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Bankruptcy Questions & Answers
Q: Can I prevent my husband from filing for bankruptcy? Does he need my permission in order to do so?
Stuart Nachbar's answer
No you can not technically prevent him from doing it. Although he is required to include your income for the last six months and prove.same via paystubs.
No you can not technically prevent him from doing it. Although he is required to include your income for the last six months and prove.same via paystubs.
Q: what to do when debt collectors take money out of a joint account in search of person A but only person B's $ is in it?
2 Answers
| Asked
in
Bankruptcy, Banking, Civil Litigation and Collections
for
New York
on
Answered on Aug 16, 2017
Answered on Aug 16, 2017
Leonard R. Boyer's answer
Your Dad, if eligible needs to file Bankruptcy, otherwise, you probably won't be able to get it back. To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation with an experienced bankruptcy attorney.
Your Dad, if eligible needs to file Bankruptcy, otherwise, you probably won't be able to get it back. To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation with an experienced bankruptcy attorney.
Q: Hi, my ex and I divorced after 29 years of marriage November 2016. Simple divorce. Alimony was not done official with
Mr Eric Klein's answer
Based on the information you provided, unfortunately, you cannot go back to court as you filed for and obtained a Simplified Divorce. One of the requirements of a simplified divorce, is that you both forever waive your rights to alimony from the other.
Based on the information you provided, unfortunately, you cannot go back to court as you filed for and obtained a Simplified Divorce. One of the requirements of a simplified divorce, is that you both forever waive your rights to alimony from the other.
Q: Leased car and bankruptcy. We co-signed a lease with our daughter in August of 2016. She is the primary payer.
Michael David Siegel's answer
Once the car is repoed, you cannot just start making payments. Chase is right. She is punished for your bankruptcy as she is the only obligor left on the loan.
Once the car is repoed, you cannot just start making payments. Chase is right. She is punished for your bankruptcy as she is the only obligor left on the loan.
Q: Our Ch. 7 Bankruptcy has been discharged. The motion for foreclosure has been filed and
David Earl Phillips' answer
Yes. You do not have to wait on the sale. You should notify the attorney doing the foreclosure and the sheriff office that you are vacating the property. Also, turn off the power and water. If you had a bankruptcy lawyer, tell them that you are moving out. Good luck!
Yes. You do not have to wait on the sale. You should notify the attorney doing the foreclosure and the sheriff office that you are vacating the property. Also, turn off the power and water. If you had a bankruptcy lawyer, tell them that you are moving out. Good luck!
Q: Will I lose all of my property if I file for Chapter 7? What can I protect/keep?
Shari Lynn Vannieuwenhoven's answer
The federal bankruptcy laws provide for exemptions. Certain property and equity in property can be protected. You should consult with an experienced local bankruptcy attorney to discuss this. You need to disclose all of your assets, debts and income. Good luck.
The federal bankruptcy laws provide for exemptions. Certain property and equity in property can be protected. You should consult with an experienced local bankruptcy attorney to discuss this. You need to disclose all of your assets, debts and income. Good luck.
Q: Can an HOA sue for dues on a time share property that was foreclosed upon 9 years ago through a chapter 7 bankruptcy?
2 Answers
| Asked
in
Bankruptcy, Contracts, Foreclosure and Real Estate Law
for
California
on
Answered on Aug 14, 2017
Answered on Aug 14, 2017
Harlene Miller's answer
As a bankruptcy attorney, I can address one issue: So long as your husband remained on title, he was responsible for paying the HOA fees even after the conclusion of this bankruptcy case. If a foreclosure actually took place, but new title was never recorded, he would have remained as the title owner and still responsible for the HOA fees. Or it is possible that a foreclosure sale never actually occurred. I suggest you seek further advice from a real estate attorney.
As a bankruptcy attorney, I can address one issue: So long as your husband remained on title, he was responsible for paying the HOA fees even after the conclusion of this bankruptcy case. If a foreclosure actually took place, but new title was never recorded, he would have remained as the title owner and still responsible for the HOA fees. Or it is possible that a foreclosure sale never actually occurred. I suggest you seek further advice from a real estate attorney.
