Is there a limit on the number of times the court will allow the debtor to become several months behind on his scheduled payments? I am a creditor on my ex husbands chapter 13 and the trustee has now entered her third request for dismissal ( he's three payments behind and will be four as of... Read more »
It is all within the sound discretion of the court, but it sounds like he has about run out of chances. Be patient and he will ultimately get what’s coming to him.
I was laid off due to COVID-19. My former employee offered a severance to be paid on a biweekly basis. They have since filed for Chapter 11 bankruptcy. So far, they have continued to make the payments. My question relates to filing as a creditor. If I file, will my former employer stop making these... Read more »
They will likely continue to pay since employee benefits are unsecured priority claims that still have to be paid.
Property of the estate
(a) ___x____ shall not vest in Debtor until the earlier of Debtor’s discharge or
dismissal of this case, unless the Court orders otherwise, or
(b) _______ shall vest in Debtor upon confirmation of the Plan.
The property is listed under here:... Read more »
You should go see a bankrtupcy lawyer in the morning. It is impossible to give you rational advice with this little bit of info.
This is like doing brain surgery on yourself if you continue down this path.
Good Luck
d
I invested in a property to which I have a promissory note and after the 6 months, I would be receiving my investments back plus the interest. The promissory notes specifically states the address of the property I have the note against. 5 months in to the agreement, the debtor sold the property and... Read more »
Basically you have an unsecured debt in bankruptcy but you may be able to be paid out of the proceeds of the sale. Was the property the homestead property of the person who sold? My advice is to immediately retain an attorney who understands real estate, contracts and bankruptcy law and have them... Read more »
We were informed one week after court we don't need to pay any debit.
Two weeks after that my wife was laid from her job and received a severance payment for 20 years working there .
The question is do i need to report to the court this, and they could take the money, we... Read more »
No. you don't need to report the post-petition severance payment. The notice you received was probably just a pro-forma finding that the chapter 7 case is a "no asset" case; i.e.: nothing for the trustee to administer.
The deferred principal of a mortgage under a modification agreement has to be repaid in accordance with the terms of the modification agreement. Without reading it, I can't state with 100% positivity but usually the deferred portion does not need to be repaid as arrears in a chapter 13... Read more »
I am in the process of filing Ch. 13. Our Foreclosure judgement lists an amount appox. $31k for "streamline mods" as part of the total due back to the lender as part of the foreclosure. This is an amount of prinicipal that was deferred to either sale of home or maturity of loan as part of... Read more »
Depends on the terms of the loan modification.
Does a specific part of my petition need to be sent to Florida's public record agency? Civil circuit court has one document attached and the judgement is closed showing a zero balance.
They probably have not been notified. Send a copy of your petition and discharge to the agency showing it and they will likely correct it.
No it should not if she files and you don't. It may not affect your security clearance for you if you join her. You would need to check with your supervisor. We file clients with security clearances all the time. Sometimes the agency requires them in a Chapter 13 to pay back their debts. Best... Read more »
Or will it be counted as extra monthly income, or will the full amount still owed be counted as an asset and taken away from me? My only other income and assets are exempt,(social security and Florida State employee retirement and an IRA) and I qualify for Chapter 7. I would hate to lose all of... Read more »
Without looking at your complete financial picture it is hard to make a definitive answer, but usually promissory notes are assets which belong to the bankruptcy estate. It truly depends on your particular status and the status of the debt to you. I hope you are not contemplating a DIY case,... Read more »
is it best to send creditors a cease and desist letter, or just hire an Attorney with a retainer, to just take calls ,and tell creditors he is represented, I can not handle the phone calls
As soon as he files the bk, all letters, calls, communications cease.
I filed bankruptcy, without my spouse, and I’m currently waiting for discharge. My spouse, who holds the home mortgage alone, would like to do a cash out refinance for home repairs and add my name to the house title. How long is the trustee entitled to new assets after filing or discharge?
The trustee can't claim any interest in assets acquired after the date your Chapter 7 petition was filed, and to my knowledge there is no requirement of a post-filing supplemental statement of assets and liabilities.
I currently have a home in NC. If NC becomes my primary residence, what is their state income tax rate, and is your home protected if you have to file bankruptcy?
See my answer to previous question.
Yes. 5.25%
Every 3 months plan increased. Asked attorney about catching up prior payments was told they will spread delinquent amount over next 45 months payment. Now motion to dismiss in 21 days if don't pay 7450. Do not have money and cannot get in 21 days or even 60 days. We made all payments on time... Read more »
Consult your bankruptcy attorney about converting to Chapter 7.
I am a working chapter 11 and chapter 13 with great p&ls and balance sheets . The 13 will be down at the end of this month and the 11 will be done in April . I am running four restaurants that had to close due to Covid-19 virus forced by Florida governor for restaurants. I need the money to... Read more »
What's the question?
Ask your lawyer. You cannot be doing a 13 and 11 without professional help, and that lawyer knows all the facts. You must respect the standing orders of the court until otherwise modified.
Good Luck
d
My Ex took $1000 that did not belong to her. She claims the taking was in error. She wrote a check to repay the $1000 which bounced due to NSF. She told me she was stopping payment on the check and filing bankruptcy. She demanded I return the check to her. I refused unless she signed a payment... Read more »
It appears to me that, since you didn't know if the bankruptcy filing when you cashed the check, you have not violated the automatic stay.
I just found out one month before retirement, an old business civil lawsuit judgment from 12 years ago is attempting to be collected. I would like to consider filing chapter 7 bankruptcy. I am 65 years old and planning to retire this year. Pre-retirement my income was $175,000. Post retirement... Read more »
Sure, you can file for bankruptcy protection, although a chapter 13 might be more appropriate. But with an annual income of $84 K, it doesn't make any sense to not consult with your own bankruptcy attorney; it's not like you can't afford it.
Possibly. Depends on the terms of your plan.
Absolutely.
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