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answered on May 22, 2023
Generally, if you are not a joint account holder or co-signer on your boyfriend's debts, you are not legally responsible for his debts. Debt collectors typically cannot come after you personally for his debts unless you have a legal obligation to repay them. However, it is important to be... Read more »
I'm asking because I will have to file chapter 7 and the Minimum bankruptcy income is different with more family members.
answered on May 16, 2023
In California the prevailing policy is to determine household size by the number of "heads on pillows."
Hopefully it won't make any difference whether you count the baby. If it makes a difference, then wait to file, if possible, until after the baby is born. Or else file now,... Read more »
I'd like to know if the creditors (Citibank and Amex) can force me to sell my house. I don't believe so since I don't believe to have signed a securities agreement with either. I have credit card debt and personal loans with them.
Q2 - I have an LLC with a tax ID #...this... Read more »
answered on Apr 20, 2023
You have many issues that require discussion and analysis in detail to fully cover your issues and come up with solutions. Answers provided by my colleagues include some good points in response. However, Your situation has many parts and for a true understanding and for complete analysis, I... Read more »
I'd like to know if the creditors (Citibank and Amex) can force me to sell my house. I don't believe so since I don't believe to have signed a securities agreement with either. I have credit card debt and personal loans with them.
Q2 - I have an LLC with a tax ID #...this... Read more »
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answered on Apr 20, 2023
There is not enough information provided to answer your three questions, but I can provide some general information.
1. Even if a borrower did not execute a security agreement with an unsecured creditor, the unsecured creditor may possibly obtain a civil judgment against the borrower which... Read more »
I'd like to know if the creditors (Citibank and Amex) can force me to sell my house. I don't believe so since I don't believe to have signed a securities agreement with either. I have credit card debt and personal loans with them.
Q2 - I have an LLC with a tax ID #...this... Read more »
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answered on Apr 21, 2023
Regarding your first question, typically credit card debt is unsecured debt and therefore creditors cannot force you to sell your home to satisfy the debt. However, in some cases, creditors may place a lien on your home as a result of a judgment against you. This lien could potentially affect your... Read more »
answered on Apr 13, 2023
Generally, the credit card debt gets eliminated in a chapter 7 bankruptcy case. The auto loan you would still want to pay it and keep current with it if you decide you want to keep the car. However, as long as you stay current on the vehicle payments you should be able to keep the vehicle even if... Read more »
answered on Apr 13, 2023
You offer scant facts, e.g., value of car, balances of auto debt, credit card debt, what kind of credit card (Visa, etc.), what if any cross-collateral prohibitions there may be in the lender's agreements with the credit card issuers, etc.
Generally, an auto loan that was initiated... Read more »
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answered on Apr 13, 2023
If you file for bankruptcy, your credit card debt and auto loan with the same bank will be treated differently depending on the type of bankruptcy you file and the specific circumstances of your case.
In a Chapter 7 bankruptcy, your unsecured debts, such as credit card debt, may be... Read more »
answered on Apr 13, 2023
I suggest you consult with a bankruptcy attorney in order to completely understand your bankruptcy and possible non-bankruptcy options. Many of us offer a half hour no charge consultation which will likely provide you a good overall discussion of your options. If you decide to proceed with... Read more »
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answered on Apr 12, 2023
As per California law, if you have $10,000 in credit card debt and are considering filing for Chapter 7 bankruptcy, there are certain steps you will need to take.
