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Questions Answered by Aaron Michael Lloyd
5 Answers | Asked in Bankruptcy for California on
Q: I have about 15k in debt and another 12k to the IRS ,how much would it cost to file bankruptcy?
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jul 6, 2021

The cost depends on your financial circumstances but can range from $1,200 to $3,000. Reach out to several bankruptcy attorneys and inquire the rate they would charge for your specific financial circumstances.

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5 Answers | Asked in Bankruptcy for California on
Q: my friend is filing for bankruptcy over a $24,000 credit card bill

Igave her a check for $ 10,000 to cover rent and expenses for next 6 mos.

shes afraid to cash the check at her bank because shes afraid the court or creditors may discover it and stop the bankruptcy or worse

is there a way for her to cash the check or receive funds... Read more »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 25, 2021

Why is she afraid to cash the check? Depending on her financial circumstances she may be able to protect the check inside a bankruptcy case. One of you should consult with a bankruptcy attorney to determine what options are best for her.

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4 Answers | Asked in Bankruptcy for California on
Q: How do I get a pro bono lawyer after I file a chapter 11 claim and it gets removed and appeal is required.
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 23, 2021

Santa Ana and other bankruptcy court locations have free bankruptcy clinics. You can look into attending one of those for some free legal help and possible representation. Their open sessions are usually posted online.

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2 Answers | Asked in Bankruptcy and Small Claims for California on
Q: I need help with paying off a debt that I’m not the only one responsible for.

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 »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 23, 2021

You maybe able to get out of the lease by filing bankruptcy. Bankruptcy can allow one to reject a lease and walk away from the debt including debts with landlords. If you have not already done so you may want a bankruptcy lawyer to examine your financial situation to see if bankruptcy is a good... Read more »

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4 Answers | Asked in Bankruptcy, Contracts, Workers' Compensation and Public Benefits for California on
Q: I am the vendor in a bankruptcy case and the pay out was to commence on 2021/25/05, and the judge approved my paperwork.

Sent in claims paperwork and it was accepted and the asking of the funds was on the 25th to cover the prior court date asking amount.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 23, 2021

It is unclear what you are asking. If you need free legal assistance you can contact your local bar association. Most of them have a debt department or collection department.

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4 Answers | Asked in Bankruptcy for California on
Q: I owed $425k on my house . its value is around $1.4 million. My son needs $200k to start a business so i'm refinancing .

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.

Dave

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 22, 2021

As long as your son does not have any interest (i.e. legal or equitable) in your house then his creditors or potential creditors should not be able to go after your assets such as your house.

On the other hand, if you ever decide to file a bankruptcy, you could run into issues with the...
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6 Answers | Asked in Bankruptcy and Contracts for California on
Q: What if a defendant files for personal or biz bankruptcy before making all the payments of a settlement payment plan?

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.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jun 22, 2021

Did the individual file an asset or a no asset chapter 7 bankruptcy case?

If an asset chapter 7 bankruptcy case was filed then as a creditor you have a certain amount of time to file a form with the bankruptcy court to be eligible for an asset distribution in the case.

On the...
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4 Answers | Asked in Bankruptcy and Collections for California on
Q: Bank of America is suing me for not paying business card debt of $7000. I feel this is unfair practice in a Pandemic

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 »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on May 3, 2021

Once the lawsuit papers are served the clock starts ticking. One usually have 30 days to do something about it. Options can include, settling, filing an answer, or filing bankruptcy. If you they are not interested in settling the debt and you do not want to litigate the lawsuit then bankruptcy... Read more »

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4 Answers | Asked in Bankruptcy, Estate Planning and Collections for California on
Q: Can bank account be garnished due to delinquent student loan?

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 »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on May 4, 2021

I highly suggest you speak with an experienced bankruptcy attorney asap.

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8 Answers | Asked in Bankruptcy for California on
Q: We are thinking of filing bankruptcy, one lawyer wanted to charge $4k, how can I find a more affordable option to file?

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.

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Apr 8, 2021

Are you filing chapter 7 bankruptcy or chapter 13 bankruptcy? Depending on the type of bankruptcy legal fees can fluctuate. For chapter 7 bankruptcy, you may be able to find a more approachable price. I would suggest to call around. Also, you want to be sure you are comfortable working with your... Read more »

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4 Answers | Asked in Bankruptcy, Consumer Law and Collections for California on
Q: I sued by credit card company
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Feb 11, 2021

If you want to eliminate the debt then you maybe able to qualify for bankruptcy. Bankruptcy stops most lawsuits and eliminates the underlying lawsuit debt. I would suggest you consult with a bankruptcy attorney so you know your options.

