Questions Answered by Todd Laster

Q: I have 2 cars in my name and I'm married. Can I keep both?

2 Answers | Asked in Bankruptcy for Oklahoma on
Answered on Feb 8, 2019
Todd Laster's answer
Under Oklahoma exemptions in a joint case where both spouses file bankruptcy each are able to exempt one car at a value of $7500 per vehicle. If there is a loan against a vehicle the equity should not exceed $7500 to be a protected asset.

Q: Who do I see to learn if an action has been filed on a mechanic's lien or if a hearing date has been set or is pending?

1 Answer | Asked in Consumer Law, Contracts, Foreclosure and Real Estate Law for Oklahoma on
Answered on Sep 27, 2018
Todd Laster's answer
You can search to see if a mechanic's lien has been filed on your property by searching in the land records division of the Court house where the property is located. There is a fee for copies. If the creditor makes an attempt to foreclose on the mechanics lien you should be notified by a summons.

Q: I bought a vehicle in oklahoma in feb18 with buy here pay here that had their own finance company. I surrendered .

1 Answer | Asked in Consumer Law for Oklahoma on
Answered on Jun 28, 2018
Todd Laster's answer
The deficiency balance that is still owed can be collected by the creditor in State Court by receiving a judgment and then collecting on the judgment with a wage garnishment. In Oklahoma up to 24% of a debtor's wages can be garnished for this type of debt. deficiency balances on repossessions can be discharged in a bankruptcy. If you are unable to satisfy this debt with monthly payments or by offering a one time lump sum settlement amount you may want to consider a free consultation with an...

Q: Oklahoma shows unlimited exemption for home so as long as I exempt my home should be ok correct.

2 Answers | Asked in Bankruptcy for Oklahoma on
Answered on Jun 19, 2018
Todd Laster's answer
Oklahoma does have an unlimited homestead exemption up to one acre inside city limits. However, you must live in Oklahoma for a minimum time frame before filing for bankruptcy in order to qualify for Oklahoma's exemptions. How a house is paid for and fraudulent transfer issues can also have a bearing on its exempt nature. It is best to get representation from an experienced bankruptcy attorney.

Q: When listing my house in assets do I list what's owed or what house is worth on value?

2 Answers | Asked in Bankruptcy for Oklahoma on
Answered on Jun 13, 2018
Todd Laster's answer
I hope you have an attorney to assist you in filing for bankruptcy. If so you need to direct this and all questions about bankruptcy to your attorney. If you do not have an attorney I strongly recommend you get one before filing a case.

Schedule A/B is were all assets are disclosed in a bankruptcy petition. The fair market value of the property is what you list as the value of the property in Schedule A/B. All debts are disclosed in Schedules D, E & F. The balance of the amount...

Q: I have a truck that was in c-7 bankruptcy. The lender has not repoed it in 18 months. What can I do with truck

1 Answer | Asked in Bankruptcy for Oklahoma on
Answered on Feb 6, 2018
Todd Laster's answer
1. You can call the creditor and ask them to come get the car.

2. If they refuse you can make them an offer to pay a lump sum of money in exchange for a lien release.

3. If all the above fails you may attempt a quit title lawsuit against the lien holder and seek a Court Order granting clear title to you.

Q: I'm nearly 3 years into chapter 13. My wife just had a kid but insurance didn't cover enough, I now have a $4K bill. ..

1 Answer | Asked in Bankruptcy for Oklahoma on
Answered on Jan 31, 2018
Todd Laster's answer
If you have an attorney representing you in your bankruptcy you should contact them about this issue. Chapter 13 Debtors are generally ordered not to incur debt without court approval however, there is an exception for necessary medical treatment. The debt is generally not included in the bankruptcy if it was incurred after the case was filed. The creditor cannot force you make payments while you are in an active Ch. 13 where the automatic stay is in effect. You should contact your...

Q: Does a ex spouse filing Ch13 Bankruptcy make it more difficult for me to collect attorney fees IF I did win?

1 Answer | Asked in Bankruptcy for Oklahoma on
Answered on Nov 8, 2017
Todd Laster's answer
In a Chapter 13 bankruptcy creditors are paid based on their priority status. Child Support is a priority debt that is not dischargeable. Property division is an unsecured debt and can be discharged. In a Chapter 13 plan unsecured creditors receive a pro rate share of the amount the debtor is paying to all their unsecured creditors. The percentage to general unsecured creditors in a chapter 13 plan can be anywhere from 0% to 100% depending on the debtor's disposable income. If your...

Q: We filed a chapter 13 bankruptcy less than 2 years ago. I am wanting to know if we can move it to a chapter 7

1 Answer | Asked in Bankruptcy for Oklahoma on
Answered on Apr 7, 2017
Todd Laster's answer
If you have an attorney you should direct this question to them. If you do not have an attorney it is possible to convert a Chapter 13 case to a Chapter 7 case depending on a number of different factors. If you are in a Chapter 13 because your income was to high to be in a Chapter 7 and your income has decreased you may now be able to convert. There are a handful of documents that must be filed and amended when converting a case to a Chapter 7. Good luck.

Q: Once a ISSUE SPECIAL EXECUTION AND ORDER FOR SALE. how long does a person have to get out of the foreclosed home.

1 Answer | Asked in Foreclosure for Oklahoma on
Answered on Oct 12, 2016
Todd Laster's answer
It is best to be out of the home by the date of the Sheriff's sale. However, in Oklahoma you technically have until the date the Sheriff's sale is confirmed to be out of the house. The Confirmation of the Sale hearing is approximately 30 days from the sale date.

Q: I make $51,000 a year. Can I still file chapter 7 since I am over the median income?

1 Answer | Asked in Bankruptcy for Oklahoma on
Answered on Aug 24, 2016
Todd Laster's answer
It is possible to qualify for a Chapter 7 even if you are above the median income. There is an additional portion of the Chapter 7 Means Test for debtors who are above median income that takes into consideration deductions for certain allowable living expenses, taxes, secured payments on certain debts and Court ordered payments like child support. You should meet with an experienced bankruptcy attorney who files both Chapter 7 and Chapter 13 consumer cases for a free initial consultation....

Q: My ex husband and I filed chapter 13 on our mortgage in 2007 and in 2008 got divorced.

1 Answer | Asked in Bankruptcy, Consumer Law and Family Law for Oklahoma on
Answered on Jun 9, 2016
Todd Laster's answer
If you surrendered the home in your prior bankruptcy, you may have a claim against the mortgage company violating the discharge. You should contact your previous bankruptcy attorney about this matter as you may have a claim against the mortgage company. If your prior Chapter 13 bankruptcy was dismissed instead of discharged and you are still on the mortgage the mortgage company can still collect against you even if your former spouse was awarded the home and debt in a divorce. If you former...

Q: Can I sell my home during chapter 7 bankruptcy and keep the proceeds if they are exempt? If so how?

1 Answer | Asked in Bankruptcy for Mississippi on
Answered on Jun 9, 2016
Todd Laster's answer
If you have an attorney you need to discuss this with them before you take any action. Most Chapter 7 cases only last for 3 to 4 months, so it would be best for you to wait until after your final decree is entered. However, if the house was listed as an asset and properly exempted with no objection by the Trustee it is possible but you should get an attorney or if you have one consult with them before taking any action.

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