I agree with my colleague. It is important to consider your entire financial situation. Are there other debts that you have that may lead to another lawsuit? Also, there are important issues to address when reaching a settlement with a creditor depending on whether you are offering a lump sum...Read more »
Apparently, assets were collected by your Chapter 7 Trustee, or property was sold in your case, Were you aware of this during the case? Usually when this occurs, professionals are hired to represent the Chapter 7 Trustee (such as a CPA, an attorney) who are entitled to receive payment of their...Read more »
I left California due to a bad relationship. I foolishly walked away from all responsibilities as I was extremely stressed and left 30k of outstanding debt. Car loans, cc, etc. Prior to this my credit was perfect! It was the biggest mistake of my life!!
In addition to consulting with a bankruptcy attorney, I suggest you get a copy of your credit report to see what is being reported and to identify the creditors. You will need this information whether you want to settle the debt or if you decide to file bankruptcy.
A tenant claiming civil code 1708.7 sent a notification requesting to terminate the current lease due to domestic violence. However, this is a commercial lease and not a residential one. And the tenant still has an unpaid balance pending. Is the tenant able to break the lease and not have to pay... Read more »
I urge you to contact a couple bankruptcy attorneys in your area, including those you might find on this site. Many of us offer a no charge half hour consultation on the phone. You should be comfortable with the attorney you are talking with, that they have the knowledge to handle your case. I...Read more »
I suggest you contact a bankruptcy attorney - some of us offer a half hour no charge consultation - which might clarify what exactly is occurring with your claim. Do you mean that your claim was objected to by the Debtor? If litigation is required, it might be difficult to engage an attorney at...Read more »
Two friends of mine and I signed a year long lease. We agreed every month we’d split the bills for the apartment three ways. In March, they bailed on me and moved back to Mississippi. We will receive an invoice for the settlement agreement (~10K), but I don’t know who they’re sending it to.... Read more »
Unfortunately, even though all of you are on the lease, the landlord can seek payment from any one of you. Since you all signed the settlement agreement, you are all responsible for payment. However, unless other language was included in the agreement, you are all joint and severally liable for...Read more »
So my new mortgage is $640k . If my son formed a llc. My question is if he by chances get sued for a lease hold or food poisoning .. God forgive. Can landlord come after our house? How can I protect most of my interest of the house.
Responses to your question by my colleagues have provided a good summary of the issues. The key is keep you and your son's assets and debts separate from one another. Be very careful and specific about this. You may want to talk with an attorney in your area for more details.
This is if both the defendant and attached business are named in the settlement. There would be a stipulation for entry of judgment attached to the settlement. The concern is the defendant defaulting and possibly filing bankruptcy prior to making payments.
It depends on several factors including: type of bankruptcy filed, whether the individual or corporation filed bankruptcy; whether the settlement provided for some security on assets of the defendants;type of claim such as breach of contract or fraud, etc. I urge you to talk with an experienced...Read more »
I cosigned a car loan for a friend. He defaulted the car loan and the bank handed the loan to a collection agency. I had to declare bankruptcy which destroyed my once stellar credit score. As a result I'm strained financially and am still recovering my credit score. I am unable to get any... Read more »
Unfortunately, doing a favor for a friend does not always benefit you - particularly where financial issues are concerned. Had you ended up paying for the loan, you may have had a claim against the co-signer friend for indemnification for having to pay the loan. Being unable to do that, a...Read more »
Bank of America is suing me for not paying business card debt of $7000. I offered them half, they didnt agree. I cant pay more since Covid has affected business and I need to pay my employees. $7000 is the pay of one employee in my office for 2 months. Bank of America is restricting my ability to... Read more »
If Bank of America actually filed a lawsuit which was served on you, you have a specific period of time during which you need to file an answer. If you do nothing, the Bank will get a judgment against you. Contacting creditors to attempt settlement or reasonable payments can be done - a creditor...Read more »
my 64 year old sister took out several student loans about 15 years ago. At that time, she was diagnosed with advanced stage ovarian cancer. She survived the cancer, but the treatments wiped her out financially and can no longer work. She has no income, no savings, and can't get a job due to... Read more »
I agree with my colleagues - I urge you to seek estate planning advice and consult with a bankruptcy attorney as well. Perhaps the probate attorney you are consulting with can also assist. There is much to consider.
Our combined debt is about $40K and we cannot afford to pay such a high price for a lawyer right now. We want to be able to buy a home in the near future, and are considering settling each debt individually or filing BK if that would be more affordable.
I suggest you contact other bankruptcy attorneys for an estimate. Some of us offer a half hour no charge phone consultation to briefly discuss the options your are considering and fees involved. Without knowing more details, the quoted amount does seem very high.
Answers already provided have accurately responded to your inquiry. You will need the case number and name of the Debtor that filed the case. Assets are listed on Schedules A and B. If you require additional information, contact a bankruptcy attorney - many of us offer a no charge phone consult.
Mom and dad are both late in their late 70's and I know dad has $25 - $35 thousand in credit card debt and his business has at least that much. I can make the house payment but if one dies I can't pay his bills. How would bankruptcy work in California.
I agree with my colleagues. There are many issues raised in your question(s) that would best be answered by talking directly to an experienced bankruptcy attorney and perhaps a probate attorney. Some of us offer a half hour no charge consultation that might be able to provide some initial general...Read more »
Paid partial 2000.00 for filing 13 now not working and lawyer saids can pay later but I owe 7000.00 and must pay upfront to file 2400 for chapter 7 too . Do the courts look at I'm still going to be indebt and cut cost of amount I have to pay ? and car will have to pay lawyer to help me not... Read more »
The Court does not often review fees paid to a bankruptcy attorney, unless a fee application is filed with the Court (required under some circumstances). You can also consult with another bankruptcy attorney about what needs to be done in your case and an estimate of cost if you are uncomfortable...Read more »
Dismissing soon to file 7 lawyer is doing asked lawyer for itemized fees , never told me adding on 3000 plus already owe 5000 in trustee portal . I know that, If retainer said in chapter 13 I owe is this considered secured debt since they put I'd take loan on home to pay remainder if I... Read more »
Your entry is very confusing. Sit down and talk with your attorney about the fees - you should have received a Retainer Agreement explaining what services are being provided for what cost - and whether it is a flat fee or whether additional fees may be incurred. If you filed a chapter 13, a...Read more »
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