Owner of business wants to sell company and business assets to me. Business debt is greater than asking price. Asking price takes care of owners personally guaranteed debt, and there would still be $80,000 in an outstanding EIDL loan. Would I be inheriting the debt with the company? Or should I... Read more »
I pracrice in PA, but almost all states have some version of what's also called a Bulk Sales Law, and by that law, a debtor cannot sell all, or a substantial portion, of his business assets and leave creditors hanging, so the law provides that the debt follows the assets. Even where a state...Read more »
I own two home. One I use as a rental property for income and it is my only source of income. I also own a house with my husband that we live in. Can I keep both? Not a joint filing, only me. My name is on the mortgage for one house and his on the mortgage for the other. But both of our names are... Read more »
You'll need to talk to your attorney (or get one if you don't already have one. In many jurisdictions, but not necessarily MI, the first step would be to bifurcate (split in two) your chapter 13 case. Then you and your wife have separate cases. At that point, your attorney can seek to...Read more »
The statute of limitations starts on the date of last activity on your account. This could be the date you last made payment, but it could also be the date you last used the account, made a promise to pay, entered a payment agreement, or acknowledged liability for the debt.
It would seem to me that both signatures are required since a bankruptcy would affect both people in the marriage. Is it legal that my husband is doing this? He will not disclose the attorney to me so that I can ask.
Live in government run retired military home (Armed Forces Retirement Home – independent agency of the Executive branch). Announced a HUGE fee increase. Fees to go from $1458 to $3054 a month. Aggressive letter writing campaign – Congress ordered three years phase in. (Ordered by law – in the... Read more »
I just have another personal loan i just cannot pay it has no Collateral. my car is paid for as well as all my credit cards i am a widow with VA check benefits on my deceased spouse who i get benefits on related to agent orange in Vietnam. Can I still keep my Veterans benefits and able to file... Read more »
Your chapter 13 plan may be able to avoid the lien on the property or provide for treatment of the items as secured. Either way, you should be able to keep the collateral. See a bankruptcy lawyer near you and they will be able to determine your best options. Hope it works out. Good luck!
The last payment from garnishment was in June 2017. I was told by the trustee that after I filed my proof of claim I would receive retroactive payments on the first check. I received the first check in December 2017 without the full retroactive amount. The second payment came in January 2018. I was... Read more »
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.