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Connecticut Bankruptcy Questions & Answers
2 Answers | Asked in Bankruptcy for Connecticut on
Q: Schedule A/B, What do I put on current value of the entire property and current value of the portion you own?

Car value of 5593 and payments balance of 14220 left to pay.

Christopher H. McCormick
Christopher H. McCormick answered on Sep 17, 2019

Based on your question you should hire an experienced local bankruptcy attorney to file bankruptcy for you to make sure you answer all questions accurately and fully on your schedules and statements. Inaccurate and incomplete schedules may result in the dismissal of your case or lead to other... Read more »

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1 Answer | Asked in Bankruptcy for Connecticut on
Q: I filed for chapter 7 last year and it was discharged and closed. Can I reclaim my portion of assests that were bought?

I owned part of my grandmas house and also half of a boat. The trustee bought out the house from my uncle and boat from my brother. Do I have to take my name off everything regarding those like the deed and registration? Would anything ever happen if I didnt? Can I ever reclaim my portion back from... Read more »

Timothy Denison
Timothy Denison answered on Jul 6, 2019

No. The assets which were purchased were used to pay your debts. Unless the trustee abandoned interest, you no longer have any ownership in the assets.

2 Answers | Asked in Bankruptcy for Connecticut on
Q: Can the executor of an estate transfer a $20K IRA claim in bankruptcy, from the estate to the executor?

12/31/1998 my father purchased an IRA from Tri-National Development Corp by way of Pensco Custodian FBO, for $19,132.66. On 2/23/2006 Pensco transferred a bond to my father for $18,423, after Tri-National filed for bankruptcy. Bankruptcy proceedings are ongoing under US Bankruptcy Court, Southern... Read more »

Alan S. Dambrov
Alan S. Dambrov answered on Feb 8, 2019

Yes, attache a copy of your appointment. If you have any questions about the form, call the clerk of the Bankruptcy Court. Good Luck.

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1 Answer | Asked in Bankruptcy for Connecticut on
Q: How do you determine your interest in an llc when you’re a silent partner
Timothy Denison
Timothy Denison answered on Oct 7, 2018

You have to determine what % of ownership the silent partner investment represents and claim that % as an asset.

2 Answers | Asked in Bankruptcy for Connecticut on
Q: I am a silent partner in an llc. I only own 1.85 percent of the business. Can I file chapter 7
Christopher H. McCormick
Christopher H. McCormick answered on Oct 3, 2018

Not clear what you are asking in relation to your interest in LLC. If your concern is whether you could exempt your interest in LLC in Chapter 7 personal filing it will depend on market value of your small interest in LLC. You should consult with a local bankruptcy attorney to review all the facts... Read more »

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3 Answers | Asked in Bankruptcy for Connecticut on
Q: Can I ever get a credit card again if I file for bankruptcy?
Stuart Nachbar
Stuart Nachbar answered on Aug 17, 2018

Yes you can. How.long before you can get one depends on what type of bankruptcy you file

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1 Answer | Asked in Bankruptcy for Connecticut on
Q: I’m filing bankruptcy single from my wife. She lives in Nevada, I live in CT. Can they take her savings?

Since Nevada is a community property state can they take her money in her savings and checking account when I’m filing separate and we live separate. She is on none of the debt. It’s all mine. We own no property

Timothy Denison
Timothy Denison answered on Jun 14, 2018

Your wife is safe.

2 Answers | Asked in Bankruptcy for Connecticut on
Q: I am a ticket broker and going to file bankruptcy. Can they take my season and concert tickets?

More complicated is that my unoffical partner has been financing 100% of my inventory. We split profits 50/50. All sales money goes directly to him and then he pays me my cut of profit at end of month. I also have a debt to him of 32K which he takes part of monthly from my profit. My season ticket... Read more »

Timothy Denison
Timothy Denison answered on Apr 25, 2018

Any property in your name will be property of the estate. You can protect some or all of your tickets and PSLs with your exemptions, depending on the value, but anything else over and above your exemption(s) could be liquidated.

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1 Answer | Asked in Bankruptcy for Connecticut on
Q: Is it legal for my credit card company to levy my bank account if I've already filed for bankruptcy? If not, is that

money recoverable?

