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.
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.
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 »
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 »
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 »
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.
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 »
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.
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.
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?
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.
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 »
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.
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.
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 »
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 »
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 »
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 »
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...Read more »
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...Read more »
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.
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 »
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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