A lender's "charge-off" of a loan debt does not affect your legal obligation to repay; the charge-off is an internal accounting/regulatory-driven function that adjusts (reduces) the lender's capital structure and lending authority. I am aware of no legal requirement that you,...Read more »
The so-called "permanent injunction", against creditors' attempting to collect a discharged debt, which accompanies the entry of every Discharge Order in bankruptcy, certainly seems to prohibit that sort of "ask". On the other hand, nothing in a bankruptcy Discharge...Read more »
Im separating and need to sell my home but my husband is in ch. 13, the attorney said he has to use the profit to purchase another home but only have a year to do so, is this true? Should I file for a divorce so this doesn’t affect me?
My bankruptcy was discharged 9 yrs ago & I did not reaffirm my mortgage. I continue to live in the home and made all pmts timely w/APR 4.625%. My credit is in the mid-700s but lacking variety due to no mortgage debt. Although the obligation was removed, I missed the opportunity to demonstrate... Read more »
when I found out my money was frozen that was giving to me, I did not know what to do. I did not know my rights. so, my husband file a emergency bankruptcy to get a stay. Not knowing I would have a right to ask for a claim of exemption and request for hearing in the court. We didn't file the... Read more »
When ex-girlfriend filed bankruptcy, it released her from the note on the home we purchased together. She is however still listed on the deed. I have paid every month on time and now wish to sell the home. Is she entitled to half of the profits even though she left in 2010, filed bankruptcy and... Read more »
If I am not a homeowner but rather I rent, am I still eligible to use the unused portion of the homestead exemption with the federal wild card exemption or must you own a home to even qualify to be given that option... Thank You
The enhanced personal property exemption or "wild card" was designed to be used for people who do not claim a homestead exemption because they rent or live with somebody or just don't own a home for any reason. Interestingly, you can own a mobile home and also get the enhanced...Read more »
we own a home in Florida and of course plan on keeping it. I noticed my mortgage company stopped reporting on my credit, and it also appears my lawyer never reaffirmed the house as the mortgage company advised me when I called them, although my lawyers office told me to call the bank and they do... Read more »
Depending on the district you are in, you may be able to reopen the bankruptcy case, vacate the discharge for purposes of filing the reaffirmation agreement, file the reaffirmation agreement and obtain the order and have the discharge reissued and the case closed. We can do that in the Southern...Read more »
Creditors do not have to report to the credit bureaus. If you didn't reaffirm the mortgage, you aren't personally liable on the debt, and the mortgage company generally would stop reporting. The mortgage company retains its lien and you must continue paying to avoid foreclosure.
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 »
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