David Earl Phillips
David Earl Phillips answered on Mar 13, 2018

The actions by the credit card company may be a direct violation of the automatic stay in bankruptcy. You may be able to get your money back and even receive damages. Talk with your bankruptcy lawyer to determine your rights. If you do not have a lawyer, now would be a good time to get legal... Read more »

2 Answers | Asked in Bankruptcy for Connecticut on
Q: For a discharged Chap 7. Do you need court approval for a mortgage loan modification?

Filed chap 13 in March 2016, converted to chap 7 in Aug 2016, was discharged but not closed in Nov 2016. Received a permanent loan modification from my bank, they are saying need court approval to execute documents? Is this true and what form(s) are needed to file the documents.

Nels Hansen
Nels Hansen answered on Dec 7, 2017

Usually, you do not. In chapter 13, you would file a motion to approve mortgage modification. In chapter 7 you do not need court permission to incur new debt. Contact your bankruptcy attorney and inquire why your case remains open. If you do not have an attorney, now is the time to hire one. You... Read more »

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1 Answer | Asked in Bankruptcy for Connecticut on
Q: will the banks where my HSA and profit sharing plan are custodied be notified when i file for bankruptcy?
Christopher H. McCormick
Christopher H. McCormick answered on Oct 24, 2017

At this point you need to consult with a CT bankruptcy attorney most provide for an initial free consultation.

1 Answer | Asked in Bankruptcy for Connecticut on
Q: Will my employer be notified if I have a Profit Sharing Plan and file for ch. 7 bankruptcy? And is PSP plan exempt?
Christopher H. McCormick
Christopher H. McCormick answered on Oct 24, 2017

If this profit sharing plan is a retirement plan exempt from current taxation as such than it is likely exempt and your employer would not be notified of your bankruptcy. You should consult with a CT bankruptcy attorney to determine if Chapter 7 is the best option for you and review all of the... Read more »

1 Answer | Asked in Bankruptcy for Connecticut on
Q: filing chapter 7 in CT with HSA account- will that be exempt from trustee estate and will employer be notified about it?
Christopher H. McCormick
Christopher H. McCormick answered on Oct 24, 2017

Employer will not be notified of your bankruptcy filing. Only exceptions would be if they are a creditor of yours or you need to have a wage execution stopped. Under federal exemptions you will have to use wild card exemption which may be limited if you own your home and need homestead exemption.... Read more »

1 Answer | Asked in Bankruptcy for Connecticut on
Q: As a music teacher, I know that my piano is exempt in a chapter 7 case; but is there a limit on it's dollar value?

I can easily find the list of exempt property in a CT bankruptcy case, but I can't find anything regarding caps on monetary value. Are there any?

Max Lavit Rosenberg
Max Lavit Rosenberg answered on Oct 12, 2017

You need to discuss this with an experienced bankruptcy attorney and should never never never try and handle your own case. That being said, I would exempt your piano under your wildcard or tools of the trade but it would all depend on how that matches up with your other property and exemption... Read more »

1 Answer | Asked in Bankruptcy for Connecticut on
Q: I want to file for bankrupt and I live in ct all my debt is from ny

All debt came from a divorce

Stuart Nachbar
Stuart Nachbar answered on May 8, 2017

You file where you have lived for the past 180 days continuously.

1 Answer | Asked in Bankruptcy, Collections and Consumer Law for Connecticut on
Q: They withdrawl all my money from my bank account amd it say it was natural execution? Dont really now what it means
Max Lavit Rosenberg
Max Lavit Rosenberg answered on Aug 22, 2016

This means someone got a judgment against you, filed an execution upon your bank account and attempted to fufill the judgment. If you file an exemption within a limited amount of time (approximately 14 days), you may be able to get some of your money back. The execution should have been... Read more »

1 Answer | Asked in Bankruptcy for Connecticut on
Q: How many days notice should a person receive prior to having to be ejected from home due to a foreclosure.
Andrew Bresalier
Andrew Bresalier answered on Jan 27, 2014

You will receive a Writ of Possession which is the warning.

1 Answer | Asked in Bankruptcy for Connecticut on
Q: When does the Chapter 13 payment plan begin, at filing or at confirmation?

I filed CH-13 in July of 2009. My plan consisted of $1193 payments for 60 months. One of the creditors began an adversary proceding against me which delayed the process for two years although payments were made timely according to the plan. The judge ruled in our favor on the adversary and now,... Read more »

Andrew Bresalier
Andrew Bresalier answered on Feb 14, 2012

Plan Payments start at filing.

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