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Questions Answered by Aaron Michael Lloyd
5 Answers | Asked in Bankruptcy for California on
Q: Should I file for bankruptcy to get out of a timeshare
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Aug 10, 2020

It depends. How much do you owe on the timeshare? Are you past due on any fees or maintenance fees? Do you have other debts? Bankruptcy can eliminate your debt and any debt or remaining loan balance you have on the timeshare. Bankruptcy allows you to surrender the timeshare back and walk away from... Read more »

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5 Answers | Asked in Bankruptcy and Tax Law for California on
Q: Can I do a Bankruptcy for Property Taxes if paying it will cause Financial Burden to family and get a fresh start?

Five years behind waited because I didnt know what to do and pay for it but I understand to pay now but its like cant get a loan due to bad credit not working due to Covid.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Aug 10, 2020

Do you still own the property that the property taxes go to? If you no longer own the home then you can file bankruptcy on the property taxes but on the other hand if you own the home then the property tax is still owed.

If you still own the home then property tax is treated as having a...
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4 Answers | Asked in Bankruptcy for California on
Q: Wat happen with my case
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jul 23, 2020

Hello,

Did you file a bankruptcy case?

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4 Answers | Asked in Bankruptcy for California on
Q: Can a credit card company included in a chap 7 bankruptcy from 2016 still report as current account on your report?.

I filed for chap 7 bankruptcy in 2016 and it was discharged.

I’m checking my report and it shows that 3 of the accounts I filled for are reporting as current accounts that will be dropped by 2023.

The others are reporting as included in bankruptcy and will be dropped by 2023.... Read more »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jul 21, 2020

Are balances being reported? If not, and the accounts say current is there a reason why you could not want that reported? Usually an account being reported as current is a good thing and helps your score.

Also, if at the time your filed bankruptcy those 3 accounts had zero balances then it...
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3 Answers | Asked in Bankruptcy for Pennsylvania on
Q: can an old partner still use my business line of credit w/o my knowledge? and file bankruptcy w/o my knowledge?

I checked my business credit recently and see there is a home equity line of credit, and auto loan and a bankruptcy, I didnt do any of this. and I have not been in business with this person for more that 8 years.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jul 16, 2020

I would also recommend to consult with a bankruptcy attorney so you know your options in case you need to file a bankruptcy. Chapter 13 bankruptcy allows one to protect high value assets while chapter 7 bankruptcy can be done for those who do not have many assets and who have low income. Whether... Read more »

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2 Answers | Asked in Bankruptcy for Florida on
Q: What happens on credit report if you keep making mortgage payments on chapter 7? I no longer see my mortgage at all

Not only don't I see my mortgage being reported on my credit, it's completely wiped out as if it's paid??? I have Wells Fargo and have never been late

Is it better to have a Reaffirmation Agreement? Is it the same to have as not to have one, other then without it never gets... Read more »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jul 14, 2020

Generally, a mortgage company does not have to report to the credit bureaus. However, just because it is not being reported does not mean you should discontinue your mortgage payments. If you want to keep your home then you should keep making your mortgage payments. Most mortgage companies will... Read more »

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2 Answers | Asked in Civil Litigation for California on
Q: What happens when someone files a court case? Do cases appear on PACER?
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 24, 2020

Generally, if a bankruptcy case is filed it does appear on PACER. One needs to create a login to access PACER and know how to use PACER to access these cases.

I hope this is helpful.

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4 Answers | Asked in Banking and Bankruptcy for California on
Q: Objectively, can creditors in Chapter 7 garnish checking account money from State and Government benefits?

Benefits including Social Security, stimulus check and Unemployment Insurance due to Covid-19 in California.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 15, 2020

Are you currently in a bankruptcy case? Outside of bankruptcy, a creditor can levy a bank account. Once levied upon it is up to the judgment debtor to object and file the necessary paperwork to protect any kind of social security or retirement benefits. The court does not know what funds have been... Read more »

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4 Answers | Asked in Banking and Bankruptcy for California on
Q: Hello, I am receiving unemployment insurance in my checking account after the 341 meeting of creditors chapter 7 in Ca

No creditor showed up for my 341 meeting. Can they still take money from my checking account? Thanks!

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 15, 2020

If you listed your creditors on your bankruptcy papers and they received notice of your bankruptcy, then they are prohibited from attaching a levy to your bank account to collect on a debt you had prior to the filing of bankruptcy.

The bankruptcy automatic stay is terminated upon your case...
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4 Answers | Asked in Bankruptcy and Estate Planning for California on
Q: What happens to assets & property in a revocable trust upon the trustor's death if in the process of bankruptcy?

