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Missouri Bankruptcy Questions & Answers
2 Answers | Asked in Bankruptcy for Missouri on
Q: In bankruptcy on schedules b106a/b when they ask about real estate property. How do I answer the current valve of the

portion I own? If I am paying a mortgage on the house and owe 67k on the home, but it's worth 85k would I put the property percent as roughly 15% because I owe the bank still the 67k or would I make it 100%

James L. Arrasmith
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answered on Nov 5, 2023

On Schedule A/B, you should list the full current value of the property, which in your case would be the $85,000 market value. The percentage of ownership you are referring to is not the percentage you own versus the bank's interest, but rather your actual ownership percentage if the property... View More

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1 Answer | Asked in Bankruptcy for Missouri on
Q: How do I figure out the fair market value on a real estate property that is owned?

Also am I able to deduct from the fair market value of the property with things that are wrong with the home? I have been told we can only have 15k in equity 30k if filing together. We owe 68k on the home but online it says fmv is 155k in 2023 or 116k in 2022. I personally don't think... View More

Timothy Denison
Timothy Denison
answered on Oct 4, 2023

You probably should have it appraised and work backward from that number, especially if you’re convinced it’s not worth that much.

1 Answer | Asked in Bankruptcy for Missouri on
Q: If I am in the process of receiving section 8 housing. I have already been approved, etc.

I am currently looking for a house to rent, would I include that on my chapter 7 bankruptcy since it hasn't been received yet, just approved and am still looking for somewhere to rent. If I do would I include it in Schedule I: Your Income, line 8f? The other governmental assistance line?... View More

Timothy Denison
Timothy Denison
answered on Sep 28, 2023

Yes. You should list both in your petition.

1 Answer | Asked in Bankruptcy for Missouri on
Q: When filing for a chapter 7 bankruptcy do I need to include all vehicles that are in my name even if its not my vehicle?

When filing chapter 7 bankruptcy in Missouri must I include all vehicles that are in my name, regardless if they are not mine nor in my possession? I am asking because I bought a few auction vehicles for relatives, they paid for them. I am worried that if I do they could be taken away from them... View More

John Spalding
John Spalding
answered on Oct 2, 2023

Hi there, as to the first question, the answer applies universally (i.e. regardless of jurisdiction). Yes, you need to disclose all assets in your name. This includes vehicles that you're letting others borrow/drive/possess. Additionally, if you intend to file a bankruptcy petition, you... View More

2 Answers | Asked in Bankruptcy for Missouri on
Q: what do you need to file a bankruptcy case in federal court?

I have an attorney who has been working on this since July of 2022. As of yesterday she is telling me that she is waiting on the court to give her a hearing date.

James L. Arrasmith
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answered on Sep 8, 2023

To initiate a bankruptcy case in federal court, your attorney must prepare and file a bankruptcy petition along with various supporting documents, which generally include schedules of your assets, liabilities, income, and expenditures, a statement of your financial affairs, and in the case of... View More

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2 Answers | Asked in Bankruptcy and Business Law for Missouri on
Q: What happens when you declare bankruptcy for your business? Will they come after personal assets?
W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Aug 4, 2023

If your business is a sole proprietorship, then yes, when you file for bankruptcy relief, all assets and liabilities of both you and your business are submitted to the bankruptcy court and subject to the claims of creditors.

If your business is in corporate form, and you've been...
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2 Answers | Asked in Bankruptcy, Contracts and Civil Litigation for Missouri on
Q: In 2019 I hired and paid a bankruptcy attorney to file chapter 7. Recently learned it was never filed.

A collector tried to have me served for civil court but had an old address in the wrong county. That case has been canceled but they now have my correct address. When I originally hired the attorney there was no equity in my home. Since then the market has changed and there's to much equity... View More

Ronald J. Eisenberg
Ronald J. Eisenberg
answered on Apr 27, 2023

You should confer with an attorney about pursuing a lawsuit against the bankruptcy attorney. If what you state is accurate, and I have no reason to doubt it, his failure to file the bankruptcy case caused you damage. Plus, he took your money.

Unfortunately, his failure to file is not a...
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1 Answer | Asked in Bankruptcy and Tax Law for Missouri on
Q: In Missouri- my chapter 13 plan states that if I file jointly the debtor may retain 1500. Is that of the total refund?

2nd year filing taxes with chapter 13, but 1year married. Jointly my tax return will be $3063. My plan states that if I file jointly debtor may retain $1500- is that from the total $3063 or do they take in account some of the refund is my husband's? I have seen it separately and my husband’s... View More

Timothy Denison
Timothy Denison
answered on Apr 9, 2023

File separately.

