In 2014/2015 I took out an auto loan through my credit union, paid off loan by 2018, and filed Ch.7 in 2020. I had a credit card through the same credit union with about $1000 balance when the Ch.7 was discharged. I was never advised by the attorney, court, or credit union of the... Read more »
Since the car was paid off in 2018 the release should have been given to you, regardless of any balance on the credit card, at that time. Said another way, the event that gave rise to the lien release happened before the bankruptcy case was filed. The cross collateralization clause cannot affect...Read more »
We’re these fines imposed by a judge after you requested a trial date and appeared for trial? If so, and if 90 days or less has passed since the trial date, you can file a motion with the court for reconsideration and reduction of the fines
I was told by PHH back then, that I would only have to pay off the new prin. Balance to own the home or$65k. Today, my account says there is a payoff of $188k or 1 & 2 prin Balance as payoff. I'm confused and want to know if I can refinance would it be only the $65k? I have a Screenshot.... Read more »
Came up with a plan - started paying the bankruptcy each month. Paid into it March through November of 2020. My attorney filed something incorrectly - case was dismissed for a month. Started getting calls from creditors. He corrected it - I'm back in the bankruptcy. Bankruptcy approved in Dec... Read more »
You can get a second opinion from another experienced bankruptcy lawyer, who will need to review your case and the filings in it. If there is something new that can be done, other than what is being done, then they will tell you. If there was malpractice, then they can identify it for you and...Read more »
A friend of mine has a neighbor who is in danger of being foreclosed on due to COVID impacting his business. They are willing to sell me the home, however, I don't have the credit available to purchase it using a conventional loan since I already own my own home. I’m hoping to move into... Read more »
You really, really need a lawyer to review your plan. First, your agreement with the neighbor has no binding effect on the mortgage lender. They aren't going to stop foreclosing because you plan to start a lengthy process of acquisition. Indeed, if you try to record any form of sale, there is...Read more »
A business partner of mine is considering filing for bankruptcy either 7 or 13. Me and him purchased a property together to rent as an income property. He's the only one on the mortgage. He's on the title and I'm on the title (via my business name). Am I at risk for losing the... Read more »
You would be wise to consult your own bankruptcy counsel, not to prepare your bankruptcy, but to plan options. You might want to buy him out in one way or another, and it might be better to do that from within his bankruptcy. It is an interesting problem, but, to answer your question, yes, you are...Read more »
The ch.7 was discharged two years ago and wasnt reaffirmed. I want to do a deed in lieu of foreclosure to get the lien out of my name. Will the deed in lieu be on my credit report if the house was included in the ch. 7, discharged two years ago and never reaffirmed?
If you discharged the mortgage obligation in a Chapter 7, you are no longer personally liable on the debt; however, the lien of the mortgage remains on the property. You do not have to do anything in this scenario. Many debtors discharge their personal liability on a mortgage load but continue to...Read more »
Yes, all personal injury proceeds received in lump sum is 100% exempt; however, do not deposit it into an account with other funds--keep it completely separate until after your discharge, so as to be able to prove every penny came from the settlement check. Once you commingle it, you risk having...Read more »
Filed bankruptcy Sept 17. Eviction was filed Sept 23. Landlord waited 30 days with no contact til Oct 23. Threaten eviction. Never received eviction paperwork. Sheriff came out to evict. Provided half of rent owed to landlord. Still providing rent owed to landlord but landlord is still threaten to... Read more »
I have learned that if one file for Chapter 7 bankruptcy, he will lose his house if the amount of equity matches the amount to be paid to the creditors. There is one exception which is homestead exemption and allows you to protect certain amount of equity.
No. It is measured at the time of filing. In addition to the homestead exemption, you also have a wildcard exemption you can use to protect more equity. If you still have unprotected equity flyer that, you should consider filing a Chapter 13.
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