My checks have been garnished since the beginning of my chapter 13 plan and my payments have been paid timely. I am on my last payment for the last creditor that has to receive payment. At what point can I expect to have the income withholding ended so I can receive my full paycheck again?
The reason I filed is contractors destroyed our house making it unsafe. we fell behind on bills and had to file to avoid losing house. The trustee stated that my house is worth more than I stated; however I informed her about the damage and the amount to fix it. House is now in possession of bank.... Read more »
This is too complicated and the facts too sparse for effective discussion in this forum, and you should consult with an attorney, privately, so that the advice you received is confidential. You may be able to file a motion to compel the trustee to abandon the property, but to do so would probably...Read more »
My Chapter 7 has been reopened due to receiving assets, the judge ordered trustee to file final report on June 1, 2019 but I havent gotten any information since then and the status of the case is still "awaiting trustee's report"
If that's true, in reality it is counted as income that can pay creditors, which can exclude us from Ch 7 if the SSDI is too high. If that's incorrect or only partly true, can you please explain how SSDI is handled? Many thanks.
Social security benefits are not counted against the debtor as income on the Chapter 7 means test. The question for the governmental benefits line item on Form 122 expressly says not to include social security.
On the other hand, if you are asking about Schedule I (the monthly budget done...Read more »
Your options for personal bankruptcy come in basically two flavors: Chapter 7 liquidation or Chapter 13 repayment plan. If you are eligible for it, most bankruptcy lawyers will try to file you under a Chapter 7 case, unless there is a reason Chapter 7 wouldn't be best for you. So let's...Read more »
Im not certain which chapter I would need to file. Im divorced & have no assets. I have less than $20,000 debt, such as judgements from credit cards and a previous landlord, medical & miscellaneous debt. I’m also making small payments on federal student loan debt and am in good standing... Read more »
Based on the information you provided you would most likely file a Chapter 7 Bankruptcy. Assuming your last Bankruptcy was a Chapter 7 you would qualify for another Chapter 7 since its been over 8 years. One thing you need to consider is any possible inheritance. If you inherit within 6 months of...Read more »
i filed aug 2019. bank wants full amoint behind before they will reaffirm. bank closed account as soon as bankruptcy filed. I offered them paymemts but they wouldn't accept? what to expect? what do i need to do to keep vehicle?
Fines, penalties, and costs that were ordered as part of his criminal sentence would not be dischargeable. However, if this cost is to reimburse the jail for his lodging and food costs while he was there, that could be dischargeable, because it's like rent and an ordinary contract claim. You...Read more »
Generally, no. Property of the your bankruptcy estate does not include any power that the debtor (you) may exercise solely for the benefit of [a person] other than [yourself], i.e. your child. See 11 U.S.C. 541(b)(1). Under Michigan law the funds in the UGMA account belong to your children, not...Read more »
I just received a judgement against me for an outstanding auto loan that my ex husband was suppose to take care of per our divorce decree. I financially cannot afford to pay for this with my current car payment and other bills I have. I have been told that I could file bankruptcy for this but my... Read more »
No, when you file bankruptcy you have to list all of your debts. However, the damage to your credit from bankruptcy is only temporary. If you pay your bills on time after you get a bankruptcy discharge, your credit score will probably go back up again relatively quickly, because your debt ratio...Read more »
Creditors would not be able to go after the house owned by spouses as tenants by the entireties, unless both spouses were liable on the debt. But note, in a bankruptcy it would be the bankruptcy trustee, not creditors, that might do this.
As always, you get what you pay for. Be sure to...Read more »
My wife and I are planning to divorce. The problem is that neither of us can afford to live alone and our debts are so intertwined between us (both names on everything) that splitting it would be impossible. We're considering a bankruptcy to simplify the process. I believe we make too much to... Read more »
Their may be an advantage to filing before a divorce, but your situation is too complicated and/or the facts too sparse for an attorney to advise you in an on-line discussion so I don't want to go into detail. You should consult with an attorney who handles bankruptcies.
In process of filing. The original loan was consolidated with other loans at the same bank. So seeing I'm still filing and its finalized yet, I didnt know if I could just sell the car for whatever amount, seeing i still owe the debt for it and that's what I'm filing on?
Get rid of the car. The title now belongs to the lending company. List the original lender, the seller of the car and the company that all previous liens were consolidated with and BE FREE of this lousy car!
For purposes of the Chapter 7 means test, Social Security benefits are not income. But for purposes of Chapter 13 disposable income, yes, Social Security benefits are counted as income from which your allowable expenses are subtracted to arrive at disposable income in Michigan. In some other...Read more »
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