2 Answers | Asked in Bankruptcy for Missouri on
Q: Hey! I was wondering if I needed to include past food stamps I received in my bankruptcy even if I no longer receive?
W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Nov 27, 2022

In a word, yes. For both Schedule I and the "means test" reflected in Official form B-122, your annualized income from all sources includes food stamps (note that the means test reaches back six months from the date of filing of the bankruptcy).

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1 Answer | Asked in Bankruptcy for Missouri on
Q: I was vested in beloit corp pension before there bankruptcy. How do I find who took over the pension now

I'm close to my retirement age. I have not received any information on this sense they went bankrupt

Timothy Denison
Timothy Denison
answered on Sep 11, 2022

Contact the bankruptcy trustee. They may be able to tell you the name of the current plan admin and the status of it.

1 Answer | Asked in Bankruptcy and Real Estate Law for Missouri on
Q: I am buying house from private party due to health reasons have to file bankruptcy can home owner refuse to honor origin

al contract.

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Aug 22, 2022

You don't give enough facts to allow good advice.

If your purchase contract is in writing, and is a longer term installment contract, you should be able to affirm it as an "executory contract" once you file for bankruptcy relief, and that's even more so if you are...
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1 Answer | Asked in Bankruptcy for Missouri on
Q: Can a chapter 13 plan be extended longer than 5 years?

I have been paying for 58 months on a ch. 13 plan. My lawyer just emailed and said I owe $7500 more dollars. I pay $750 a month. They asked if I wanted to pay a lump sum or try to extend my payments for 6 months Nothing has changed since I filed and I made every payment. Is this common?

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Jun 14, 2022

I looked into this for a client last fall, and the cases seem pretty clearly to say that the five-year period for a Ch. 13 confirmed plan cannot be extended beyond five years.

It may be that some creditor(s) have filed proofs of claim enlarging the amount you must pay to be current on,...
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1 Answer | Asked in Bankruptcy for Missouri on
Q: What can I do as a person currently in a chapter 13 and ATT has drafted a payment on a closed payment method?
Timothy Denison
Timothy Denison
answered on Jun 16, 2022

Move to hold them in contempt for violating the bankruptcy stay.

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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1 Answer | Asked in Bankruptcy for Missouri on
Q: I have POA for my Father. He cosigned a loan for me several years ago and I have to file chapter 7, will he be liable??

He resides with me and when he cosigned my loan, he was in good health and I did not have POA then.

Timothy Denison
Timothy Denison
answered on Mar 23, 2022

Yes. He is still liable.

1 Answer | Asked in Bankruptcy for Missouri on
Q: I filed bankruptcy but messed up the income dependent and expenses part I am so confused on what forms I need to amend

Some income goes on other forms so I don't know where to start

Timothy Denison
Timothy Denison
answered on Dec 6, 2021

It’s impossible to give advice on this matter without seeing the actual income information. I highly recommend you hire a bankruptcy lawyer to help you amend and file correctly.

2 Answers | Asked in Appeals / Appellate Law, Bankruptcy and Constitutional Law for Missouri on
Q: Format for notifying US AG, US Senate, House Committees on Bankruptcy of challenge to constitutionality of Code ?

Can an Article I judge deprive the US Court of Appeals of subject matter jurisdiction ?

Timothy Denison
Timothy Denison
answered on Sep 14, 2021

No.

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3 Answers | Asked in Bankruptcy, Collections and Small Claims for Missouri on
Q: Can a small claims garnishment put a levy on all bank account of a head of household with three small children

Leaving them with no access to any funds and never attempted to go through current employer first for garnishment. Nor accepting a payment plan that was suggested but turned away by plaintiff refusing money unless it was what he set forth reasonable.

Timothy Denison
Timothy Denison
answered on Aug 21, 2021

Yes.

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2 Answers | Asked in Bankruptcy for Missouri on
Q: Chp 13 trustee paying child health insurance but not child support to custodial parent. Debtor's court ordered to pay

MO child support court ordered debtor to pay both monthly support to custodial and debtor to pay monthly health insurance. Trustee paying just health.

David Reese Fondren
David Reese Fondren
answered on Jul 15, 2021

You need to review your own plan that you submitted to the court and make sure that the payment is in there. Talk with your attorney if you cannot find it. Do this IMMEDIATELY, as the payments are going to other creditors. The trustee has no way of knowing your intent if not in writing. If it is... View More

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2 Answers | Asked in Bankruptcy for Missouri on
Q: Can I make an offer to settle and stop a garnishment? I have a judgement & garnishment against me for an auto.

Also, would this prevent having to file bankruptcy?

Lloyd  Nolan
Lloyd Nolan
answered on Mar 26, 2021

You can certainly make an offer or lump sum payment to stop a garnishment, assuming the creditor will agree. This will not keep you from filing bankruptcy, however a large payment to a creditor within 90 days of the date you file bankruptcy would be deemed a preference, or a preferential payment,... View More

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