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My bankruptcy was discharged in October 2021. Since then I constantly get emails from 2 creditors. One sends me constant reminders to download statements. The other sends me bill pay reminders for debts that were also included in my bankruptcy. I’ve called both CU to tell them I do not have an... View More 
answered on Jan 31, 2024
The US Supreme Court, since the early '90s with the Dewsnup opinion, has been curtailing the Bankruptcy Code's provisions for debtor's relief against creditors generally, imho.
Most recently, the US Supreme Court shifted the burden of proof for a debtor's action against... View More
A coworker borrowed in excess of forty thousand dollars more than eighteen months ago offering fraudulent excuses for needing the money and lying about how/when she would repay. There has never been any attempt on her part to repay even a portion of the money, and today I learned she has now filed... View More
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answered on Feb 4, 2024
In this situation, it's advisable to consult with a consumer law attorney. They can help you understand your legal rights and options for pursuing the repayment of the borrowed funds. While bankruptcy may affect the outcome, consulting a consumer law attorney is a good first step. They can... View More
A coworker borrowed in excess of forty thousand dollars more than eighteen months ago offering fraudulent excuses for needing the money and lying about how/when she would repay. There has never been any attempt on her part to repay even a portion of the money, and today I learned she has now filed... View More
answered on Jan 30, 2024
Creditors not listed by the debtor on a bankruptcy Petition and Schedules may not have their claims discharged, UNLESS they have reason to know about the bankruptcy filing.
If the bankruptcy case is known, a Proof of Claim, at least, should be filed.
There are other alternatives.... View More
My 80 year old family member has a loan being managed by a debt consolidation company and another personal loan which she put her car up for collateral on. She declared Chapter 7 finalized 1/2021. What will happen due to her not being able to pay these loans back?
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answered on Jan 28, 2024
If your family member is unable to pay the loans managed by the debt consolidation company and the personal loan with her car as collateral, there are several potential consequences. It's crucial to understand that each loan might be treated differently based on the terms of the loan and the... View More
I filed a Chapter 13 Bankruptcy in 2021. I've been paying on it regularly and I'm in good standing. A few months ago, my job situation suddenly changed and I would like to modify the payments. I contacted my attorney. Sent him an email and explained why I would like it modified, per his... View More
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answered on Jan 26, 2024
Mary, in your situation, it's important to act promptly to address the changes in your financial circumstances. If your attorney is unresponsive, you have several options to consider.
First, try sending a formal letter to your attorney's office, clearly stating your request for a... View More
I have a small business set up as an S Corp in NJ. Took out a $130k EIDL loan as well as a $30k loan from my bank. Business is dying. Will the SBA be able to go after my personal assets if I close the business? No personal guarantee, only against collateral/inventory which is hard to sell right... View More
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answered on Jan 26, 2024
In New Jersey, as with other states, the structure of an S Corporation typically provides a degree of separation between the business's debts and your personal assets. This means that in many cases, shareholders are not personally liable for the debts of the corporation.
Since you... View More
I have a small business set up as an S Corp in NJ. Took out a $130k EIDL loan as well as a $30k loan from my bank. Business is dying. Will the SBA be able to go after my personal assets if I close the business? No personal guarantee, only against collateral/inventory which is hard to sell right... View More
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answered on Jan 26, 2024
If your business closes next week, you're personally liable for the debt. EIDLs are not forgivable. You'll repay them over the 30-year term, though you can pay your loan off early with no prepayment penalties. Also, for future reference, a Sub-Chapter S corp is your worst nightmare and... View More
I have a small business set up as an S Corp in NJ. Took out a $130k EIDL loan as well as a $30k loan from my bank. Business is dying. Will the SBA be able to go after my personal assets if I close the business? No personal guarantee, only against collateral/inventory which is hard to sell right... View More
answered on Jan 26, 2024
This is actually an evolving area of the law. If you have no guarantee, the answer should be no. But, the SBA has been investigating whether proceeds were properly used. If you took the money for improper purposes, the US Attorney could come after you. But, there are so many of these loans, it... View More
My business have a loan with a bank. Bank files an UCC lien with all business assets.
