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Questions Answered by Cary Nathan

2 Answers | Asked in Bankruptcy for Missouri on

Q: At what point would it be "too late" for a person to file for bankruptcy?

Cary Nathan answered on Oct 19, 2018

There is no such thing as "too late" under the bankruptcy code. Sometimes you will hear people use this terminology after a home has been foreclosed on or a vehicle repossessed because, at that point, it is too late for the bankruptcy stay to stop the secured creditor from taking the property. If... Read more »

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2 Answers | Asked in Bankruptcy for Missouri on

Q: My name is on a joint title for a car my father owns and possess. What will happen when I file chapter 7.


I am getting ready to file chapter 7 and just realized that I am a joint title holder on a vehicle that my father owns. In 2013 my father accrued the loan in his name only and I guess my name never got off the title probably for registration costs. I have not had the car in my... Read more »

Cary Nathan answered on Sep 18, 2018

The vehicle will be an asset of your bankruptcy estate that you must list and then apply to your interest any available exemptions that you may have. Whether or not the trustee pursues liquidation of the vehicle will depend upon the amount of nonexempt equity.

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2 Answers | Asked in Bankruptcy and Real Estate Law for Missouri on

Q: I received my dismissal letter for my Ch. 13 in June. I'm selling my house but the title co says termination in court

Is still needed. Is this true? They are saying I will need to have Federal Court Approval on the sale and I don't understand why.

Cary Nathan answered on Aug 10, 2018

If a dismissal order has been entered, then you would normally be free to sell your property. The title company may simply want to wait until the bankruptcy case is officially closed. If you were represented by an attorney in your bankruptcy, then you should contact that person to make sure there... Read more »

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2 Answers | Asked in Bankruptcy for Missouri on

Q: I am currently going through a debt management program, am I still able to declare bankruptcy

The program itself is working very slowly, but with our two kids who are in elementary school along with a cut in wages from work, make it hard to get by every paycheck. We are currently probably about 40 to 45 thousand in credit card debt and hospital bills. Was wanting to know the likelihood of... Read more »

Cary Nathan answered on Aug 2, 2018

Participation in a debt management program is never a bar, in and of itself, to seeking debt relief in bankruptcy. Whether or not the attorney fees may be paid in installments depends upon the policies of the individual attorney that you hire to represent you. I personally offer payment plans,... Read more »

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