My mother just passed away. She has a revocable trust, of which I am trustee/executor, state of AZ. She was in the process of filing bankruptcy but did not officially file with the court yet. What are my responsibilities as trustee? Do the beneficiaries have a right to the proceeds from the sale of... Read more »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on May 27, 2020

I am truly sorry for your loss. Contact your mother's trust attorney asap as there are likely deadlines for notice requirements and other procedural deadlines. Since it sounds as though the trust was created in Arizona you should consult with an Arizona trust attorney. Each state has its own... Read more »

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3 Answers | Asked in Bankruptcy for California on
Q: What are reasonable attorney fees for a BK 13 case that was not confirmed. How can I see what the court would consider

What would the court consider excessive? The case was not confirmed they recommended dismissal now they want to take the whole 15 grand the trustee is holding

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Apr 24, 2020

It really depends on the complexity of the case and the law firm involved. Each lawyer has a different hourly rate, which can also factor into the fee and whether it is reasonable. Did you ask your lawyer for a breakout of their fees? I suggest you ask your lawyer about this and at what rate they... Read more »

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3 Answers | Asked in Bankruptcy for California on
Q: I have a discharged bk chp 13 I wanted off my crdit report I dispued it with the agnecies what to do next?
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Apr 16, 2020

A bankruptcy filing is allowed to be reported for up to 10 years. Once that time passes you may dispute it and have a lawyer help you with that.

Disputes are usually reserved for inaccuracies on a credit report. If you have something other than this you want to dispute that you think it...
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3 Answers | Asked in Bankruptcy for California on
Q: I had my meeting with trustees 30 days ago. I put some money from my savings which was protected and bought stocks

Will this affect my bankruptcy. It was 800 dollars worth

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Apr 10, 2020

You should be ok with doing that (I am assuming you are in chapter 7 bankruptcy and that you used the appropriate bankruptcy exemptions and that you had available room under the exemptions to protect the funds). However, until the bankruptcy trustee files his or her report of non-distribution those... Read more »

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3 Answers | Asked in Bankruptcy for California on
Q: Does it do me any good to get a promotion or a better-paying job while in Ch. 13?

My Ch. 13 was filed and approved in the summer of 2017, so I am halfway through it. If I get a raise or a better-paying job now, does whatever additional income I get just go to paying a higher amount each month to the plan? Will I have to file a new budget and get a new approval from the court?... Read more »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Apr 7, 2020

Hello,

Generally, a debtor does have to report and update their bankruptcy papers if they start receiving more income. This increased income may or may not increase your plan payments. It may depend on the type of chapter 13 case you are in and if your expenses changed.

Depending...
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2 Answers | Asked in Bankruptcy for California on
Q: I need help filing Chapter 7. I have counseling completed and most of the filing paperwork filled out. I can't afford

I am on very low income and unable to pay an attorney. I had health issues. Counseling completed. Most filing forms completed. Getting a Credit report soon.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Mar 26, 2020

You may be able to contact your local county bar association. Often times they have services available for low income individuals. Check their website as their hours may be affected by Covid-19.

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4 Answers | Asked in Bankruptcy for California on
Q: If someone already filed for bankruptcy, waiting for hearing in morning, can another lawyer deal with removing I-lien.

I understand all of what is needed for information on bankruptcy and the need for it with filing for involuntary lien removal. All I need is to find out what the average cost is to have it removed during the process of waiting for dismissal.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Mar 2, 2020

Hello,

You may be able to hire a lawyer to remove it for you inside of bankruptcy. The cost is usually determined on a case by case basis which can range from $700 to $3,000. Alternatively, you can sometimes negotiate with the lien-holder to releasee the lien for a reasonable sum certain...
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3 Answers | Asked in Bankruptcy for California on
Q: Lost income from job. I have about 70, oo00.00 debt this includes 50, 000 owing to IRS. 1 car, 25,000.00 I'd like to

3500.00 credit cards

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jan 4, 2020

Hello,

Some of your IRS debt may be dischargeable in bankruptcy. Other debts such as credit cards, personal loans, and medical bills are typically dischargeable. You can also keep your car in bankruptcy. If you lost income and are having trouble making payments then bankruptcy may be a...
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3 Answers | Asked in Bankruptcy for California on
Q: What documents do I need to supply the trustee for a chapter 7 in San Diego?
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Nov 22, 2019

It depends on your case but usually most recently filed tax returns, 60 days paystubs, retirement account statement, life insurance policy, vehicle payoff statement if financing, vehicle lease if leasing, and at least 1 month bank statements. However, this is not an inclusive list and each case is... Read more »

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6 Answers | Asked in Bankruptcy for California on
Q: Can you advise me with a senior bankruptcy issue?

I have outstanding, very high credit card debts it is unlikely I can ever satisfy. Is bankruptcy the answer?

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Nov 15, 2019

Hello,

Bankruptcy could be a good choice. You also want to look at your annual income and property you own. If you do not own a house and make little income then a Chapter 7 Bankruptcy may be a good move for you. Chapter 7 Bankruptcy erases most of your debt in about 3-4 months. It is...
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6 Answers | Asked in Bankruptcy for California on
Q: I have some bad financial problems, I think. I am considering bankruptcy.

I have managed to get about 6 credit accounts back to a good, current status, but have about 7 getting worse everyday. Including two loans. They probably total about $25000 at the moment, and I am making about $700 a week and am not sure I can save everything. My credit has gone down to 500 and... Read more »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Aug 27, 2019

If you are drowning in debt and you have 7 credit accounts getting worse everyday then I would suggest looking into your bankruptcy options. Bankruptcy wipes out most debt and a lot of times bankruptcy allows the person to keep everything they own. Life after bankruptcy is possible and many people... Read more »

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