So that I am not impacted, would we need to sell the asset in order to not have it taken in a bankruptcy? Are there any other impacts to me if my business partner goes through with this?
answered on Sep 8, 2023
Yes, there are "impacts" that concern you (I currently represent a debtor in a Ch. 7 who has been a general partner in a small business construction company which has had a non-bankrupt general partner as well).
A general partner is personally liable for the debts of a... View More 
So that I am not impacted, would we need to sell the asset in order to not have it taken in a bankruptcy? Are there any other impacts to me if my business partner goes through with this?
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answered on Sep 8, 2023
If your business partner files for bankruptcy, it could potentially impact the assets of the business, including the condo. The exact impact would depend on a variety of factors including how the business is structured and the specific circumstances of the bankruptcy. It is recommended to consult... View More
I want to file Chapter 7. I have turned in all documents asked and both case had been filed as of 8 days
answered on Jul 26, 2023
No two cases are alike, and no two clients, who generate necessary factual information, are alike either.
The preparation of the full Bankruptcy Schedules requires across the board info from the client, both currently and for as long as six years ago.
I've been doing bankruptcy... View More
I want to file Chapter 7. I have turned in all documents asked and both case had been filed as of 8 days
answered on Jul 31, 2023
Once you submit the requested paperwork to your attorney (presumably including your credit counseling certificate), he or she will prepare your bankruptcy petition. Your attorney will then review the petition with you to confirm that the petition is complete and correct. If the petition is complete... View More
What route should I take ? I am worried about having a place to live .
answered on Jul 15, 2023
For most debtors, the primary purpose of Chapter 13 is to "save the house".
Ch. 13 enables you to retain the property, make current payments as they fall due, and cure any mortgage deficiency by paying the amount past due on the mortgage debt over the period of the plan (up to... View More
I'm 2yrs into a 13. When I enforce HOA to act (repair/replace/maintain) twice on separate occasions their rep's have responded with "oh and by the way...you owe this on your bankruptcy; attached is an account ledger; we advise you to reach out to our (sic) attorney's to... View More
answered on Jun 20, 2023
Your attorney is correct. That is not a violation of the automatic stay nor is it an attempt to collect a debt. While they may have referenced it when you called them, they did not take any affirmative act toward collecting the debt. Id stay with your current lawyers. They are trying to keep... View More
I'm 2yrs into a 13. When I enforce HOA to act (repair/replace/maintain) twice on separate occasions their rep's have responded with "oh and by the way...you owe this on your bankruptcy; attached is an account ledger; we advise you to reach out to our (sic) attorney's to... View More
answered on Jun 20, 2023
I generally agree with my colleague's prior answer, but for more pointed reasons.
The US Supreme Court recently handed down a major bankruptcy ruling about creditor violations of the automatic stay, and especially with respect to its ruling that the bankrupt debtor must now... View More
Had to retire from my job after 27 years. Fortunately I am able to draw Teachers Retirement disability but its 57% of my salary . I have long term disability but afraid to file clain because of payback rules i do not understand. Im not trying to get out of my obligation. Just need it reduced .... View More
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answered on May 23, 2023
There are provisions in the Bankruptcy Code for asking the court to modify your Chapter 13 plan based on a change of circumstances. If your current attorney is refusing to do so, and hasn't adequately explained it to you, you should consult another attorney in your area. Most will offer a free... View More
I just want to know what agencies or anything can collect debt out of my Georgia lottery winnings when I go to collect. Like will medical bills cell phone carriers, credit card companies?
answered on May 20, 2023
You've posted in the "Bankruptcy" section, so we assume you have filed for bankruptcy relief, or will do so imminently.