Also, If I signed a personal guaranty, can the bank goes after my personal bank account and personal assets (Trucks, appliances,,,) ?
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answered on Jan 26, 2024
Yes, a bank can repossess or enforce a claim against property secured by a UCC statement without a court judgment in many cases. Here are some key points:
- The UCC (Uniform Commercial Code) allows secured creditors, like banks, to take possession of collateral securing a loan if the... View More
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answered on Jan 26, 2024
In the context of Chapter 13 bankruptcy, filing back-to-back without a discharge from the first case is a scenario that requires careful consideration under the law. Typically, you can file for Chapter 13 bankruptcy again after a previous filing, but there are specific time limits and conditions... View More
I am a creditor in a class action law suit. When I check the website there is a long page that has 5 different sections that says claim nature. The first is General Unsecured. The second says Priority. The third one says Secured. The fourth says 503(b)(9) Admin Priority. The fifth says Admin... View More
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answered on Jan 26, 2024
In a Chapter 11 bankruptcy case, different types of claims are categorized based on their legal nature and priority. This categorization affects how claims are treated and the order in which they are paid.
"General Unsecured" claims are typically debts that don't have... View More
I am a creditor in a class action law suit. When I check the website there is a long page that has 5 different sections that says claim nature. The first is General Unsecured. The second says Priority. The third one says Secured. The fourth says 503(b)(9) Admin Priority. The fifth says Admin... View More
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answered on Jan 25, 2024
A secured claim is one in which the creditor has a lien on as asset of the debtor, such as a mortgage or a car loan. A priority unsecured claim is generally for taxes or other administrative expenses. Most claims are general unsecured claims. While there are certain claims actions claims that might... View More
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answered on Jan 26, 2024
Facing a car loan significantly higher than the car's value and substantial credit card debt can be challenging, but there are options available. One option is to negotiate with the car loan lender for a possible settlement or modification of the loan terms. Lenders sometimes agree to reduce... View More
answered on Jan 24, 2024
Your question cannot be reliably answered because it offers only two debt items.
Your options, among which are some of the bankruptcy Chapters, can only be determined by a full consideration of your likewise full financial situation, both income and debt service for... View More
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answered on Jan 26, 2024
Receiving a bill from an insurance company for a house that foreclosed over a year ago can be confusing and concerning. The first step is to verify the legitimacy of the bill. Contact the insurance company directly to understand why you are being billed, especially since you no longer own the... View More
answered on Jan 25, 2024
The mortgage company normally pays the insurance during the foreclosure. I don't know if the insurance company is sending you the bill because you contracted for insurance or the insurance was forced placed and contracted for by the mortgage company. Either way, you normally are not liable for... View More
When my case was filed neither I nor my attorney were aware of the Haven Act. I would like to know if this can be corrected.
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answered on Jan 23, 2024
The HAVEN Act, which affects how veterans' disability benefits are treated in bankruptcy cases, is a significant piece of legislation for veterans like yourself. If your Chapter 13 bankruptcy case was filed without considering the HAVEN Act, it's possible to address this oversight.... View More
When my case was filed neither I nor my attorney were aware of the Haven Act. I would like to know if this can be corrected.
answered on Jan 23, 2024
Bankruptcy schedules and forms can typically be amended, but there are a number of factors such as where the case is procedural that would be relevant to an informed decision on how to proceed. This forum is not an ideal place to provide you with adequate legal advice as to your pending case; I... View More
I've had a warrant for over a year. And they've never once have attempted to come to my residence to arrest me
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answered on Jan 22, 2024
Since your question is under the bankruptcy category I'm going to assume you got a warrant for failing to appear ready judgment debtor exam. If that's the case they generally don't come get you. But the warrant remains outstanding and if you ever get pulled over for a ticket,... View More
I've had a warrant for over a year. And they've never once have attempted to come to my residence to arrest me
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answered on Jan 22, 2024
Under California law, once an arrest warrant is issued, there is no specific time frame within which law enforcement must execute the warrant and bring you before a judge. However, once you are arrested on the warrant, the law does require that you be brought before a court without unnecessary... View More
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