Q: have 65k in CC debt, have 112k in reverse mort debt. wife and I live on 54k yearly. Home is valued at 400k.options?
Timothy Canty's answer
The Colorado homestead exemption is $75,000, or if you are over 60 years old or disabled, $105,000. You must have a been a Colorado resident for at least 2 years in order to use Colorado exemptions. Any equity over those amounts must be turned over to the trustee to pay creditors. This will usually mean selling the home unless you you can find an alternate means of paying the trustee. You could avoid this result by filing a Chapter 13 and paying the excess over 5 years. This is just a general...
The Colorado homestead exemption is $75,000, or if you are over 60 years old or disabled, $105,000. You must have a been a Colorado resident for at least 2 years in order to use Colorado exemptions. Any equity over those amounts must be turned over to the trustee to pay creditors. This will usually mean selling the home unless you you can find an alternate means of paying the trustee. You could avoid this result by filing a Chapter 13 and paying the excess over 5 years. This is just a general...
Q: Should I get an affirmation of my new 2017 hyundai elantra loan
Kevin M Ryan's answer
The automobile must be listed on Schedule A/B, and then the debt for the automobile ( if any) should be listed on Schedule D. You must make sure to claim any available exemption for vehicle equity ( FMV minus Loan principal balance) on Schedule C. You also must indicate on the Statement of Intention whether you want to reaffirm the auto loan or surrender the vehicle. You should consult with a bankruptcy attorney who can tell you the best way to approach any of these situations so that you...
The automobile must be listed on Schedule A/B, and then the debt for the automobile ( if any) should be listed on Schedule D. You must make sure to claim any available exemption for vehicle equity ( FMV minus Loan principal balance) on Schedule C. You also must indicate on the Statement of Intention whether you want to reaffirm the auto loan or surrender the vehicle. You should consult with a bankruptcy attorney who can tell you the best way to approach any of these situations so that you...
Q: WHat are customary charges by lenders for arrears claim reporting in a ch13 ?
Ray Choudhry's answer
In general, the amount to be paid on the arrearage through the plan would be the amount it would take to become current on the loan.
In general, the amount to be paid on the arrearage through the plan would be the amount it would take to become current on the loan.
Q: and how would the debtor be able to get the funds ? report it to the trustee ?
Max Lavit Rosenberg's answer
I am not sure which funds you refer to. What would you report to the trustee? More details are needed to answer this question.
I am not sure which funds you refer to. What would you report to the trustee? More details are needed to answer this question.
Q: Halfway thru a Chapter 13 (100%). House not included but I want to surrender it now. Will I have to pay a deficiency?
Stuart Nachbar's answer
You should have the schedules and plan amended then possibly you will be protected against the deficiency Judgment
You should have the schedules and plan amended then possibly you will be protected against the deficiency Judgment
Q: i have enrolled in national debt relief almost 4 months ago did i make a mistake
David Earl Phillips' answer
Sometimes programs like that help. Might be best to see a lawyer to review your situation and see what your best option is.
Most attorneys offer a free consultation so it would not hurt to get an opinion as to whether if the debt consolidation is the way to go. Hope it works out. Good luck!
Sometimes programs like that help. Might be best to see a lawyer to review your situation and see what your best option is.
Most attorneys offer a free consultation so it would not hurt to get an opinion as to whether if the debt consolidation is the way to go. Hope it works out. Good luck!
Q: I have debt from before I was marrried. Can I file bankruptcy alone? And will it mess up my husbands credit
Michael Gerity's answer
Any spouse is free to file a separate bankruptcy. However, keep in mind that your spouse's income will be included in the calculation as to whether or not you are eligible to file a Chapter 7 (vs. a Chapter 13) bankruptcy. That may end up disqualifying you from a Chapter 7, which is generally, but not always, the type of bankruptcy that individuals prefer to file. However, it would appear that the listed income of $29,000 would not be an issue.
As for his credit, in general, an...
