Bankruptcy Questions & Answers by State
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Bankruptcy Questions & Answers
Q: What is the direct impact of a bankruptcy on your crefit report
Timothy Denison's answer
Your credit score will be drastically reduced and credit will cost you more than someone with good credit. However, many lenders will be happy to lend you money upon conclusion of your bankruptcy bc they know you can’t file again for eight years. It also provides you with a relatively easy avenue to rebuild your credit.
Your credit score will be drastically reduced and credit will cost you more than someone with good credit. However, many lenders will be happy to lend you money upon conclusion of your bankruptcy bc they know you can’t file again for eight years. It also provides you with a relatively easy avenue to rebuild your credit.
Q: Can estate property that has not been inherited be taken under Chapter13?
Timothy Denison's answer
Depends on your ownership interest in the property and the equity in it. You need to speak with a competent bankruptcy lawyer who can assess your complete financial situation before you do anything.
Depends on your ownership interest in the property and the equity in it. You need to speak with a competent bankruptcy lawyer who can assess your complete financial situation before you do anything.
Q: filing for car I have, it dont run. I want to get rid of car, bank gave me release of lien paper. Can I sell it?
Kevin M Rogers' answer
Get rid of the car. The title now belongs to the lending company. List the original lender, the seller of the car and the company that all previous liens were consolidated with and BE FREE of this lousy car!
Get rid of the car. The title now belongs to the lending company. List the original lender, the seller of the car and the company that all previous liens were consolidated with and BE FREE of this lousy car!
Q: Hi, My passporst were stolen in aruba 2015 and I got wired or tapped with my instagram. What can I do in Legal terms?
1 Answer
| Asked
in
Bankruptcy, Criminal Law, Immigration Law and Personal Injury
on
Answered on Apr 19, 2019
Answered on Apr 19, 2019
Q: What happens to my home equity in a chapter 13?
Timothy Denison's answer
Way too many questions to answer in a text bc there are so many variables to consider, but the short answer is yes, a Chapter 7 or 13 could help you resolve these issues permanently and likely help you keep your home. You need to consult with an experienced bankruptcy attorney who can analyze your complete financial situation and decide which route is best for you.
Way too many questions to answer in a text bc there are so many variables to consider, but the short answer is yes, a Chapter 7 or 13 could help you resolve these issues permanently and likely help you keep your home. You need to consult with an experienced bankruptcy attorney who can analyze your complete financial situation and decide which route is best for you.
Q: Hello my Mom and I had a bank account together she passed away 7 months ago how long do I have for probate
Timothy Denison's answer
You can likely probate at any time but generally the estate has to remain open for 6 months.
You can likely probate at any time but generally the estate has to remain open for 6 months.
Q: I'm looking for legal advice regarding my LLC, that is not generating any income anymore, and I am about to close it.
Karra Kingston's answer
Hello,
You could file a business chapter 7 bankruptcy but sometimes it doesn’t make sense are you sure your not personally liable for any of your business debt. I would definiteltnspeak with a lawyer
Hello,
You could file a business chapter 7 bankruptcy but sometimes it doesn’t make sense are you sure your not personally liable for any of your business debt. I would definiteltnspeak with a lawyer
Q: I filed chapter 13 in 2012. it was converted to chapter 7 in 2014. I have financial issues again and am exploring option
W. J. Winterstein Jr.'s answer
Interesting question.
Section 727 of the Bankruptcy Code provides--
(a) The court shall grant the debtor a discharge, unless--
(8) the debtor has been granted a discharge under this section, under section 1141 of this title, or under section 14, 371, or 476 of the Bankruptcy Act, in a case commenced within 8 years before the date of the filing of the petition;
(9) the debtor has been granted a discharge under section 1228 or 1328 of this title, or under...
Interesting question.
Section 727 of the Bankruptcy Code provides--
(a) The court shall grant the debtor a discharge, unless--
(8) the debtor has been granted a discharge under this section, under section 1141 of this title, or under section 14, 371, or 476 of the Bankruptcy Act, in a case commenced within 8 years before the date of the filing of the petition;
(9) the debtor has been granted a discharge under section 1228 or 1328 of this title, or under...
Q: How do I file an amendment to my bankruptcy schedules? I added a creditor that no longer needs to be on there
Timothy Denison's answer
You file an amendment pleading in the bankruptcy identifying the creditor and indicating they have been paid snd no longer need to be listed
You file an amendment pleading in the bankruptcy identifying the creditor and indicating they have been paid snd no longer need to be listed
Q: What should i do or what is recommended?
Anthony Marvin Avery's answer
You must continue to make payments or the Lender will get relief from the Stay and repossess the collateral. Find out what type of payments your Sister's Plan proposes, and this will determine what you pay each month after the Plan is confirmed. But until the Plan is confirmed, no payments by the Trustee will be made.
