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Questions Answered by Malissa L. Walden
2 Answers | Asked in Bankruptcy for Missouri on
Q: Contemplating bankruptcy questioning whether I would lose my House

Also not really any equity the home if was to sell. Usda done a moratorium to defer payments it is back to where I am making payments but I am a few behind credit report shows loans in forbearance

Malissa L. Walden
Malissa L. Walden
answered on Apr 29, 2022

When you file for bankruptcy any property you own will be classified as exempt property or non-exempt property.

Exempt property is safe during the bankruptcy.

Non-exempt property can be sold for the benefit of your creditors.

Each state is allowed to decide what exemptions...
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2 Answers | Asked in Bankruptcy for South Carolina on
Q: Can a creditor demand return of merchandise which was bought 6 months before filing after the bankruptcy is discharged?

I bought a mattress in October of 2020 from a furniture store, and financed it. I filed Chapter 7 bankruptcy approximately 6 months later, and it was discharged in April 2021. Now the creditor is demanding the merchandise back or they will take court action. I thought I was done after the... Read more »

Malissa L. Walden
Malissa L. Walden
answered on May 11, 2021

Look to see if this creditor was a secured creditor and had a security interest in the property OR if you had a lease agreement with them. Either way you should have stated your intention regarding the debt and asset. You may be liable under a lease agreement post-bankruptcy if you assumed its... Read more »

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3 Answers | Asked in Bankruptcy, Contracts and Banking for Kentucky on
Q: Son totalled his truck, insurance expired, owes 26K to bank. Junk yard won't take vehicle. Bankruptcy solve problem?
Malissa L. Walden
Malissa L. Walden
answered on May 7, 2021

Many bankruptcy attorneys offer free consultations. He should speak with one to verify that this is his best option and cover all issues he is facing. (If there are any issues with injury, intoxication, fines, etc.)

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