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Questions Answered by Peter Maurice Lively
3 Answers | Asked in Bankruptcy for California on
Q: If my mom is on my auto loan as a co-buyer (not co-signer), and I file for chapter 7 bankruptcy, is she protected?
Peter Maurice Lively
Peter Maurice Lively answered on Jan 13, 2020

No. Co-buyer and co-signer are essentially the same - both parties who signed are responsible for the debt. If you file chapter 7, surrender the vehicle and receive a discharge of the debt, then your mom will still be obligated on the debt.

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4 Answers | Asked in Bankruptcy for California on
Q: In what state (NH or CA) should I file for BK for Student Loan discharge

I am in an odd situation in which I live in both NH and CA and could claim residency at both. I would like to file BK for student loan discharge ( 93K) due to economic hardship. ( I support both CA and NH household).

I am worried that if I file in NH , I may not pass the brunner test due... Read more »

Peter Maurice Lively
Peter Maurice Lively answered on Jan 3, 2020

Obtaining a discharge of student loans is likely to be equally difficult in both states. If you consider one state to be your domicile (permanent residence were you always intend to return) and the other to be a temporary residence, then you would presumably file in the state where you maintain... Read more »

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3 Answers | Asked in Bankruptcy for California on
Q: I was not given sufficient notification on a Motion for Relief from Stay in my CH 13 bk. Hearing is days away.Options?

This was clearly a strategic move by the creditor to serve me via mail just prior to the holidays so I would have little to no recourse. I need help filing a motion for extension of time to object, to extend the automatic stay , to find legal assistance and to have someone appear on my behalf at... Read more »

Peter Maurice Lively
Peter Maurice Lively answered on Jan 3, 2020

If you can't get a written response filed prior to the hearing date, then you are best advised to at least appear at the hearing and explain the circumstances to the judge while requesting a continued hearing date with an appropriate deadline for you to file a written response.

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3 Answers | Asked in Bankruptcy for California on
Q: I have less than 20 days to get my car from repo, I read I can go bankrupt and get my car back

I have no transportation

Peter Maurice Lively
Peter Maurice Lively answered on Dec 21, 2019

I have helped clients with this issue through chapter 13 where their overall financial circumstances, not only the repossessed vehicle recovery, justified the administrative costs and supported a feasible plan of reorganization.

Sometimes it is more cost efficient to recover the vehicle...
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2 Answers | Asked in Bankruptcy for California on
Q: Is it possible to still have my corporation as self employed if I file a chapter 7 on the personal side?

I'm a owner operator truck driver and debt has piled up. I'm roughly at $25,000 on credit cards and other obligations has caused me to go under water quite a bit.

I'm 2 years in with my corporation self employed, and both years of tax returns are showing $30k or less after write offs.... Read more »

Peter Maurice Lively
Peter Maurice Lively answered on Nov 25, 2019

Yes, you can keep your Corporation while you go through an individual Chapter 7. My understanding is that you own 100% of the shares of your Corporation. You can apply an exemption to the value of your shares to protect that asset. The value of your shares in your Corporation is calculated from... Read more »

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6 Answers | Asked in Bankruptcy for California on
Q: Can you advise me with a senior bankruptcy issue?

I have outstanding, very high credit card debts it is unlikely I can ever satisfy. Is bankruptcy the answer?

Peter Maurice Lively
Peter Maurice Lively answered on Nov 15, 2019

Bankruptcy is certainly something you should consider, but it might not be your best option.

Consulting with an experienced bankruptcy attorney to review your assets, debts, income, expenses, transfers of property and payments on debts owed to family members, etc.. is a good way to find...
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3 Answers | Asked in Bankruptcy, Criminal Law and Federal Crimes for California on
Q: What non bankruptcy codes can be used for exemptions in ch 13? For example, if the debt arose from a federal crime.

are there any other codes other than 703 and 704 and the federal codes listed?

