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 »
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 »
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 »
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 »
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 »
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.
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 »
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 »
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 »
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.
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