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Bankruptcy Questions & Answers

1 Answer | Asked in Bankruptcy for California on

Q: I am currently in school, with a student loan that I have deferred payment on until after I graduate in 2020.

In the meantime, I am now going through a divorce, which has pushed me deep into debt and I am now considering bankcruptcy. I would however like to keep my student loans so that I can finish school. Will the student loan company drop me if I was already approved and I'm in the middle of school? Or... Read more »

Aaron Michael Lloyd answered on Aug 23, 2019

I have not had a school drop someone because they filed bankruptcy, at least with my prior clients. Bankruptcy would wipe out your unsecured debts, however, as you may know most tax debt and student loans are not and you would still pay those back. You may be able to do a chapter 7 bankruptcy and... Read more »

1 Answer | Asked in Bankruptcy for Tennessee on

Q: My daughter had an at fault car accident without insurance. The other person's insurance company is coming after her

They are seeking close to 10K - she's a waitress making less than regular min wage. Can she claim that debt under bankruptcy in TN?

Timothy Denison answered on Aug 22, 2019

Yes, do long as it was not a DUI or alcohol related accident.

1 Answer | Asked in Bankruptcy for Rhode Island on

Q: Can I file bankruptcy from a lease agreement .

Royal Crest estates is the place

Timothy Denison answered on Aug 21, 2019

Yes. If all other financial conditions permit.

3 Answers | Asked in Bankruptcy for Michigan on

Q: My son has many bills. He owes the county Jail here $1250 for a recent stay. Would bankruptcy erased by it.

Trent Harris answered on Aug 21, 2019

Fines, penalties, and costs that were ordered as part of his criminal sentence would not be dischargeable. However, if this cost is to reimburse the jail for his lodging and food costs while he was there, that could be dischargeable, because it's like rent and an ordinary contract claim. You... Read more »

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1 Answer | Asked in Bankruptcy, Civil Litigation, Contracts and Real Estate Law for Texas on

Q: Ex-boyfriend filing bankruptcy, will it affect me when we have a notarized promissory note?

I am a co-owner of my house (that my parents paid for) with my ex-boyfriend and we are separated because he had an affair. Both of our names are on the deedWe both had an agreement about things after he left the house. We have a co-signed home equity loan of about

Timothy Denison answered on Aug 20, 2019

Unless his name is on the deed, he has no claim to the property. He will likely be released from the promissory note on the house, but as long as you make the payment, nothing should happen to you.

2 Answers | Asked in Bankruptcy for Florida on

Q: Hello filed chapter 13 on August 19 sale was on August 20. I called informed mortgage company.

The BK court failed to send the mortgage company the information to stop sale. So sale to place. whats my options

Timothy Denison answered on Aug 20, 2019

If you put them on notice of the filing prior to the sale, you can probably bring an action to terminate the sale.

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1 Answer | Asked in Bankruptcy for North Carolina on

Q: I will be filing next year bankruptcy and I was wondering if I should move money in the bank to an IRA since IRA's are

exempt. I spoke with a bankruptcy lawyer and was advised an IRA is exempt.

Timothy Denison answered on Aug 20, 2019

No. You should speak with a competent bankruptcy attorney and he can tell you how best to protect your money.

3 Answers | Asked in Bankruptcy for Missouri on

Q: If i owe a somebody filing bankruptcy money, and there is no written contract nor payment arrangement, what can happen

Amount owed is "allegedly" about $40,000. No written contract and no agreement on how to pay the funds back was ever discussed.

Clark Dray answered on Aug 20, 2019

The bankruptcy trustee steps into the shoes of the Debtor. This means the trustee can sue you for the money. Whether or not he or she does so will depend on whether the Debtor discloses the claim, which he or she must, and whether the trustee thinks he or she could prevail in a suit against you.

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2 Answers | Asked in Bankruptcy for North Carolina on

Q: Hello I did speak with an attorney and was told IRA's are exempt.

Clark Dray answered on Aug 20, 2019

I believe that this question stems from an earlier one about whether you should move money from your bank account to an IRA prior to filing bankruptcy. There is no question that funds held in an IRA are subject to both federal and state exemptions. My point was that the act of converting a... Read more »

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2 Answers | Asked in Bankruptcy for North Carolina on

Q: I am considering bankruptcy and have money in the bank , should I move the money to an IRA account prior to filing ?

I am considering bankruptcy next year and have money in the bank , should I move the money to an IRA account prior to filing ? I did speak with an attorney and was told IRA's are exempt.

