My income is $706.00 for social security a month. I have about $4,000 left from my profit sharing retirement. And that's it. I'm almost 70 years old. I need my car to get to the doctors and just to live. I'm diabetic. My car is my only asset and its not even worth much.
Exemption in bankruptcy are identical to exemptions against creditors as they are the same laws for Missourians. Can not predict how a particlar trustee or creditor atty will act. Look up your vehicle on nada.com for more accurate valuatuon. Then talk to an atty.
Located in Missouri. I have a special needs child, and am being buried in medical debt related to the care of said child. I've talked to a credit counseling agency, and after looking at my income and debts, they determined bankruptcy is my best option.
If your "special needs" child has permanent problems requiring long term or even life long medical treatment, then a bankruptcy is only a temporary band-aid. All medical bills incurred after the date of filing are not included.
Bankruptcy can be a solution, IF, you can find a...Read more »
You can discharge the civil liability. But you cannot stop the state from pursuing criminal prosecution, including ordering restitution. It is at the prosecutor's discretion. Your criminal attorney may be able to negotiate on your behalf. If the Prosecutor thinks these checks are minor and he...Read more »
Your pending contract is called an "executory contract" in that it is not complete. Debtors have the option to assume or reject executory contracts. You should have been listed in the schedule G, along with the debtor's intent. The debtor has a deadline to fullfill his intent. You...Read more »
You, or your attorney needs to file a document "suggestion of bankruptcy" in the court where you are being sued. Provide the court with the case number, chapter number, date of filing, date of discharge. Also attach a copy of the schedule where the creditor appears listed. The creditor...Read more »
You need to make sure you actually did claim your homestead exemption. While you are at it, you may have some head of household and/or miscellaneous exemption that you did not use and can apply also. They are not much, but every dollar counts. You may need to file an amended schedule C....Read more »
I read online: "If you own the house with your spouse as tenants by the entirety and do not have joint debts, the house is completely exempt, and the equity you have in it is irrelevant regarding exemptions."
Yes, you have to be married to use the marital exemption. Since you are not married, you both own the property either as (1) Joint Tenants with rights of survivorship or (2) Tenants in common. Both are treated similarly in bankruptcy. (there are...Read more »
First, your mortgage company will insist on using the funds to maintain the integrity and value of your home. Any excess funds are treated the same as a tax return or bonus check. You need to file a motion to keep some or all of it. Second, your son may qualify for the soldiers and sailors relief...Read more »
The bankruptcy Trustee steps into the shoes of the Debtor. In order to collect a debt owed the Debtor, the Trustee must have the same quality of proof and evidence. There must be evidence that a contract to re-pay money was voluntarily and intentionally created by both parties. Normally, the...Read more »
I filed bankruptcy and one of the debts wasn't discharged (it was for a distance school, no child support, not an accredited college). Why didn't it get discharged? Could a faulty address be to blame? And can I go back and amend that? Please do not put down the fact that I did it. We are... Read more »
If the debt was listed, the address is not the problem. To discharge a student loan, even non-accredited schools, requires filing a separate lawsuit in the bankruptcy court. Otherwise the presumption remains that it is not discharged. The good news is you can still file your adversary even after...Read more »
I filed a chapter 13 bankruptcy in the western district of Missouri. I have completed my plan and my trustee submitted the completion of plan payments with the court and already stopped wage garnishments. I also have already received my discharge of debtor letter from the federal court. I need to... Read more »
For many types of debts and liabilities the statute of limitations is 10 years. Some are even longer. There are some shorter. You need to be more specific. However, Most consumer debts and contracts are 10 years from the date of the last payment.
I have completed my chapter 13 plan payments, received the completion of plan payments letter from the trustee, the trustee filed this with the court and I received the discharge of debtor letter from the federal bankruptcy judge. This was in the western district of Missouri. If I needed to borrow... Read more »
If you already received your discharge and are out of the plan, you can resume borrowing money and getting back into debt like you were before and start the whole mess all over again. 401k loans have to be paid back and cannot be discharged in a bankruptcy. If you default you end up with a tax...Read more »
Depends. Is it rural and does not have a street address? Does the notice give a legal description, a plat number, or something? Does the notice give sufficient information to identify the property in question? You should talk to an attorney about either getting an injunction, or setting aside the...Read more »
Part of the time depends on how quickly the lawfirm moves on the case, how quickly the sheriff can serve your summons, or if they use a private investigator, and the jurisdiction and how quickly they manage their landlord/tenant cases.
Something to consider. If you already have a...Read more »
I just found out about land I didn't know I owned after filing bankruptcy. How risky is it to continue pretending like I don't know about it for a while and then selling it after 6 months - 1 year? (If it matters, the land is worth less than $3000.)
Very risky. Not only can you lose your discharge, you can go to prison. Is the land worth that to you? Land ownership and transfers are public records. It is very easy for the trustee to find out about them.
Normally is should not. But Possibly can. If you both signed a loan together, it will show up on the spouse's credit report that a co-signer filed bankruptcy. Also, if the spouse is applying for a new loan, the lender may question why the other spouse is not participating, or may run both...Read more »
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