Any spouse is free to file a separate bankruptcy. However, keep in mind that your spouse's income will be included in the calculation as to whether or not you are eligible to file a Chapter 7 (vs. a Chapter 13) bankruptcy. That may end up disqualifying you from a Chapter 7, which is generally, but not always, the type of bankruptcy that individuals prefer to file. However, it would appear that the listed income of $29,000 would not be an issue.
As for his credit, in general, an...
Q: For the liquidation analysis for ch13, why do some bk attnys apply a fudge factor-10%-& some itemize the sales costs?
Ray Choudhry's answer
Different Chap 13 Trustees have different ways of looking at things.
How about you just plain ask the trustee's lawyer that is if you don't have one of your own.
Different Chap 13 Trustees have different ways of looking at things.
How about you just plain ask the trustee's lawyer that is if you don't have one of your own.
Q: How long does a Chapter 7 case last?
David Earl Phillips' answer
If there are no assets for the trustee to administer a chapter 7 usually takes about 4 months. Talk with a lawyer near you to see if bankruptcy is a good option in your situation. Hope it works out. Good luck!
If there are no assets for the trustee to administer a chapter 7 usually takes about 4 months. Talk with a lawyer near you to see if bankruptcy is a good option in your situation. Hope it works out. Good luck!
Q: Under what conditions should a husband and wife both file under Chapter 7?
David Earl Phillips' answer
Generally, if you have a large amount of joint debt or individual debt it will be to your advantage to file together. Saves cost and fees to file together also. Have a lawyer look at your situation and see if bankruptcy will be a good option. Hope it works out. Good luck!
Generally, if you have a large amount of joint debt or individual debt it will be to your advantage to file together. Saves cost and fees to file together also. Have a lawyer look at your situation and see if bankruptcy will be a good option. Hope it works out. Good luck!
Q: Can our attorney file a motion for discharge while keeping the chapter 13 case open to receive an inheritance?
Terrence H Thorgaard's answer
If your attorney in fact said that "she doesn't know what to write to the court as this has never happened to her", I guess you do need another attorney. Each case is different and something never having happened to an attorney is not an excuse; an attorney should be able to figure it out.
If your attorney in fact said that "she doesn't know what to write to the court as this has never happened to her", I guess you do need another attorney. Each case is different and something never having happened to an attorney is not an excuse; an attorney should be able to figure it out.
Q: I was in an accident in '16 w/a girl who hit a tree. I lost my leg. 25000.00 settlement that ends in 16507 left.
1 Answer
| Asked
in
Bankruptcy, Personal Injury, Car Accidents and Health Care Law
for
Alabama
on
Answered on Aug 8, 2017
Answered on Aug 8, 2017
Peter Munsing's answer
You didn't ask but I assume you got on social security disability for at least the period after the crash through the year after your amputation. You might see if your lawyer can bring a crashworthiness case. However, with bankruptcy you don't have enough to go 'round so I doubt if it will get you money, but it is definitely a good thing for you to do.
You didn't ask but I assume you got on social security disability for at least the period after the crash through the year after your amputation. You might see if your lawyer can bring a crashworthiness case. However, with bankruptcy you don't have enough to go 'round so I doubt if it will get you money, but it is definitely a good thing for you to do.
Q: I have $100,000 in private student loans. I do not recall taking out these loans-I was on medication. Is there help?
Michael Gerity's answer
As you may have heard, most student loans are very difficult to get discharged in a bankruptcy. You have to show "undue hardship" in order to get them discharged, and that has proven to be an extremely high standard to meet. This applies to most student loans, including ones from a private lender. With that said, there are exceptions, particularly with private loans, but the devil is in the details--whether or not a private student loan might be dischargeable is a very complex issue that...
As you may have heard, most student loans are very difficult to get discharged in a bankruptcy. You have to show "undue hardship" in order to get them discharged, and that has proven to be an extremely high standard to meet. This applies to most student loans, including ones from a private lender. With that said, there are exceptions, particularly with private loans, but the devil is in the details--whether or not a private student loan might be dischargeable is a very complex issue that...
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