Clark Dray answered on Aug 20, 2019

No, you shouldn't make any moves like this without first consulting a local bankruptcy attorney. Pre-bankruptcy asset planning is tricky and shouldn't be done without a full understanding of the risks. Certain activities including moving money around can be avoided by the trustee and put you in a... Read more »

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1 Answer | Asked in Bankruptcy and Family Law for Nevada on

Q: My daughter and her two girls moved in with me. My son in law pays nothing. I’m going broke. How do I get him to pay?

Daughter has him living in my house. Against my desire. But is now fed up

Timothy Denison answered on Aug 17, 2019

Tell him his share of the monthly payment and pay up or have him removed from the house.

2 Answers | Asked in Bankruptcy for New Mexico on

Q: My father is a cosigner on my car. If I file chapter 7 will it effect him? I want to keep the car. Payments are current.

Arun Arjan Melwani answered on Aug 16, 2019

If you plan to keep the car and continue making payments, then your father will not be affected by you filing bankruptcy. However, if you fail to make the payments and they eventually repossess the vehicle then that will negatively impact him since he is equally liable for the debt you have... Read more »

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3 Answers | Asked in Bankruptcy and Contracts for New Jersey on

Q: If there was a forclosure action shouldn't there be a writ of excution in the county records? also shouldn't we be serve

Served by them ? Then by the county sheriff?? I dont see it on there website for a sake. it has not been in paper for 4 weeks dont they have to do all those things before a sheriff sale, since NJ is judicial state? And back in 2017 doesnt our bankruptcy canceled out all there prior fillings..dont... Read more »

Michael David Siegel answered on Aug 16, 2019

Your question shows you know little about bankruptcy or foreclosure. Your lawyer should have explained it to you. If your sale has been noticed by posting a notice of sale and advertising it will go forward as noticed.

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1 Answer | Asked in Bankruptcy, Consumer Law, Foreclosure and Banking on

Q: What if the lis pendens the servicer merged and changed names shouldn't a new lis pendens be filed with the new ?

If a lis pendens was filed in the county records in 2017 and we filed for bankruptcy to save the homel and while through bankruptcy the servicer whoever they are now refused to take our pre petition and post petition payments and thus we couldn't get to a modification agreement with this company... Read more »

Timothy Denison answered on Aug 16, 2019

The lid prndens recording does not have to be changed upon transfer between companies. It is simply there to put the world on notice as to potential litigation involving that property.

1 Answer | Asked in Bankruptcy for Washington on

Q: Can a garnishment be stopped. I don't think I can bankrupt. But am willing to make payments easier to handle. 11k

Timothy Denison answered on Aug 16, 2019

Not likely except by agreement with the creditor. Make sure you can’t bankrupt before you move forward.

3 Answers | Asked in Bankruptcy for California on

Q: Can I be forced to sell my home?

I live in my homesteaded home and I co-signed on a home for my daughter which I have nothing to do with she lives in it with her children and has made all payments since the purchase. I am planning on filing a chapter 7 bankruptcy as I am 74 years old and make a little over 1000.00 a month on my... Read more »

Harlene Miller answered on Aug 16, 2019

I urge you to contact a bankruptcy attorney in your area. There are a lot of factors here that need to be considered. Whether or not your home is homesteaded, that does not necessarily mean that it is completely protected if you file bankruptcy. The Chapter 7 Trustee assigned to your case will... Read more »

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1 Answer | Asked in Bankruptcy and Business Law for Georgia on

Q: does a confession of judgment from Miami florida apply in Georgia?

D. Mathew Blackburn answered on Aug 16, 2019

It depends on how it was drafted. It has to be entered in defendant's resident county. It also depends on what stage the case is at. But generally yes.

1 Answer | Asked in Bankruptcy and Construction Law for California on

Q: How do I find out if a construction company I hired has filed for bankruptcy?

Timothy Denison answered on Aug 15, 2019

Open an account at pacer.gov and you call search all federal databases.

3 Answers | Asked in Bankruptcy for Georgia on

Q: If you file Chapter 7 bankruptcy but not on your home and land could the courts take your property and home and sell it

Clark Dray answered on Aug 15, 2019

In bankruptcy, you get to retain any assets which are covered by state and federal exemptions. The key to determining whether your home will be safe in bankruptcy is determining how much equity you have in your home (the home's value less any mortgages, liens, etc.) and how much equity your state's... Read more »

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1 Answer | Asked in Bankruptcy and Consumer Law for North Carolina on

Q: I received a check for $500 as a gift from a friend that I know just went through bankruptcy.

The friend has a 5013c nonprofit corporation. It appears to still be active when I searched on business entities on the sos but I'm not sure if the bankruptcy was personal or for the business. Are there implications if I cash the check?

Timothy Denison answered on Aug 14, 2019

No.

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