chapter 7 bankruptcy
Yes, any pending claims will likely be classified as property of your estate. During the bankruptcy, the trustee will take legal title to your property, so it is important that you list and identify everything, even if you aren't sure.
For now, the important thing is to be honest... Read more »
This likely depends on how much money you are attempting to withdraw. While normal living expenses may be okay, larger amounts may be subject to the estate, causing the trustee to reclaim the money from the person or entity you gave it to. Regardless of the amounts, be prepared to explain... Read more »
When filing bankruptcy, you must list all of your obligations. You must also inform the court of any possible rights you have in property.
However, this doesn't automatically mean the property will be taken away from you, or that you'll be forced to pay every debt you list on... Read more »
I recently asked a question. I am looking to update my forms and submit a reaffirmation agreement for my vehicle as I do not want to lose it. While the reaffirmation agreement is being processed in the proceedings do I continue to make payments as I normally would. I would like to know as I am... Read more »
If you want to keep the vehicle, and the trustee does not object, then you may be able to reaffirm the loan in your bankruptcy.
However, keep in mind that the payment normally needs to be current throughout the life of the loan. While repossession rarely occurs during the automatic stay,... Read more »
I live with my BF in his paid off home and his income is SSD. I pay all the expenses in the house including food, utility and home insurance. question, is my BF income need to be included with my income in chapter 7? All the debits are mine and under my name . He is not filling for bankruptcy... Read more »
Generally, Social Security benefits--of any type--may not be counted as income on your bankruptcy petition. Your attorney should discuss the Means Test with you (also known as Form 22A - Statement of Current Monthly Income/Means Test in a Chapter 7 and Form 22C - Current Monthly Income/Disposable... Read more »
THE SETTLEMENT IS FROM ROUND UP DUE TO GETTING LYMPHOMA....
Based on the facts provided, t depends on when the injury occurred. Any potential claims you have up until the day of filing are normally part of your bankruptcy estate. Because your discharge was so recent, any such claims should have been listed on your bankruptcy petition.
You should... Read more »
I had creditors meeting but i did not file form 423.
Hello,
I'm sorry about the trouble you're experiencing in your chapter 7 bankruptcy. Generally, bankruptcy trustees have broad powers to liquidate estate property unless an exemption applies. Depending on your circumstances, this might apply to your jointly owned home.
I... Read more »
get my half if she passes
Tenancy in Common is the default method by which joint title is taken, so unless ownership is held under a joint tenancy, or a tenancy by the entirety, you and your mother will hold the property as tenants in common. If you own the property as tenants in common, then you do not have an automatic... Read more »
The house is in both of our names. Im wondering how much power medicaid could have over my house
Florida law protects your homestead from most creditors. If the home is properly listed as your homestead, then usually the only creditors who can attach a lien are: contractors you've hired to work on the home; government agencies tasked to collect property taxes; and lenders who provided... Read more »
My father recently passed away. (August 24th 2020). My sister and i were supposed to inherit his life policy. Now all of a sudden, a different beneficiary on a document recently magically found, determines that we do not inherit that as he intended. When i asked for my fathers attorney information,... Read more »
I'm very sorry for your recent loss. Although this is likely a tough time, please be mindful that your window of opportunity to contest a will is not unlimited. Each state has their own laws regarding probate, and because you mentioned your father doesn't live in Florida, I highly... Read more »
My parents are still married but have been separated (not legally, sold their home previously and now live in different counties and own their own homes) but have will's in place from many years ago. My father does not want his estate going to my mother upon his death and wants it distributed... Read more »
Based on what you've provided here, the wills are likely still in effect. Your father should probably consult an attorney and execute a new will or establish a trust as quickly as possible. This will ensure his wishes are carried out as intended.
A will may be partially or... Read more »
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