asked in Bankruptcy for Kentucky on
Answered on Nov 14, 2016
Nick Curtis Thompson's answer
There is an anti discrimination provision of the bankruptcy code. You never lose a professional license just because you filed bankruptcy. There may be some other reason such as an unpaid traffic violation or you didn't pay for the truck and they repossessed it. But if you lost the truck while you were in a bankruptcy case it is not because you filed bankruptcy. You lose a truck because you didn't make the payments for the truck or you lost your license because a criminal or traffic fine...

Q: If husband files bankruptcy am I, his wife, liable for his medical debts

1 Answer | Asked in Bankruptcy, Collections and Family Law for Kentucky on
Answered on Nov 9, 2016
Nick Curtis Thompson's answer
No not unless you signed to be liable for them.

Q: I filled bankruptcy in 2009 I filled on my 2 nd mortgage but I've been paying it can I stop paying it

1 Answer | Asked in Bankruptcy for Kentucky on
Answered on Nov 9, 2016
Nick Curtis Thompson's answer
Filing bankruptcy gets rid of your personal responsibility for the debt however it does not get rid of the mortgage unless you stripped the 2nd mortgage. Did your attorney talk to you about how this is done in a Chapter 13. Often if a second mortgage can be stripped and eliminated a Chapter 13 may be the best way to go in a bankruptcy. Otherwise the mortgage remains and the interest continues. When you sell the home this will have to be paid if you didn't strip the mortgage. That is why...

Q: Can a creditor listed in a bankruptcy add a derogatory closed account to your credit after the case is finalized?

1 Answer | Asked in Bankruptcy for Kentucky on
Answered on Nov 9, 2016
Nick Curtis Thompson's answer
Generally since you don't owe the account any longer you can not be overdue. A correct listing should be account closed. You will have to correct this with the credit bureaus however.

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