Peter Maurice Lively
Peter Maurice Lively answered on Nov 4, 2019

Some of the items that may be exempted under Federal laws other than title 11 include:

Foreign Service Retirement and Disability payments, 22 U.S.C. 1104;

Social security payments, 42 U.S.C. 407;

Injury or death compensation payments from war risk hazards, 42 U.S.C....
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4 Answers | Asked in Bankruptcy and Civil Litigation for California on
Q: I have been sued for $1,885.91 from credit card. Its a limited civil case. My last payment was 12/01/2015

It's past 3 years and do i have to go court or do try to call the credit card company?

Peter Maurice Lively
Peter Maurice Lively answered on Oct 21, 2019

The statute of limitations for breach of contract in California is four years. You might be able to resolve the lawsuit by contacting counsel for the credit card company and offering a settlement. You have a limited amount of time to file a written response to the complaint and you need to pay... Read more »

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3 Answers | Asked in Bankruptcy for California on
Q: How can a senior citizen, in San Jose, CA....get free bankruptcy counsceiing?
Peter Maurice Lively
Peter Maurice Lively answered on Aug 28, 2019

If you don't receive any better options, then you could try contacting a local attorney member of the National Association of Consumer Bankruptcy Attorneys, using the find attorney feature at NACBA.org, and ask whether or not that attorney provides pro bono services directly or through association... Read more »

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6 Answers | Asked in Bankruptcy for California on
Q: I have some bad financial problems, I think. I am considering bankruptcy.

I have managed to get about 6 credit accounts back to a good, current status, but have about 7 getting worse everyday. Including two loans. They probably total about $25000 at the moment, and I am making about $700 a week and am not sure I can save everything. My credit has gone down to 500 and... Read more »

Peter Maurice Lively
Peter Maurice Lively answered on Aug 27, 2019

It is impossible to determine whether you are eligible for a chapter 7 discharge and whether that is your best option, based only upon the information that you provided in your question.

If you are married and your spouse is employed, both of your incomes must be used, together with other...
Read more »

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4 Answers | Asked in Bankruptcy for California on
Q: Can my filing Chapter 7 by myself have creditors come after my husband after its done?

I live in California. I rent a room somewhere else while my husband stays in the house we rented. Do to his behavior I decided to leave. We are not legally separated, but don’t currently live in the same county together. My income by myself would get me chapter 7 to remove crushing credit card... Read more »

Peter Maurice Lively
Peter Maurice Lively answered on Aug 9, 2019

Before getting to your two questions, you should be aware that despite not being a cosigner, a cardholder on your account can be liable for that cardholder's purchases and CA community property law defines certain types of debt as belonging to both spouses when they are incurred during marriage.... Read more »

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4 Answers | Asked in Bankruptcy, Gov & Administrative Law, Sexual Harassment and Identity Theft for California on
Q: I have a card debt with $35,000 used with me and my boyfriend. he didn't have a social so I let him use and pay me back

But apparently, he did not. He just keep talking he will pay me back, he will work hard, but nothing paid back. I let him use my credit card for daily life, but he used for sports betting without my consent. He kept promised me he won't do it again but it is still happening and he even do cocaine.... Read more »

Peter Maurice Lively
Peter Maurice Lively answered on Aug 7, 2019

I'm sorry for your circumstances which sound stressful and frustrating, you are certainly not alone.

You could spend a lot of time energy and money obtaining a judgment and trying to collect the judgment from someone without succeeding.

You might be eligible for a bankruptcy...
Read more »

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4 Answers | Asked in Bankruptcy, Banking and Collections for California on
Q: Chap 7. Wife not filing. Joint Citi checking w $5600 on line of credit. It's current. Can Citi offset if stays current?

Since it is a joint debt, can we exclude it from the BK and continue making payments on it?

We want to keep her strong credit completely clean.

Is there any reason to close the joint account?