If so, the automatic stay prevents any creditor from taking any action against you or your property, subject to the bankruptcy court's orders.... View More
My daughter’ father was arrested, awaiting trial with pending charges from another counting, five counts of sexual exploitation of a child. It’s been hard for my daughter. I have been separated from my husband for nine months for the well-being of my daughter, since father’s arrest, she... View More
answered on Apr 21, 2023
A divorce can only be filed as uncontested if both spouses sign all of the required paperwork. If you have an agreement that he will sign, you can hire an attorney to draft the paperwork for you. You should reach out to an attorney directly with more information, so they can determine the correct... View More
A widow, whose sole income is social security, hired a public adjuster who nolonger wants to work with the attorney they hired. The adjuster is now putting pressure on her to pay him $12,000 or more. Can she file chapter 7 bankruptcy? If so, will it stop him from taking any further action against... View More
answered on Mar 21, 2023
The Bankruptcy Code defines who is eligible to file for Chapter 7, as well as all other forms of Chapter relief. An individual who has not filed for bankruptcy relief and gotten a discharge recently (6 years), and whose income is less than the "median income" for your region is eligible... View More
I also did a volunteerly return of a vehicle within my chapter 7. I've tried many times to get a auto loan but, everyone wants about $3000 to $4000 on a $11,000 to $12,000 vehicle. The higher the vehicle the more down. I had lenders to send me lenders with my credit score being between 621... View More
answered on Feb 26, 2023
I'm not in the lending business, thank heavens, lol, but I have been acting as general counsel for a few credit unions in the tri-state (PA, DE and NJ) region, and this issue occasionally comes up. I advise my lenders that recently bankrupt borrowers are a better than average risk in an... View More
Can both of these be classified under my filing if I only signed paperwork for one . Because they both show up when I try to get anything as both being under my Bankruptcy.
answered on Feb 22, 2023
The answer depends on multiple factors that are not clear from your question (e.g., the date you filed your bankruptcy case; the dates you took out each of your auto loans; what you elected to do with the second vehicle).
Unless you reaffirm a debt, your chapter 7 discharge will include... View More
answered on Jan 26, 2023
From your question, I have to assume that you are in a Chapter 13 proceeding, and that your plan, by now, has been confirmed. Implicit in your question is whether you may be liable for additional attorneys fees.
Until recently, in most cases, a debtor's attorney was "stuck"... View More
I declared bankruptcy in 2016. I received a ledger from Lazega & Johanson, a collection law firm, very away after receiving my bankruptcy discharge. It stated that I owed them an absurd sum in association dues, which included fees and interest.
I discovered after looking at the charges... View More
answered on Sep 23, 2022
Per Bankruptcy Code 523(a)(16), these debts are probably not dischargeable in bankruptcy, so you would continue to owe them. Whether they represent an accurate balance of what you owe is a different issue.
I suggest clearly breaking down all charges and payments made (like a statement),... View More
I declared bankruptcy in 2016. I received a ledger from Lazega & Johanson, a collection law firm, very away after receiving my bankruptcy discharge. It stated that I owed them an absurd sum in association dues, which included fees and interest.
I discovered after looking at the charges... View More
answered on Sep 23, 2022
You can perceive anything you like, but what you have is a basic dispute over money. You claim you are paid up, the association claims that you are not. If you can prove that you paid the assessments on time that the HOA claims you did not, that would be a pretty good defense to the foreclosure... View More
answered on Aug 31, 2022
The best person to assist you in this matter is your own lawyer; that having been said, valuation in Bankruptcy is not the replacement costs but more likely the depreciated costs. Accordingly, is a "used" pet worth $800, or something less (don't be romantic about this), and is a... View More
They are still operating and opening new businesses how does that work. Does it mean they are out of bankruptcy.
answered on Jun 21, 2022
I second Mr. Winterstein's reponse. I would only add that every Chapter 11 is different and it would be worth consulting an attorney who could review the Chapter 11 plan and advise on your best course for the case at hand.
They are still operating and opening new businesses how does that work. Does it mean they are out of bankruptcy.
answered on Jun 21, 2022
Most businesses that file a bankruptcy case use Chapter 11 of the Code, in what is called a reorganization. Several of the US airlines have done so, some more than once.
In a corporate Ch. 11, it is the norm to continue to operate the business.
If your "case" against the... View More
I have 1 joint credit card with spouse and don't want them to be affected. Can I remove my name from joint card that has a balance? Can I close the joint account before I file if it has a balance? What happens If I file bankruptcy and my name is still on joint card. I can't tell spouse... View More
answered on Jun 16, 2022
You cannot remove your name from the card. You can close it but you have to disclose that in your petition. Notice is going to be given to your husband regardless bc he is/was a codebtor on the card. Yes, you can file and still pay the debt but you cannot conceal this information from your spouse... View More
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