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6 Answers | Asked in Bankruptcy for California on
Q: Came to an agreement with collections company. They didn't hold up their end. They're also harassing. What can I do?
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Feb 8, 2021

If you no longer want to pay them anything then you maybe able to file bankruptcy. Bankruptcy eliminates collection accounts, credit cards, medical bills, and other debts. I suggest you contact a bankruptcy attorney to find out if you qualify for bankruptcy and if it is the right move for you.

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5 Answers | Asked in Bankruptcy for California on
Q: I need to know if I can file a Chapter 7 bankruptcy.

My income is below the median, but because my rent is quite low, I have about $500.00 left over each month after I pay my monthly expenses. Will the availability of the $500 each month prevent me from filing a Chapter 7?

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Feb 2, 2021

You still may be able to qualify for chapter 7 bankruptcy. You would want to go over your expenses with a bankruptcy attorney and what the forms allow you to do. You may be surprised that you may actually qualify for bankruptcy. Feel free to reach out to one of us for a free consultation.

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4 Answers | Asked in Bankruptcy for California on
Q: How do I file for bankruptcy? I lost everything due to Covid & don't qualify for help. My new business failed.

I launched a new business the day shelter in place in California occurred. I'd been building the business for over a year & living on savings that's gone. I was a teacher for 20 years and had to quit due to cancer. I don't qualify for government help though I've tried. I... Read more »

Aaron Michael Lloyd
Aaron Michael Lloyd answered on Jan 24, 2021

You may be able to qualify for a chapter 7 bankruptcy and eliminate your personal debt. It is best to consult with a bankruptcy lawyer and review your financial circumstances. Most of us offer free consultations.

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7 Answers | Asked in Bankruptcy for California on
Q: Would it be hard for me to file my own bankruptcy without a an attorneys help? I would be filing a chapter 13
Aaron Michael Lloyd
Aaron Michael Lloyd answered on Dec 10, 2020

Yes. Chapter 13 bankruptcy is very complicated and has a lot of technical procedures that if missed can result in the case being dismissed. It is best to hire an experienced bankruptcy attorney who files a lot of chapter 13 bankruptcy cases.

I hope this helps.

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5 Answers | Asked in Bankruptcy and Tax Law for California on
Q: I need to file for bankruptcy and my husband is in a Nursing Home (I have his power of attorney) and I’m retired.

Yes I’m retired, can’t receive my unemployment and the IRS, Franchise Tax Board is coming after me.

I need to file for bankruptcy.

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

Bankruptcy may be a good option for you. Bankruptcy can eliminate most debt. Schedule your free consultation with one of us and we can better assist you.

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1 Answer | Asked in Bankruptcy, Estate Planning, Foreclosure and Real Estate Law for California on
Q: Can a joint tenant/owner have a lien put on house (primary residence) if other owner passes away with credit card debt?

*California* atty. preferred:

My mother and grandmother live in Seal Beach Leisure World.

If they are both co-owners and residents (joint tenancy) of this property and one passes away (God forbid) with some credit card debt, can the creditor(s) put a lien on the property postmortem... Read more »

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

For a creditor to put a lien on real property there usually must first be a judgment. Once there is a judgment against a certain individual then that judgment creditor can enforce their judgment by either placing a lien on real property, garnishing wages, or placing a levy on a bank account. The... Read more »

3 Answers | Asked in Bankruptcy for California on
Q: I have question about filing Chapter 11 claims form 410

I have a gas and oil lease with company and company has file bankruptcy U S Court Houston, TX. And I am trying to file form 410 but having a problem understanding a question. Need Help

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

You likely would want to speak with a creditor's attorney. You should be able to Google a creditor bankruptcy attorney. You likely have some deadlines to meet so try to contact one of them asap.

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4 Answers | Asked in Bankruptcy for California on
Q: Will Chapter 7 Trustee tries to sell my property if I have equity little more than the homestead exemption amount?

Depends on which home listing sites we look at, I can have $100,000 equity or $130,000. My understanding of California Homestead Exemption who is living with a family member is $100,000.

Will Trustee use the higher estimated value and proceed to sell my property? Is there such a range where... Read more »

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

If you qualify to use the California exemptions (i.e. residing in California for a certain amount of time) then depending on your circumstances you may have the option to use the $100,000 homestead exemption (there are certain requirements needed to be qualified to take the $100,000 homestead... Read more »

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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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