Peter Maurice Lively
Peter Maurice Lively answered on Jun 17, 2019

Setoff is a contract issue. The answers to your other questions as best given during a telephone consultation regarding all of your facts and circumstances.

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4 Answers | Asked in Bankruptcy for California on
Q: If I’m late on a car title payment in California does the account go through any kind of review process before repossess
Peter Maurice Lively
Peter Maurice Lively answered on May 1, 2019

Your title loan may provide you with a short grace period after the monthly payment due date.

Other than perhaps a courtesy call from the title lender regarding the status of your payment, you should expect your lender to repossess your vehicle as soon as it legally can pursuant to your...
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3 Answers | Asked in Bankruptcy for California on
Q: Is it possible to file an emergency chapter 7 through an attorney to protect my car from repossession.

I am late on a payment with another payment due in mere days and I’m really concerned.

Peter Maurice Lively
Peter Maurice Lively answered on May 1, 2019

It is possible to file an emergency bankruptcy petition and obtain an automatic stay pursuant to Bankruptcy Code Section 362 which is applicable to vehicle lenders and would be violated if repossession subsequently occurred.

However, a Chapter 7 petition alone isn't necessarily going to...
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7 Answers | Asked in Bankruptcy for California on
Q: How low an income do you have to have to file for Chapter 7?
Peter Maurice Lively
Peter Maurice Lively answered on Dec 7, 2018

Whether your income matters at all depends on whether the majority of your debt is consumer or nonconsumer. If the majority of your debt is consumer, then the next step is to determine your household size and the type (W-2 employment, self-employment, Social Security, etc.) and amount of income... Read more »

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4 Answers | Asked in Bankruptcy for California on
Q: Can I put my 30% ownership interest in a condo into an LLC in case I go bankrupt in a couple years so it can’t be taken?

Does an LLC make my ownership interest exempt from being taken by creditors?

Peter Maurice Lively
Peter Maurice Lively answered on Nov 26, 2018

That will not protect the property from being reached by a chapter 7 trustee. If you transfer the property without receiving comparable value and return, you will create a recoverable fraudulent transfer for your bankruptcy estate for up to 10 years depending upon the types of creditors you have... Read more »

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5 Answers | Asked in Bankruptcy and Civil Litigation for California on
Q: I want to file for bankruptcy? Can I get help with the fees since I’m low income? How to get a pro bono service help
Peter Maurice Lively
Peter Maurice Lively answered on Nov 13, 2018

Public Counsel Law Center Los Angeles (213) 385-2977 might be able to help you. Several bankruptcy courts in the Central District of California have self-help desks. Fee waivers and fee payment plans are sometimes available by application to the court at the time you file your petition.

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5 Answers | Asked in Bankruptcy for California on
Q: I am filing Chapter 7 in CA. My wife has a house since before marriage and we have a prenup. Do I need to disclose?

Married for 3 years and we do not live in that house, I rent.

Peter Maurice Lively
Peter Maurice Lively answered on Oct 1, 2018

Yes. Not only must you disclose, but your bankruptcy estate may have an interest in that property depending upon the terms of the prenuptial agreement.

California is a community property state and the marital community can develop an interest in the separate real property of either spouse...
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4 Answers | Asked in Bankruptcy for California on
Q: What are the options and requirements for reinvesting Homestead Exemption funds while in Chapter 7 bankruptcy?

I am in active bankruptcy (not yet discharged) My home was sold to satisfy claims. The Trustee issued me $75K for my Homestead Exemption and said it should be reinvested in a primary residence within 150 days. What are my options (i.e., rent? motorhome? co-invest?)?

Peter Maurice Lively
Peter Maurice Lively answered on Sep 21, 2018

California Code of Civil Procedure Section 704.710 provides the definition of a dwelling and the types of dwellings which may your homestead which include a house, a mobile home, a boat, etc.

If you don't reinvest the homestead funds within the six months deadline, the trustee will be...
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