The short answer is "yes." If you were to place the $15,000 in a bank or stock account, it would be included as an asset of bankruptcy. But, paying down your mortgage on your homestead property, you essentially improve your equity in your residence.
had a medical bill of $3,200 back in December 2015. Set up a payment plan as I was unable to pay it in full. Paid 2 payments (on time) and it was never deducted off of the total (never marked as received although the $400 was taken out of my bank account and I have proof) and it ended up going to... Read more »
You must write letters and to the Credit Reporting Agencies (CRA) and dispute the debt. They are required by law to contact the furnisher of the information and investigate you dispute. If it it not corrected, you can bring an action against the furnisher and the CRA's.
The Fair Debt Collection Practices Act expressly prohibits collectors for contacting debtors at work if the collector knows, or has reason to know, that the employer prohibits such communications. Many employers have policies that prohibit employees from taking or making nonemergency calls for...Read more »
If there is a payment by the insurance company, that payment should go first to the finance company and then, on a pro rata basis, to the other creditors. I cannot think of a circumstance where you would receive any of these funds.
The Fair Debt Collection Practices Act "FDCPA" prohibits debt collectors from contacting debtors at inconvenient or unusual places. Some workplaces, by their nature, are inconvenient places for debtors to take collection calls. If it's inconvenient for you to take calls at your job site, let the...Read more »
this lawsuit is over a supposedly defective piece of equipment that no one could ever find any issue with the equipment. customer continued to use to equipment every day, my main question is, my former employer eliminated my job in Feb, 2017 and as well terminated me. i was paid 6 months severance... Read more »
How do I remove a "paid" collection account from my credit reports? I need removed to purchase a home! I have reached out to the credit companies and they refer me back to the company that placed this on my report. I've reached out to Comcast who placed this as "paid" on my credit report and they... Read more »
This situation is covered by the Fair Credit Reporting Act. File a dispute letter with the credit reporting agency. If they don't correct the error, you have the right to sue both the furnisher of the information and the credit reporting agency.
Me and my husband are filing for Chapter 7 bankruptcy due to unforeseen medical and house repairs bills. We've never been late or missed a payment but are struggling to survive and make the payment. Do we continue to make credit card payments until the bankruptcy is finalized or do we stop making... Read more »
If the debt is an unsecured debt, it will be completely discharged in bankruptcy. Therefore, paying before or after you file on a debt that will be discharged in bankruptcy is a waste of money. Good luck.
Our LLC loaned the money to their LLC. They signed a Promissory Note. They agreed to $5,500 with interest from 4/20/15 on the unpaid principal at the rate of 12% per annum. They are a construction contractor so In lui of interest on the first six months they agreed to provide labor to complete... Read more »
As for your options, the only course of action that you have is to sue the LLC on the promissory note. If there are no personal guarantees, your recovery is going to be limited to hopeful collection efforts against the LLC.
There is no "proper way" to settle a judgment. You should negotiate with the debt collector. Tell them about the strong points of your position and the weak points of theirs. Then, make an offer. Let's see if they respond.
I am sorry for your current situation. First, I think that you should contact the lawyer on the other side and inform them of the current inability to attend the pretrial conference. However, court staff is overworked and understaffed so I recommend that someone appear to explain you husband's...Read more »
Unfortunately, there is no a time limit on a debt collector. State laws govern the length of time when you can be sued on a debt, but, a debt collector can still try and collect a debt that has been barred by the statute of limitations.
My husband and I filed chapter 7 bankruptcy last year. It was discharged in November. We did not reaffirm the mortgage, but have continued to pay the monthly payments since the discharge. My question is: Can the mortgage company do anything to us financially, if we just decide to quit paying and... Read more »
The mortgage is comprised of two components: a promissory note and a lien on the property called a mortgage. Your bankruptcy filing discharged the note. That entire debt has been eliminated. However, the lender still has a lien on the property.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.