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.
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 »
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 »
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 »
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.
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...Read more »
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 »
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...Read more »
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 »
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 »
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 »
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 »
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 »
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 »
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...Read more »
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...Read more »
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 »
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 »
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.
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?)?
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