First, you will need to gather all of your financial documents, including bank statements, tax returns, and credit card... Read more »
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answered on Apr 5, 2023
In a corporate Chapter 7 liquidation, shareholders may not necessarily be listed or given notice. This is because, in a Chapter 7 bankruptcy, the assets of the corporation are liquidated to pay off creditors, and shareholders typically have no priority in the distribution of assets.... Read more »
I AM A VICTIM OF FRAUD
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answered on Mar 30, 2023
If a bankruptcy was filed using your information without your signature, you may file a motion to request a voluntary dismissal of the case. You should consult with an attorney experienced in bankruptcy law to assist you with the process. The motion will need to be filed with the bankruptcy court... Read more »
I AM A VICTIM OF FRAUD
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answered on Mar 24, 2023
If you are a victim of fraud and your information was used to file a bankruptcy petition without your consent or signature, you may be able to request that the bankruptcy court dismiss the case. Here are the general steps you can take to file a motion for voluntary dismissal:
Obtain the... Read more »
i am member of an llc and i signed a personal guarantee on an Eidl loan. A member wants to take my stake in the company. Will an indemnification agreement between partys be an option?
Is that be an option or would that be voided by the SBA?
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answered on Mar 10, 2023
Generally, an EIDL loan is a loan that is made directly to a small business, and the loan is based on the creditworthiness of the business, not the individual partners or owners. However, it is possible that the loan agreement includes a personal guarantee, which means that the individual partners... Read more »
i am member of an llc and i signed a personal guarantee on an Eidl loan. A member wants to take my stake in the company. Will an indemnification agreement between partys be an option?
Is that be an option or would that be voided by the SBA?
answered on Mar 11, 2023
I agree with what Mr. Arrasmith has said, but would add more, just from prior experience representing either financial institutions or their borrowers: as a general rule, if an obligor to a bank wants to get, or cancel, something he signed from that bank, the bank will want some amount of money in... Read more »
My husband passed away in September 2022 and he has a Whole Life Insurance Policy with NYL (of which I am the sole beneficiary) that has a collateral assignment on an SBA Loan from a business we closed and filed bankruptcy on in November 2017. My husband and I filed a corporate Chapter 13... Read more »
answered on Mar 10, 2023
No, it's a secured claim, they did not need to file a proof of claim, and it is not discharged in the bankruptcy. You should speak to an attorney (bankruptcy or debt relief) to determine whether perhaps the security interest was not properly perfected.
My husband passed away in September 2022 and he has a Whole Life Insurance Policy with NYL (of which I am the sole beneficiary) that has a collateral assignment on an SBA Loan from a business we closed and filed bankruptcy on in November 2017. My husband and I filed a corporate Chapter 13... Read more »
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answered on Mar 10, 2023
Based on the information you provided, you may need to consult with an attorney who specializes in bankruptcy law and/or commercial law.
Regarding the collateral assignment on the SBA loan, it's possible that the bankruptcy trustee was responsible for administering any claims related... Read more »
manifest injustice is created by Bankruptcy Court's dismissal . 15 people of the unsecured class and their $480,000 owed is completely wiped out. they appeal to the District Court in an emergency stay petition. denied by District Court. they appeal to 9thcircuit from which an order is issued... Read more »
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answered on Mar 9, 2023
Summary affirmation is an abbreviated form of appeal that is used when the appellate court determines that there are no genuine issues of material fact and that the law supports the lower court's decision. It is typically used when the appeal is frivolous, when the lower court decision is... Read more »
I filed for chapter 7 bankruptcy. The trustee abandoned my home back to me and declared my bk a no-asset case. The L.E.A., Local Enforcement Agency, then filed a non-dischargeability of debt claim pursuant to 11 U.S.C. §§ 523(a)(6) and 523(a)(7). The matter is currently under appeal before... Read more »
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answered on Mar 8, 2023
The question of whether a debt is dischargeable in bankruptcy can be complex and may depend on the specific facts and circumstances of the case, as well as the applicable law. Generally, debts arising from administrative proceedings, such as those before a regulatory agency, may be dischargeable in... Read more »
Looking to file a complaint against the Orange County Sheriff's department for violating my 4th amendment by executing an unlawful eviction while pending 341 Chapter 7 hearing ( ultimately granted ).
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answered on Mar 5, 2023
Here are some steps you can take to find an attorney with experience in these areas:
Research: Look up attorneys in your area who specialize in Civil Rights and/or FDCPA cases. You can check their websites, reviews, and case history to determine if they have experience with cases similar to... Read more »
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