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 very, very... 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.
What do you mean by "owned"?
Someone cannot secretly transfer real estate...Read more »
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 credit...Read more »
Settlement check was sent to Trustee on his bankruptcy case. The order is clear that that he and I are both parties and that the I am entitled to 1/2 the settlement. The Trustee has refused to give me my portion of this settlement, and has instead submitted it to the Bankruptcy court in an... Read more »
Based on the bare facts you stated, and, if you are not in bankruptcy yourself, then, it does not seem appropriate. You need to seek counsel from an attorney and hire them to file a motion with the bankruptcy court to have a judge decide who is entitled to the money.
If you are refering to having the case closed without a discharge because you failed to do your financial management course or other necessary action; then it depends on how long it take you to comply with the rules and pay the filing fee to reopen the case. Judges normally grant the motion without...Read more »
This is changing my avg mo income by $1,000. They only cover up to $5,250 for grad student tuition per yr, but that is not my normal pay. how will this look to the court? Will they really consider this as part of my regular pay?
There are 3 different places that income goes. The six month period you reference is in the means test. The purpose is to determine whether you can file 7 or 13. It is generally acknowledged by the courts to not always reflect reality.
Your schedule I is more important for that. That is...Read more »
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