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Questions Answered by Sally J. Elkington
2 Answers | Asked in Bankruptcy for California on
Q: Am I allowed to sign my house over to my kid if I declare bankruptcy?
Sally J. Elkington
Sally J. Elkington answered on Oct 26, 2017

If you declare a Chapter 13 bankruptcy, your assets must remain in your name, unless you get permission from the Court to transfer the asset. Also, you should not transfer assets prior to filing without speaking to a bankruptcy attorney to ascertain all of the possible consequences

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6 Answers | Asked in Bankruptcy, Personal Injury, Tax Law and Consumer Law for California on
Q: What is the maximum of checking accounts you may have?
Sally J. Elkington
Sally J. Elkington answered on Oct 13, 2017

There is no limit to the number of bank accounts you can have when filing a bankruptcy. Although in your bankruptcy you must list each account on Schedule B,. and state the amount in each account on the date you file the bankruptcy..

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4 Answers | Asked in Bankruptcy for California on
Q: Kept paying mortgage after filing ch 7, now there's ample equity in the home the second lien holder wants to foreclose.

I am current on the first mortgage but did not reaffirm. The institution holding the second wants to foreclose or negotiate their balance ($50,000). The home has around $60,000 in equity. Could the second holder foreclose ? What about the first. I have no contract, am I building equity for the... Read more »

Sally J. Elkington
Sally J. Elkington answered on Oct 9, 2017

You don't have to reaffirm home loans in California. You can always look to the possibility of a modification or settlement if you have the money. The 2nd could foreclose but it is unlikely. Generally 2nds in this position just want some money to go away. A chapter 13 is also available, that... Read more »

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3 Answers | Asked in Bankruptcy for California on
Q: How much is the fee for bankruptcy
Sally J. Elkington
Sally J. Elkington answered on Oct 9, 2017

There is no one answer to this question, as you can see from the previous answers. How much you are charged will depend on whether you are doing a Chapter 7 or Chapter 13 (of Chapter 11, which isn't very likely). Also, it depends on the attorney to whom you are speaking. My advise to you is not... Read more »

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4 Answers | Asked in Bankruptcy for California on
Q: I own a duplex with a friend. We each live in one unit. The mortgage loan and the title list both of us.

He is going to file for bankruptcy..is that going to affect me or the property in any way?

Sally J. Elkington
Sally J. Elkington answered on Jul 17, 2017

The short answer is yes. There are all sorts of considerations that should be clear before he files. First and foremost is he using a reputable attorney. Next is he filing a Chapter 7 or Chapter 13. Another question is do you have equity in the property and if so how much. Also, how do you... Read more »

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2 Answers | Asked in Bankruptcy for California on
Q: My ch.13 bankruptcy was recently converted to a ch.7. I was only given 1 weeks notice from the courts to move.

I have been on disability so this is creating a hardship for me to get out in that time period I also have two tenants that rent rooms and I have to give proper notice to. Suggestions?

Sally J. Elkington
Sally J. Elkington answered on Jun 27, 2017

Are you sure the notice to move was from the Court, or was it from the Trustee. I would recommend you call the trustee and tell them of your situation and ask for more time to move. As for your tenants, the trustee will have to deal with them, not you. Generally the trustees will work with you... Read more »

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1 Answer | Asked in Bankruptcy and Probate for California on
Q: To file or not file if I am Trustee to fathers estate

My husband and I had paid off the BK attorney last year and then he had a heart attack. I have been my Dads caregiver since Mom died (well sister and I) last year. Dad died a few weeks ago and now I feel my personal debts will totally screw over the estate. For me personally any proceeds after... Read more »

Sally J. Elkington
Sally J. Elkington answered on May 22, 2017

This is not the type of question that can be answered with the information provided. You need to find a bankruptcy attorney that you can give the details of your financial situation to, and receive information about all of your options. I am assuming you are concerned about filing bankruptcy... Read more »

4 Answers | Asked in Bankruptcy for California on
Q: I have considerable credit card debt, if I seek charterer 7 will the c.c. company write off those debts?

If one uses chapter 7 to eliminate credit card debt, will the c.c. company go back to the original retailer to dispute charges or will the c.c. co. simply write off the charges?

Sally J. Elkington
Sally J. Elkington answered on May 16, 2017

Generally all of your unsecured credit card debt will be discharged, but there are exceptions. If you went out and charged up the card or cards and then filed bankruptcy, the filing could be challenged by one or all of the cards you charged up. Or if you used a card for anything but household... Read more »

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3 Answers | Asked in Bankruptcy for California on
Q: If I have a loan on a car with my wife and we split up and she files Bankruptcy and I dont what happens?

so If we are co signed on a car and my wife files Bankruptcy and I don't what happens? Say my credit isn't very good will my payments go up and can she get off the loan this way?

Sally J. Elkington
Sally J. Elkington answered on May 16, 2017

In a Chapter 7 - As a non-filing co-debtor on a car, you are left with the legal responsibility for the car, unless your wife reaffirms the debt. Reaffirming a debt is signing a promise to the lender, that she will continue to be legally responsible for the car as well as you.

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2 Answers | Asked in Bankruptcy for California on
Q: what are the steps in transferring to another judge
Sally J. Elkington
Sally J. Elkington answered on May 10, 2017

Because this question is in the bankruptcy practice area I will assume you are talking about a Bankruptcy Judge. A judge can recuse him or herself if they believe there is a conflict with them presiding over the matter, but that does not happen very often. Basically, you cannot "judge shop".... Read more »

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1 Answer | Asked in Bankruptcy for California on
Q: Can I file an amended schedule for homestead exemption from 100 to 175 thousand if I turned 55 a few weeks after filing?

In California. I filed chapter 7 and claimed 100 thousand for the homestead. I filed alone. Me and my wife qualify for the 175 thousand dollar homestead. We made under 35 thousand and I am over 55 years old. The Trustee said I can't claim it because I was not 55 when I filed for Bankruptcy. I was... Read more »

Sally J. Elkington
Sally J. Elkington answered on May 2, 2017

No. It is your age at date of filing.

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