You must continue to make payments or the Lender will get relief from the Stay and repossess the collateral. Find out what type of payments your Sister's Plan proposes, and this will determine what you pay each month after the Plan is confirmed. But until the Plan is confirmed, no payments by the Trustee will be made.
Q: can I be a tag agent if I have filed bankruptcy?
2 Answers
| Asked
in
Bankruptcy, Business Law and Contracts
for
Oklahoma
on
Answered on Apr 15, 2019
Answered on Apr 15, 2019
Kyle Persaud's answer
I don't see anything that says you can't.
To see the requirements for being a motor license agent, click on these two websites:
https://www.oscn.net/applications/oscn/deliverdocument.asp?id=440203&hits=1365+1364+1363+1352+1351+1350+1296+1295+1294+1117+1116+1115+1113+1112+1111+1065+1064+1063+1030+1029+1028+999+998+997+882+881+880+798+797+796+602+601+600+486+485+484+481+480+479+439+438+437+396+395+394+195+194+193+29+28+27+...
I don't see anything that says you can't.
To see the requirements for being a motor license agent, click on these two websites:
https://www.oscn.net/applications/oscn/deliverdocument.asp?id=440203&hits=1365+1364+1363+1352+1351+1350+1296+1295+1294+1117+1116+1115+1113+1112+1111+1065+1064+1063+1030+1029+1028+999+998+997+882+881+880+798+797+796+602+601+600+486+485+484+481+480+479+439+438+437+396+395+394+195+194+193+29+28+27+...
Q: Hello, I have a chapter 13 case and I fell behind in my mortgage payments so I received a motion to lift the stay
Kevin M Rogers' answer
You will be fine. THAT’S what Chapter 13 is for. It would be a different matter if the Mortgagee could prove that your house had NO equity. Because it is the equity in your house that the court will find is necessary for your rehabilitation.
Your lawyer will amend your Plan, adding a new, secured creditor - the same Mortgagee except the amount he will be owed is EXACTLY the amount, including interest of the arrears. You will pay this through the Plan, through the Trustee and it will...
You will be fine. THAT’S what Chapter 13 is for. It would be a different matter if the Mortgagee could prove that your house had NO equity. Because it is the equity in your house that the court will find is necessary for your rehabilitation.
Your lawyer will amend your Plan, adding a new, secured creditor - the same Mortgagee except the amount he will be owed is EXACTLY the amount, including interest of the arrears. You will pay this through the Plan, through the Trustee and it will...
Q: Being sued by previous car lender, with issues.
1 Answer
| Asked
in
Bankruptcy, Consumer Law, Collections and Probate
for
Tennessee
on
Answered on Apr 15, 2019
Answered on Apr 15, 2019
Anthony Marvin Avery's answer
The Creditor probably can Probate Grandmother's Estate for its benefit. But it is very unlikely. You are probably better off filing a Notice of Exempt Property with whatever Court and Docket Number you are being sued under. You should be able to Exempt all property, but be careful with any Bank Accounts.
The Creditor probably can Probate Grandmother's Estate for its benefit. But it is very unlikely. You are probably better off filing a Notice of Exempt Property with whatever Court and Docket Number you are being sued under. You should be able to Exempt all property, but be careful with any Bank Accounts.
Q: is social security counted as disposible income in a chapter 13 bankruptcy
Trent Harris' answer
For purposes of the Chapter 7 means test, Social Security benefits are not income. But for purposes of Chapter 13 disposable income, yes, Social Security benefits are counted as income from which your allowable expenses are subtracted to arrive at disposable income in Michigan. In some other jurisdictions (other than Michigan), the answer would be different.
As always, you get what you pay for. Be sure to talk to a qualified attorney about your specific situation before choosing to...
For purposes of the Chapter 7 means test, Social Security benefits are not income. But for purposes of Chapter 13 disposable income, yes, Social Security benefits are counted as income from which your allowable expenses are subtracted to arrive at disposable income in Michigan. In some other jurisdictions (other than Michigan), the answer would be different.
As always, you get what you pay for. Be sure to talk to a qualified attorney about your specific situation before choosing to...
Q: i loaned a friend? $5,000 so he could bye a vehicle. he filed for bankruptsy and now says he no longer owes me
W. J. Winterstein Jr.'s answer
Unless you took a security interest in the debtor's real or personal property at the time you advanced the money, and "perfected" your lien by filing in the designated places (Registrar of deeds in county where real property is located, or Sec. of State of PA and/or county for UCC-1 filings), then your loan is most probably subject to discharge in the bankruptcy.
There are exceptions to discharge, listed in Section 523 of the bankruptcy code, e.g., if the debtor procured the loan by...
Unless you took a security interest in the debtor's real or personal property at the time you advanced the money, and "perfected" your lien by filing in the designated places (Registrar of deeds in county where real property is located, or Sec. of State of PA and/or county for UCC-1 filings), then your loan is most probably subject to discharge in the bankruptcy.
There are exceptions to discharge, listed in Section 523 of the bankruptcy code, e.g., if the debtor procured the loan by...
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