Jesse R. Sweeney Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 9, 2024

The answer really goes to intent. Did you plan to file bankruptcy when you purchased the mattress? Had you spoken to counsel prior to purchasing it? Did you make a good faith effort to pay for it? Also the cost of the mattress is important - a $5000 mattress going to cause more issues than one... View More

You should consult with a bankruptcy attorney on this first, but ordinarily, you would need to declare you receive some form of financial assistance or income from him, which is different from the entirety of his social security.

James L. Arrasmith Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jun 1, 2024

When dealing with an annual employment bonus received after filing for Chapter 7 bankruptcy, you might be able to exempt a portion of it using Michigan state exemptions. Since you’re not a government or civil employee, the regular Michigan exemptions apply to your case.

In Michigan, you... View More

When a debt obligation like a credit card is "joint", e.g., where the non-bankrupt "joiner" has signed an issuer document to be liable for the debt balance, yes, that obligation will continue to be reported to the credit bureaus for both of the joint obligors.

Much of your answer is fact-dependent.

E.g., is your mortgage debt current? Who controls the family finances/checkbook? How much credit card debt has been accrued? Is there equity value in the residence above the mortgage balance?

A Chapter 7 bankruptcy is a so-called... View More

T. Augustus Claus Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Oct 12, 2023

In Michigan, marital property is divided equally between the spouses in the event of a divorce. However, this rule can be modified by the court based on a number of factors, including the length of the marriage, the contributions of each spouse, and the needs of the children. In the case you... View More

For starters make sure you can convert. If you own your home the house value may have gone up substantially and a conversion may not be possible. If you can convert, shop around, you can always substitute attorney's and there may be someone who can help you for less than the quoted amount.

A bankruptcy alone does not void a contract. Chapter 11 is a business reorganization. Essentially someone - a trustee - takes over the business, managing its assets and liabilities. Largely, that process does not affect you the consumer.

Think about it: you have likely bought products or... View More

It depends on your home value. If the home is worth 200,000 the combination of the State Exemption $69,200 and the liquidation cost of $20,000 would reduce the required payoff to around $10,000. If the house is worth more, the amount you would have to pay in would be less because the liquidation... View More

The question is, can you protect the equity. It depends on your marital status, the type of debt you have and the amount of equity. For example if you are single, and you use the Federal exemptions you can protect up to 27,900 if you use Federal Exemptions or $46,255 if you use State Exemptions.... View More

Every Reaff Agreement is exactly that, a mutual agreement between a debtor and the creditor, all subject to approval by the Court.

Authorized signatures of both parties is of course required.

Once aa mutually subscribed Reaff Agreement, with Motion and Affidavit is in hand,... View More

If you simply cease to make payments to the Ch. 13 Trustee, that office will file its own motion to convert or dismiss, and you can appear at the resulting hearing and express your wishes, which will probably be granted.

It is more problematic if there is a wage garnishment in place that... View More

The bankruptcy discharge prohibits a creditor from demanding payment of a discharged debt. However, it does not require a prospective lender to lend to you. Therefore, it is illegal for the creditor holding a discharged debt to try to enforce it against you, but legal for a bank to deny you a... View More

Certainly, you should speak to your attorney about filing a motion to reopen the case and obtain permission to file the appropriate documents. He or she should obviously comply with your request. Refiling is also a possibility, but there are factors that might prevent it.

If there is no... View More

It doesn't mean anything if no one objected. Most creditors don't, but the Trustee may do so for the benefit of all creditors. If you have exceeded your exemptions, amending your schedules won't make any difference (it is a question of fact, not just about what you assert on your... View More

The working presumption in a Ch. 13 case is that the debtor will retain and manage his assets, and that is set when a Plan is confirmed (there are provisions to modify a plan after confirmation).

There is also a Bankruptcy Code provision that states that a debtor must first procure court... View More

Not without permission of the court.

One day late for doing what?

Any guaranty is only as good as the future solvency of the guarantor.

Unless the "warranty" you got is provided by a third party, the bankruptcy probably destroys your warranty.

Watch this bankruptcy case. The trustee may be able to sell what's left of the bankrupt... View More

You can refile 8 years after the most recent Chapter 7 filing. You can file a Chapter 13 and 4 years after your most recent Chapter 7 filing. Depending on your circumstances you may want to file the Chapter 13 to stop garnishments etc.